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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question 11 Chapter 1 of +2-Part-1
11. You are required to show subscription in Income and Expenditure account and relevant information in the Balance Sheet.
| Receipts | Amount | Payments | Amount |
| To Subscription A/c: 31-3-2014 | 25,000 | ||
| 31-03-15 | 90,000 | ||
| 31-03-16 | 10,000 |
Additional Information:
Subscription Outstanding 31-3-2015 - Rs. 10,000
Subscription Outstanding 31-3-2014 - Rs. 30,000
Subscription Received in advance 31-3-2014 – Rs. 7,000
Income and Expenditure Account
| Liabilities |
Amount | Assets |
Amount | |||
|---|---|---|---|---|---|---|
| 3,200 | By Subscription received | 90,000 | ||||
| Add: Subscription received in advance in 2013-14 | 7,000 | |||||
| Add: Outstanding Subscription on 31-3-15 | 3,000 | 1,00,000 | ||||
Balance Sheet As on 31st March,2015
| Liabilities |
Amount | Assets |
Amount | |||
|---|---|---|---|---|---|---|
| Subscription received in advance | 10,000 | Outstanding Subscription: | ||||
| 2013-14 (30,000-25,000 | 5,000 | |||||
| 2014-15 | 3,000 | 8,000 | ||||
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 11 Chapter 1 of +2-Part-1 - USHA Publication 12 Class Part - 1", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to USHA Publication +2 Part 1.
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