Question 14 Chapter 1 of +2-A - T.S. Grewal 12 Class Part

Question 14 Chapter 1 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

By Shubham Sharma 5 Min Read September 8, 2022

Question No.14 - Chapter No.1 - T.S. Grewal +2 Book Part-A 2019-Solution-min-min

Question 14 Chapter 1 of +2-A

Table of Contents

The solution of Question 14 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)

14. In the year ended 31st March 2019, Subscriptions received by Kings Club, Delhi was Rs 4,09,000 including Rs 5,000 for the year ended 31st March 2018 and Rs. 10,000 for the ended 31st March 2020. At the end of the year ended 31st March 2019 subscriptions outstanding for the year ended 31st March 2019 were 15,000. The subscriptions due but not received at the end of the previous year i.e. 31st March 2018 were Rs. 8,000, while subscriptions received in advance on the same date were Rs. 18,000.
Calculate the number of subscriptions to be credited to Income and Expenditure Account for the year ended 31st March 2019.

The solution of Question 14 Chapter 1 of +2-A: –

Income and Expenditure Account
Expenditure	Amount	Income		Amount
		By Subscription	4,09,000
		Add: – Closing O/S	15,000
		– Opening advance	18,000
			4,42,000
		Less: – Opening O/S	5,000
		– Closing advance	10,000	4,27,000

Calculation of Amount of Subscriptions

Subscription received During the year	4,09,000
Add: – Subscription outstanding at the end of the year	15,000
Subscription received in advance at the beginning of the year	18,000
	4,42,000
Less: – Subscription outstanding at the beginning of the year	5,000
Subscription received in advance at the end of the year	10,000
The amount for subscription credited to the Income and Expenditure A/c	4,27,000