Question 19 Chapter 1 of +2-A
19. From the following information, calculate the number of subscriptions outstanding for the year ended 31st March 2019:
A club has 200 members each paying an annual subscription. The following additional information is provided:
| Rs. | |
| Subscription outstanding on 31st March 2018 | 30,000 |
| Subscription received in Advance on 31st March 2019 | 40,000 |
| Subscription received in Advance on 31st March 2018 | 14,000 |
Income and Expenditure Account
| Expenditure |
Amount | Income | Amount |
|---|---|---|---|
| By Subscriptions | 2,00,000 | ||
| (200 X 1000 each) |
Calculation of Amount of Outstanding subscription
| Subscription received During the year | 2,05,000 |
| Add: - Subscription received in advance on 31st March 2018 for the year ended on 31st March 2019 | 14,000 |
| 2,19,000 | |
| Less: - Subscription in arrear as on 1/4/18 received during the year (30000-12500) | 30,000 |
| Subscription received in advance for the year ended 31/03/20 | 40,000 |
| Total subscription due for the year ended 31/03/2019 200 X 1000 each |
2,00,000 |
| The amount for subscription credited to the Income and Expenditure A/c | 51,000 |
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