Question 17 Chapter 1 of +2-A
Table of Contents
17. From the Following Particulars, Calculate the number of subscriptions to be credited to the Income and Expenditure Account for the year ended 31st March 2019:
| Rs. | ||
| (a) | Subscription in arrears on 31st March 2019 | 500 |
| (b) | Subscription received in advance on 31st March 2018 for the year ended on 31st March 2019 | 1,100 |
| (c) | Total Subscriptions received during the year ended 31st March 2019 | 35,400 |
| (Including Rs 400 for the year ended 31st March 2018, Rs 1,200 for the year ended 31st March 2020 and Rs 300 for the year ended 31st March 2021 | ||
| (d) | Subscriptions outstanding for the year ended 31st March 2019 | 400 |
The solution of Question 17 Chapter 1 of +2-A: –
| Income and Expenditure Account |
||||
| Expenditure |
Amount | Income | Amount | |
| By Subscription | 35,400 | |||
| Add: – Closing O/S | 400 | |||
| – Opening advance | 1,100 | |||
| 36,900 | ||||
| Less: – Opening O/S | 400 | |||
| – Closing advance | 1,500 | 35,000 |
||
Calculation of Amount of Subscriptions
| Subscription received During the year | 35,400 |
| Add: – Subscription in arrear as on 31/03/19 | 400 |
| Subscription received in advance as on 1/4/18 | 1,100 |
| 36,900 | |
| Less: – Subscription in arrear as on 1/4/18 | 400 |
| Subscription received in advance as on 31/03/19 | 1,500 |
| The amount for subscription credited to the Income and Expenditure A/c | 35,000 |
Not-for-Profit Organisations – Meaning and Overview
Thanks, Please Like and share with your friends
Comment if you have any questions.
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)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
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
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
Advertisement-X