Question 19 Chapter 1 of +2-A
Table of Contents
19. From the following information, calculate the number of subscriptions outstanding for the year ended 31st March 2019:
A club has 200 members each paying an annual subscription. The following additional information is provided:
| Rs. | |
| Subscription outstanding on 31st March 2018 | 30,000 |
| Subscription received in Advance on 31st March 2019 | 40,000 |
| Subscription received in Advance on 31st March 2018 | 14,000 |
The solution of Question 19 Chapter 1 of +2-A: –
| Income and Expenditure Account |
|||
| Expenditure |
Amount | Income | Amount |
| By Subscriptions | 2,00,000 | ||
| (200 X 1000 each) | |||
Calculation of Amount of Outstanding subscription
| Subscription received During the year | 2,05,000 |
| Add: – Subscription received in advance on 31st March 2018 for the year ended on 31st March 2019 | 14,000 |
| 2,19,000 | |
| Less: – Subscription in arrear as on 1/4/18 received during the year (30000-12500) | 30,000 |
| Subscription received in advance for the year ended 31/03/20 | 40,000 |
| Total subscription due for the year ended 31/03/2019 200 X 1000 each |
2,00,000 |
| The amount for subscription credited to the Income and Expenditure A/c | 51,000 |
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
