Subscriptions received during the year ended December 31, 2011, by Royal Club were as under
2010 3,000
2011 93,000
2012 2,000
98,000
The club has 500 members each paying @ Rs. 200 as annual subscription. Subscriptions outstanding as on December 31, 2010 are Rs. 6,000. Calculate the amount of subscriptions to be shown as income in the Income and Expenditure Account for the year ended December 31, 2011 and show the relevant data in the Balance Sheet as on that date.

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Solution

Income and Expenditure Account
As on 31 st December,2011
Expenditure Amt.(Rs.)
Income Amt. (Rs.)
Subscription for 2011 93,000
(+) Outstanding for 2011 7,000
(500 members $\times$ Rs. 200) 1,00,000
Balance Sheet
As on 31 st December, 2006
Liabilities Amt. Assets Amt.
Subscription Received
in Advance for 2012 2,000 Subscription
Outstanding for 2010 3,000
(6,000 - 3,000)
Subscription
Outstanding for 2011 7,000
10,000

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The Club has 500 members each paying @ Rs 200 as annual subscription. Subscriptions outstanding as on March 31st, 2005 were Rs 8,000. Calculate the amount of subscriptions to be shown as income in the Income and Expenditure Account for the year ended March 31st, 2006 and show the relevant data in the Balance Sheet as on 31st March, 2005 and 2006.

Q. During the year 2011, subscriptions received by a sports club were Rs. 80,000. These included Rs.3,000 for the year 2012. On the December 31, 2010, the amount of subscriptions due but not received was Rs.12,000. Calculate the amount of subscriptions to be shown in Income and Expenditure Account as income from subscription.

From the following Receipt and Payment Account of a club, prepare Income and Expenditure Account for the year ended December 31, 2006 and the Balance Sheet as on that date.

Receipt and Payment Account for the year ending December 31, 2006
Receipts		Amount Rs	Payments	Amount Rs
Balance b/d		3,500	General expenses	900
Subscription: 2005 2006 2007	1,800 70,000 3,000	75,000	Salary Postage Electricity charges Furniture	16,000 1,300 7,800 26,500
Sale of old Books		2,000	Books	13,000
(Costing Rs 3,200)			Newspapers	600
Rent from use of hall		17,000	Meeting expenses	7,200
Sale of newspapers		400	T.V. set	16,000
Profit from entertainment		7,300	Balance c/d	15,900

		1,05,200		1,05,200

Additional Information:

(a)	The club has 100 members each paying an annual subscription of Rs900. Subscriptions outstanding on December 31, 2005 were Rs 3,600.
(b)	On December 31, 2006 , salary outstanding amounted to Rs 1,000, Salary paid included Rs 1,000 for the year 2005.
(c)	On January 1, 2006 the club owned land and building Rs 25,000, furniture Rs 2,600 and books Rs 6,200.

Q. 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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Expenditure	Amt.(Rs.)	Income	Amt. (Rs.)
		Subscription for 2011 93,000 (+) Outstanding for 2011 7,000 (500 members $\times$ Rs. 200)	1,00,000

Liabilities	Amt.	Assets	Amt.
Subscription Received in Advance for 2012	2,000	Subscription Outstanding for 2010 3,000 (6,000 - 3,000) Subscription Outstanding for 2011 7,000	10,000