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

Question 17 Chapter 1 of +2-A

Table of Contents

The solution of Question 17 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)

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