Question 19 Chapter 1 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 19 Chapter 1 of +2-A

Question 19 Chapter 1 of +2-A

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)

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

2 Book 1 min - Question 19 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