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Question 4 Chapter 1 - Unimax Class 12 Part 1
4. There are 1,125 members in an institution, each paying an annual subscription of Rs. 10 each. Subscription received in advance at the beginning and at the end of the year Rs. 3,250 and Rs. 3,500 respectively. Subscription unpaid at the beginning of the year Rs. 1,750. Subscription received during the year Rs. 10,000.
Calculate Subscription unpaid at the end of the year.
Number of Members = 1125
Subscription paid by each member = Rs. 10
Total subscription to be received = 1125 x 10
(Income for the year) = Rs. 11250
| Particulars | Amount | |
|---|---|---|
| Subscriptions received during the year | 10000 | |
| Add: Subscription received in advance at the beginning of the year | 3250 | |
| 13,250 | ||
| Less: Outstanding at the beginning of the year | 1750 | |
| Less: Received in advance at the end of the year | 3500 | 5250 |
| Subscriptions received for the current year | 8000 | |
Outstanding subscription at the end of the year:-
= Total Subscription - (Subscription received for the current year)
Income for the year
= Rs. 11,250 – Rs. 8000
= Rs. 3,250
It is all about Question 4 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)
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
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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