Question 17 Chapter 1 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 17 Chapter 1 of +2-A

Question 17 Chapter 1 of +2-A

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

: –

CaseI
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

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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 17 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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