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

Question No.17 - Chapter No.1 - T.S. Grewal +2 Book Part-A 2019-Solution-min-min

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: –

 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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