Question 13 Chapter 1 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 13 Chapter 1 of +2-A

Question 13 Chapter 1 of +2-A

13. Subscription received during the year ended 31st March 2019 are:
For the year ended 31st March 2018 1,600
For the year ended 31st March 2019 84,400
For the year ended 31st March 2020 3,200 89,200
There are 450 members, each paying an annual subscription of Rs 200; Rs 1,800 were in arrears for the year ended 31st March 2018.
Calculate the number of subscriptions to be credited to Income and Expenditure Account for the year ended 31st March 2019

 

The solution of Question 13 Chapter 1 of +2-A

: –

Calculation of Subscription outstanding at the end of the year

Total Subscription Due for the year-end 31st March, 2019               90,000
(Total Member X Amount of Subscription)
450 Members X Rs 200 each      
Less: Subscription received during the year for the year 2018-19   84,400
Subscription outstanding at the end of the year                                  5,600

Calculation of Amount of Subscriptions
Subscription received During the year                                               89,200
Add: – Subscription outstanding at the end of the year                     5,600
                                                                                                                      94,800
Less: – Subscription outstanding at the beginning of the year         1,600

            Subscription received in advance at the end of the year      3,200
The amount for subscription credited to the Income and                      90,000
Expenditure A/c
In the Books of Jaipur Literary Society
Income and Expenditure Account
Expenditure
  Amount Income
Amount
      By Subscription 90,000
      (450 Members X Rs 200 each)  

Note: The total amount of Subscription received is shown in income and expenditure account. So, we don’t need to show full calculation in the income and expenditure account.

 

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 13 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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