Question 11 Chapter 1 of +2-Part-1
Table of Contents
11. You are required to show subscription in Income and Expenditure account and relevant information in the Balance Sheet.
| Receipts | Amount | Payments | Amount |
| To Subscription A/c: 31-3-2014 | 25,000 | ||
| 31-03-15 | 90,000 | ||
| 31-03-16 | 10,000 |
Additional Information:
Subscription Outstanding 31-3-2015 – Rs. 10,000
Subscription Outstanding 31-3-2014 – Rs. 30,000
Subscription Received in advance 31-3-2014 – Rs. 7,000
The solution of Question 11 Chapter 1 of +2-Part-1: –
| Income and Expenditure Account |
||||||
| Liabilities |
Amount | Assets |
Amount | |||
| 3,200 | By Subscription received | 90,000 | ||||
| Add: Subscription received in advance in 2013-14 | 7,000 | |||||
| Add: Outstanding Subscription on 31-3-15 | 3,000 | 1,00,000 | ||||
| Balance Sheet As on 31st March,2015 |
||||||
| Liabilities |
Amount | Assets |
Amount | |||
| Subscription received in advance | 10,000 | Outstanding Subscription: | ||||
| 2013-14 (30,000-25,000 | 5,000 | |||||
| 2014-15 | 3,000 | 8,000 | ||||
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Also, Check out the solved question of previous Chapters: –
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)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
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