1.

Compute the amount of subscription from the following items for the year ending 31st December, 2017.1) subscription received during year including rs.600 for 2016 and rs.800 for 2018

Answer»

Answer:

@ Rs. 200 as annual SUBSCRIPTION.

Explanation:

Subscriptions received during the YEAR ended December 31, 2011, by Royal Club were as under

2010 3,000

2011 93,000

2012 2,000

98,000

The club has 500 members each paying @ Rs. 200 as annual subscription. Subscriptions outstanding as on December 31, 2010 are Rs. 6,000. Calculate the amount of subscriptions to be shown as income in the Income and Expenditure Account for the year ended December 31, 2011 and SHOW the relevant data in the Balance SHEET as on that date.



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