Question 12 Chapter 1 of +2-A - T.S. Grewal 12 Class Part

Question 12 Chapter 1 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

By Shubham Sharma 4 Min Read September 8, 2022

Question No.12 - Chapter No.1 - T.S. Grewal +2 Book Part-A 2019-Solution-min-min

Question 12 Chapter 1 of +2-A

Table of Contents

The solution of Question 12 Chapter 1 of +2-A: –

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)

Calculation of Amount of Subscriptions

12. In the year ended 31st March 2019 subscription received by the Jaipur Literary Society was Rs 4,20,000. These subscriptions include Rs 14,000 received for the year ended 31st March 2018 On 31st March 2019, subscriptions due but not received were Rs. 10,000. What amount should be credited to Income and Expenditure Account for the year ended 31st March 2019 as a subscription?

The solution of Question 12 Chapter 1 of +2-A: –

Calculation of Amount of Subscriptions

Subscription received During the year	4,20,000
Add: – Subscription outstanding at the end of the year	10,000
	4,30,000
Less: – Subscription outstanding in the beginning of the year	14,000
The amount for subscription credited to the Income and Expenditure A/c	4,16,000

In the Books of Jaipur Literary Society
Income and Expenditure Account
Expenditures	Amount	Incomes		Amount
		By Subscription	4,20,000
		Add: – O/s at the end	10,000
		Less: – O/s in the beginning	14,000	4,16,000