Subscriptions received in cash during the year Rs. 15,000, the amount received in advance for the next year is Rs. 1,800. The amount outstanding for the current year was Rs.1,600. The amount to be credited to the Income and Expenditure Account is

12800

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14800

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15200

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None of these

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Solution

The correct option is B
14800

Income for the year = 15,000-1,800+1,600

= Rs 14,800

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Subscriptions received in cash during the year Rs. 15,000, the amount received in advance for the next year is Rs. 1,800. The amount outstanding for the current year was Rs.1,600. The amount to be credited to the Income and Expenditure Account is

The correct option is B 14800 Income for the year = 15,000-1,800+1,600 = Rs 14,800

The correct option is B
14800

Income for the year = 15,000-1,800+1,600

= Rs 14,800