Subscriptions received by the health club during the year 2006 were as under
Rs.
2010 3,000
2011 96,000
2012 2,000
_________
1,01,000
Rs
Subscriptions outstanding as on 31.12.10 5,000
Subscriptions outstanding as on 31.12.11 12,000
Subscriptions received in advance in 2010 for 2011 5,000
Calculate the amount of subscriptions to be shown on the income side of Income and Expenditure Account.

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Solution

Income and Expenditure Account
As on 31st December, 2011
Expenditure Amt.(Rs.)
Income
Amt. (Rs.)
Subscription for 2011 96,000
(+) Outstanding for 2011 10,000
1,06,000
(- ) Received Advance for 2011 5,000

1,11,000

Note Total amount of subscriptions outstanding as on 31-12-11 are Rs.12,000. This includes Rs. 2,000(Rs.5,000 - Rs. 3,000 for subscriptions still outstanding for 2010 Hence, the subscriptions outstanding for 2011 are Rs. 10,000 ( Rs.12,000 - Rs.2,000).
Balance Sheet
As on 31st December, 2011
Liabilities Amt.(Rs.) Assets
Amt. (Rs.)
Subscription outstanding for 2010 2,000 Subscription outstanding for 2011 10,000
12,000

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Expenditure	Amt.(Rs.)	Income	Amt. (Rs.)
		Subscription for 2011 96,000 (+) Outstanding for 2011 10,000 1,06,000 (- ) Received Advance for 2011 5,000	1,11,000

Liabilities	Amt.(Rs.)	Assets	Amt. (Rs.)
		Subscription outstanding for 2010 2,000 Subscription outstanding for 2011 10,000	12,000