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There are 450 members of a Club, each paying an annual subscription of Rs.500. On 31st March 2016 subscription in arrears amounted to Rs.5,000. Subscription received during the year ended 31st March 2009 amounted to Rs. 223,000 including Rs. 4.500 for the year 2007-2008 and Rs. 7,500 for the year 2009-2010. Calculate the amount of subscription in arrears as on 31st March 2009.

A

19,000

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B

19,500

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C

14,500

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D

4,500

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Solution

The correct option is A 19,000
Total Subscription for the year (450*500) = 2,25,000
Subscription received during the year = 2,23,000
Less: Subscription received for previous year = 4500
Less: Subscription received for next year = 7500
Subscription received of the year = 2,23,000-4500-7500 = 2,11,000
Subscription outstanding for the year = 2,25,000- 2,11,000 = 14000
Subscription outstanding for previous year = 5000 - 4500 = 500
Total subscription outstanding on 31st March, 2009 = 14000 + 500
= 14,500.

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

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