# Question 14 Chapter 1 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 14 Chapter 1 of +2-Part-1

14. A club has 300 members. Each member pays Rs.100 annual subscription. Subscription Rs.2,800 is outstanding on 31-3-2010.

 Receipts Amount Payments Amount To Subscription A/c : 31-03-14 700 31-03-15 28,000 31-03-16 2,500 31,200

You are required to show the above items in the Income and Expenditure account for the year ended31-3-10 and in the Balance Sheet as of that date.

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

 Income and Expenditure Account for the year ending 31-3-2010 Liabilities Amount Assets Amount By Subscription (300 x 100) 30,000
 Balance Sheet As on 31-3-2010 Liabilities Amount Assets Amount Subscription received in advance 2,500 Outstanding Subscription: 31-03-09 800 31-03-10(WN1) 2,000 2,800
 Rs.700 subscription is received for 31.3.09 in the current year 31.3.10. It means Rs.700 was outstanding in the previous year. Subscription received in the current year (31-3-10) = 28,000 Therefore, outstanding should be Rs(30,000-28,000) = 2,000