# Question 18 Chapter 1 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question No.18 - Chapter No.1 - T.S. Grewal +2 Book Part-A 2019-Solution-min-min

Question 18 Chapter 1 of +2-A

18. How are the following items of subscription shown in the Income and Expenditure Account for the year ended 31st March 2019 and Balance sheet as at 31st March 2018 and 2019?

 Rs. Subscription received during the year ended 31st March 2019 3,58,500 Subscription outstanding on 31st March 2018 30,000 Subscription received in Advance on 31st March 2018 22,500 Subscription received in Advance on 31st March 2019 13,500 Subscription outstanding on 31st March 2019 37,500 (Including Rs. 12,500 for the year ended 31st March 2018

### The solution of Question 18 Chapter 1 of +2-A: –

 Income and Expenditure Account Expenditure Amount Income Amount By Subscription 3,58,500 Add: – Closing O/S 25,000 – Opening advance 22,500 4,06,000 Less: – Opening O/S 17,500 – Closing advance 13,500 3,75,000

 Balance Sheet Liabilities Amount Assets Amount Subscription Received in AdvanceAs on 31st March 2019 13,500 Outstanding Subscription For the Year 2017-18 12,500 For the Year 2018-19 25,000 37,500

 Balance Sheet Liabilities Amount Assets Amount Subscription Received in AdvanceAs on 31st March 2019 22,500 Outstanding SubscriptionFor the Year 2017-18 30,000

Calculation of Amount of Subscriptions

 Subscription received During the year 3,58,500 Add: – Subscription outstanding on 31/03/19 (37,500-12,500) 25,000 Subscription received in advance on 31st March 2018 for the year ended on 31st March 2019 22,500 4,06,000 Less: – Subscription in arrear as on 1/4/18 received during the year (30000-12500) 17,500 Subscription received in advance for the year ended 31/03/20 and 31/03/21 13,500 The amount for subscription credited to the Income and Expenditure A/c 3,75,000

Not-for-Profit Organisations – Meaning and Overview

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Also, Check out the solved question of previous Chapters: –