Question

Subscriptions received during the year ended 31st March , 2018 are:

₹ ₹
For the year ended 31st March, 2017 1,600
For the year ended 31st March,2018 84,400
For the year ended 31st March,2019 3,200 89,200

There are 450 members , each paying an annual subscription of ₹ 200; ₹ 1,800 were in arrears for the year ended 31st March, 2017.
calculate amount of subscriptions to be credited to Income and Expenditure Account for the year ended 31st March, 2018.

Answer 1

Income and Expenditure Account for the year ended March 31, 2018
Dr.					Cr.
Expenditure		Amount (Rs)	Income	Amount (Rs)
			Subscription
			(450 Members × Rs 200 each)	90,000