Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Advertisement
Advertisement
Advertisement
Advertisement
Question 16 Chapter 1 of +2-A
16. Calculate the number of subscriptions which will be treated as income for the year ended 31st March 2019 for each of the following cases:
| Particulars | Rs. | |
| Case I. | (i) Subscriptions collected during the year ended 31st March 2019 | 2,50,000 |
| (ii) Subscriptions in Arrears for the year ended 31st March 2019 | 6,000 | |
| (iii) Subscription received in advance for the year ended 31st March 2020 | 5,000 | |
| Case II | (i) Subscriptions collected during the year ended 31st March 2019 | 49,000 |
| (ii) Subscriptions for the year ended 31st March 2019 Collection in the year ended 31st March 2019 (iii) Subscription unpaid for the year ended 31st March 2019 | 3,000 | |
| 2,000 | ||
| Case III | (i) Subscriptions received during the year ended 31st March 2019 | 25,000 |
| (ii)Subscriptions outstanding at the beginning of the year ended 31st March 2019 | 3,000 | |
| (iii)Subscription not yet collected for the year ended 31st March 2019 | 5,000 | |
| Case IV | (i) Subscriptions received during the year ended 31st March 2019 | 80,000 |
| (ii)Subscriptions outstanding at the beginning of the year ended 31st March 2019 | 5,000 | |
| (iii)Subscriptions not yet collected for the year ended 31st March 2019 | 8,000 | |
| (iv)Subscriptions received in advance for the year ended 31st March 2020 | 2,000 | |
| Case V | (i) Subscriptions received during the year ended 31st March 2019 | 90,000 |
| (ii)Subscriptions outstanding at the end of the year ended 31st March 2018 | 5,000 | |
| (iii)Subscriptions received in advance on 31st March 2018 | 3,000 | |
| (iv)Subscriptions received in advance on 31st March 2019 | 4,000 | |
| (v)Subscriptions not yet collected for the year ended 31st March 2019 |
Case I
| Income and Expenditure Account |
||||
| Expenditure |
Amount | Income | Amount | |
|---|---|---|---|---|
| By Subscription | 2,50,000 | |||
| Add: - Closing O/S | 6,000 | |||
| 2,56,000 | ||||
| Less: - Opening O/S | ||||
| - Closing advance | 5,000 | 2,51,000 |
||
Calculation of Amount of Subscriptions
| Subscription received During the year | 2,50,000 |
| Add: - Subscription in arrear as on 31/03/19 | 6,000 |
| Subscription received in advance as on 1/4/18 | |
| 2,56,000 | |
| Less: - Subscription in arrear as on 1/4/18 | |
| Subscription received in advance as on 31/03/19 | 5,000 |
| The amount for subscription credited to the Income and Expenditure A/c | 2,51,000 |
Case II
Income and Expenditure Account
| Expenditure |
Amount | Income | Amount | |
|---|---|---|---|---|
| By Subscription | 49,000 | |||
| Add: - Closing O/S | 2,000 | |||
| - Opening advance | 3,000 | |||
| 54,000 | 54,000 | |||
Calculation of Amount of Subscriptions
| Subscription received During the year | 49,000 |
| Add: - Subscription in arrear as on 31/03/19 | 2,000 |
| Subscription received in advance as on 1/4/18 | 3,000 |
| 54,000 | |
| Less: - Subscription in arrear as on 1/4/18 | |
| Subscription received in advance as on 31/03/19 | |
| The amount for subscription credited to the Income and Expenditure A/c | 54,000 |
Case III
Income and Expenditure Account
| Expenditure |
Amount | Income | Amount | |
|---|---|---|---|---|
| By Subscription | 25,000 | |||
| Add: - Closing O/S | 5,000 | |||
| 30,000 | ||||
| Less: - Opening O/S | 3,000 | 27,000 | ||
Calculation of Amount of Subscriptions
| Subscription received During the year | 25,000 |
| Add: - Subscription in arrear as on 31/03/19 | 5,000 |
| Subscription received in advance as on 1/4/18 | |
| 30,000 | |
| Less: - Subscription in arrear as on 1/4/18 | 3,000 |
| Subscription received in advance as on 31/03/19 | |
| The amount for subscription credited to the Income and Expenditure A/c | 27,000 |
Case IV
Income and Expenditure Account
| Expenditure |
Amount | Income | Amount | |
|---|---|---|---|---|
| By Subscription | 80,000 | |||
| Add: - Closing O/S | 8,000 | |||
| 88,000 | ||||
| Less: - Opening O/S | 5,000 | |||
| - Closing advance | 2,000 | 81,000 |
||
Calculation of Amount of Subscriptions
| Subscription received During the year | 80,000 |
| Add: - Subscription in arrear as on 31/03/19 | 8,000 |
| Subscription received in advance as on 1/4/18 | |
| 88,000 | |
| Less: - Subscription in arrear as on 1/4/18 | 5,000 |
| Subscription received in advance as on 31/03/19 | 2,000 |
| The amount for subscription credited to the Income and Expenditure A/c | 81,000 |
Case V
Income and Expenditure Account
| Expenditure |
Amount | Income . | Amount | |
|---|---|---|---|---|
| By Subscription | 90,000 | |||
| Add: - Closing O/S | 6,000 | |||
| - Opening advance | 3,000 | |||
| 99,000 | ||||
| Less: - Opening O/S | 5,000 | |||
| - Closing advance | 4,000 | 90,000 |
||
Calculation of Amount of Subscriptions
| Subscription received During the year | 90,000 |
| Add: - Subscription in arrear as on 31/03/19 | 6,000 |
| Subscription received in advance as on 1/4/18 | 3,000 |
| 99,000 | |
| Less: - Subscription in arrear as on 1/4/18 | 5,000 |
| Subscription received in advance as on 31/03/19 | 4,000 |
| The amount for subscription credited to the Income and Expenditure A/c | 90,000 |
https://tutorstips.com/not-for-profit-organisations
Thanks, Please Like and share with your friends
Comment if you have any questions.
Also, Check out the solved question of previous Chapters: -
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
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 "Q.No.16 | Chapter 1 – Financial Statements of Not-for-Profit Organisations | T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "Q.No.16 | Chapter 1 – Financial Statements of Not-for-Profit Organisations | T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1" instantly.
