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Question 2 Chapter 1 - Unimax Class 12 Part 1
2. On the receipt side of "Receipts and payment"Account of Samsung club for the year ending 31st December 2021 subscription appeared at a figure of Rs. 24,800. Further information is that on 31st December, 2020 subscription due but not received amounted to Rs. 2,400 whereas subscription received was Rs.3,200 and subscription received in advance was Rs. 1,400 What amount should be posted to Income and Expenditure Account as subscription?
| Amount | ||
|---|---|---|
| subscription received during the year | 24,800 | |
| Add: - Subscription Outstanding as on 31-03-2021 | 3,200 | |
| Add: - Advance subscription as on 31-03-2020 | 1,400 | 4,800 |
| Less: - Subscription Outstanding as on 31-03-2020 | 2,400 | |
| Less: - Advance subscription as on 31-03-2021 | 1,400 | 3,800 |
| Amount of subscription posted in income Expenditure account. | 25,800 | |
It is all about Question 2 Chapter 1 of Class 12 unimax, If you have any problem please comment below.
Read out the full article to know the meaning of Not for Profit Organisations
Not-for-Profit Organisations – Meaning and Overview
Also, Check out the same article in Hindi from the following link
Not-for-Profit Organisations – Meaning and Overview
Also, Check out the solved question of all Chapters: –
Accountancy – Unimax Class 12 Part 1 – 2021 – Solution.
Chapter No. 1 – Accounts of Non-Profit Organisations
Chapter No. 2 – Partnership Accounts – I (Basic Concepts)
Chapter No. 3 – Partnership Accounts – II (Goodwill)
Chapter No. 4 – Partnership Accounts – III (Change in Profit Sharing Ratio among Existing Partners)
Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
Chapter No. 1 – Accounting Not for Profit Organisations
Chapter No. 2 – Partnership Accounts – I (Introduction)
Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
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.
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