Subscription received in cash during the year amounted to Rs. 60,000; subscription received in advance for next year was Rs. 3,000 and received in advance during the previous year was Rs. 2,000. Subscription in arrear at the end of the current year was Rs. 5,400. The amount credited to Income and Expenditure Account will be:

Rs. 53600

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Rs. 66400

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Rs. 55600

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Rs. 64400

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Solution

The correct option is D
Rs. 64400

Income for the year = 60,000 - 3,000 + 2,000 + 5,400
= Rs 64,400

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The correct option is D Rs. 64400 Income for the year = 60,000 - 3,000 + 2,000 + 5,400 = Rs 64,400

The correct option is D
Rs. 64400

Income for the year = 60,000 - 3,000 + 2,000 + 5,400
= Rs 64,400