Q.No.18 | Chapter 1 – Financial Statements of Not-for-Profit Organisations | T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1

Expenditure	Amount	Income		Amount
		By Subscription	3,58,500
		Add: - Closing O/S	25,000
		- Opening advance	22,500
			4,06,000
		Less: - Opening O/S	17,500
		- Closing advance	13,500	3,75,000

 

Balance Sheet

Liabilities	Amount	Assets		Amount
Subscription Received in Advance As on 31st March 2019	13,500	Outstanding Subscription
		For the Year 2017-18	12,500
		For the Year 2018-19	25,000	37,500

 

Balance Sheet

Liabilities	Amount	Assets	Amount
Subscription Received in Advance As on 31st March 2019	22,500	Outstanding Subscription For the Year 2017-18	30,000

Calculation of Amount of Subscriptions

Subscription received During the year	3,58,500
Add: - Subscription outstanding on 31/03/19 (37,500-12,500)	25,000
Subscription received in advance on 31st March 2018 for the year ended on 31st March 2019	22,500
	4,06,000
Less: - Subscription in arrear as on 1/4/18 received during the year (30000-12500)	17,500
Subscription received in advance for the year ended 31/03/20 and 31/03/21	13,500
The amount for subscription credited to the Income and Expenditure A/c	3,75,000

                                             

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Also, Check out the solved question of previous Chapters: -

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

• Chapter No. 1 - Financial Statement of Not-For-Profit Organisations
• Chapter No. 2 - Accounting for Partnership Firms - Fundamentals
• Chapter No. 3 - Goodwill: Nature and Valuation
• Chapter No. 4 - Change in Profit-Sharing Ratio Among the Existing Partners
• Chapter No. 5 - Admission of a Partner
• Chapter No. 6 - Retirement/Death of a Partner
• Chapter No. 7 - Dissolution of a Partnership Firm

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 8 - Company Accounts -  Accounting for Share Capital
• Chapter No. 9 - Company Accounts - Issue of Debentures
• Chapter No. 10 - Redemption of Debentures

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 1 - Financial Statements of a Company
• Chapter No. 2 - Financial Statement Analysis 
• Chapter No. 3 - Tools of Financial Statement Analysis - Comparative Statements and Common- Size Statements
• Chapter No. 4 - Accounting Ratios
• Chapter No. 5 - Cash Flow Statement

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