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

Question 19 Chapter 1 of +2-A
Question No.19 - Chapter No.1 - T.S. Grewal +2 Book Part-A 2019-Solution-min-min

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Question 19 Chapter 1 of +2-A

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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 201940,000
Subscription received in Advance on 31st March 201814,000

 

The solution of Question 19 Chapter 1 of +2-A: –

Income and Expenditure Account
Expenditure
AmountIncome Amount
  By Subscriptions2,00,000
  (200 X 1000 each) 

Calculation of Amount of Outstanding subscription

Subscription received During the year2,05,000
Add: – Subscription received in advance on 31st March 2018 for the year ended on 31st March 201914,000
 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 31/03/2040,000
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/c51,000

                                             

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Not-for-Profit Organisations – Meaning and Overview

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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)

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)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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