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

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                                     14,000   beginning of the year
The amount for subscription credited to the                            4,16,000      Income and Expenditure A/c

In the Books of Jaipur Literary Society
Income and Expenditure Account
Expenditure
  Amount Income
  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)

  • 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

 

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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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