Subscriptions received in cash during the year Rs. 5,000, the amount received in advance for the next year is Rs. 300. Amount outstanding for the current year was Rs. 400. The amount to be credited to the Income and Expenditure Account is-

4000

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5100

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4200

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4600

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Solution

The correct option is B
5100

Income for the year = 5,000-300+400

= Rs. 5,100

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Subscriptions received in cash during the year Rs. 5,000, the amount received in advance for the next year is Rs. 300. Amount outstanding for the current year was Rs. 400. The amount to be credited to the Income and Expenditure Account is-

The correct option is B 5100 Income for the year = 5,000-300+400 = Rs. 5,100

The correct option is B
5100

Income for the year = 5,000-300+400

= Rs. 5,100