Question no 17 Chapter 1 V K Publication class 12
17. In 2016-17, the subscriptions received were ₹ 21,000. These subscriptions include ₹ 500 for 2015-16 and ₹ 1,000 for 2017-18. On 31st March, 2017 subscriptions due but not received were ₹ 1000. The outstanding amount in 2015-16 was ₹ 500. What amount of subscription should be credited to Income and Expenditure Account for the year ending on 31st March 2017?
The Solution of Question No 17 Chapter No 01 – V K Publications Class 12
| Statement showing Calculation of Subscriptions | |
| Particulars | Amount ₹ |
| Subscriptions received during 2016-17 | 21,000 |
| Less. Subscriptions Received for 2015-16 | 500 |
| Less Subscriptions Received for 2017-18 | 1,000 |
| 19,500 | |
| Add: Subscriptions due but not received for 2016-17 | 1,000 |
| Amount of Subscription to be credited to Income and Expenditure A/c | 20,500 |
Thanks, Please Like and share with your friends
Comment if you have any Doubts.
Not-for-Profit Organisations – Meaning and Overview
What is Receipt and Payment account – format in Excel & PDF
What is Incomes and Expenditures Account – format in Excel & PDF
What is subscription in NPO – Treatments and Examples:
Also, Check out the solved question of all Chapters: –
Advanced Accountancy – Unimax Class 11 – 2021 – Solution.
Part-I
- Chapter No. 1 – Introduction of Accounting
- Chapter No. 2 – Theory Base of Accounting
- Chapter No. 3 – Vouchers and Transactions
- Chapter No. 4 – Journal
- Chapter No. 5 – Goods and Services Tax (GST): An Introduction
- Chapter No. 6 – Ledger
- Chapter No. 7 – Special Purpose Book – Cash Book
- Chapter No. 8 – Other Subsidiary Books
- Chapter No. 9 – Trial Balance
- Chapter No. 10 – Rectification of Errors
- Chapter No. 11 – Depreciation
- Chapter No. 12 – Provision and Reserves
- Chapter No. 13 – Bank Reconciliation Statement
- Chapter No. 14 – Bills of Exchange
Students may choose only one part from the Part II and Part III
Part-II
- Chapter No. 15 – Financial Statements (Without Adjustments)
- Chapter No. 16 – Financial Statements (With Adjustments)
- Chapter No. 17 – Accounts from Incomplete Records – Single Entry System
Part-III
- Chapter No. 18 – Introduction to Computers and Accounting information System
- Chapter No. 19 – Computerised Accounting
- Chapter No. 20 – Accounting Software: Tally
- Chapter No. 21 – Data Base System
- Chapter No. 22 – Concept of Entity and Relationship
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
Chapter No. 14 – Provisions and Reserves
Chapter No. 15 – Bills of Exchange
Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)
Chapter No. 18 – Financial Statements – (With Adjustments)
Check out V. K. Publication Class 12 @ Oficial Website of V. K. Publication