Question 11 Chapter 1 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 11 Chapter 1 of +2- Part-1

Question 11 Chapter 1 of +2-Part-1

11. You are required to show subscription in Income and Expenditure account and relevant information in 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-

: – 

 

 

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 10,000 1,07,000

 

Balance Sheet
As on 1-4-2015
Liabilities
Amount Assets
Amount
Subscription received in advance 10,000 Outstanding Subscription:    
    2013-14 (30,000-25,000 5,000  
    2014-15 10,000 15,000



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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)

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

 

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 1 min - Question 11 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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