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

Question 12 Chapter 1 of +2-A

Question 12 Chapter 1 of +2-A

Free Accounting book Solution - Class 11 and Class 12

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

 

Not-for-Profit Organisations – Meaning and Overview

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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)

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)

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

2 Book 1 min - Question 12 Chapter 1 of +2-A - T.S. Grewal 12 Class Part - A Vol. 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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