Extracts of Receipts and Payments Account for the year ended March 31,

1.	Extracts of Receipts and Payments Account for the year ended March 31, 2016 are given below : ReceiptsRs PaymentsRsSubscriptions: 2014−15 3,000 2015−16 96,000 2016−17 2,500 ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,01,500–––––––––– Rs Subscriptions Outstanding as on March 31, 2015: 5,000 Total Subscriptions Outstanding as on March 31, 2016: 12,000 Subscriptions received in advance as on March 31, 2015: 2,800 Calculate the amount of subscriptions to be shown on the income side of Income and Expenditure A/c and show the relevant data in the balance sheet as at 31st March 2015 and 2016.
Answer» Extracts of Receipts and Payments Account for the year ended March 31, 2016 are given below : $\begin{matrix} Receipts & Rs & Payments & Rs Subscriptions: 2014 - 15 & 3, 000 2015 - 16 & 96, 000 2016 - 17 & 2, 500 ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 1, 01, 500 - -------- - \end{matrix}$ Rs Subscriptions Outstanding as on March 31, 2015: 5,000 Total Subscriptions Outstanding as on March 31, 2016: 12,000 Subscriptions received in advance as on March 31, 2015: 2,800 Calculate the amount of subscriptions to be shown on the income side of Income and Expenditure A/c and show the relevant data in the balance sheet as at 31st March 2015 and 2016.

Extracts of Receipts and Payments Account for the year ended March 31, 2016 are given below : ReceiptsRs PaymentsRsSubscriptions: 2014−15 3,000 2015−16 96,000 2016−17 2,500 ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,01,500–––––––––– Rs Subscriptions Outstanding as on March 31, 2015: 5,000 Total Subscriptions Outstanding as on March 31, 2016: 12,000 Subscriptions received in advance as on March 31, 2015: 2,800 Calculate the amount of subscriptions to be shown on the income side of Income and Expenditure A/c and show the relevant data in the balance sheet as at 31st March 2015 and 2016.

Answer»

Extracts of Receipts and Payments Account for the year ended March 31, 2016 are given below :

$\begin{matrix} Receipts & Rs & Payments & Rs Subscriptions: 2014 - 15 & 3, 000 2015 - 16 & 96, 000 2016 - 17 & 2, 500 ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 1, 01, 500 - -------- - \end{matrix}$

Subscriptions Outstanding as on March 31, 2015: 5,000

Total Subscriptions Outstanding as on March 31, 2016: 12,000

Subscriptions received in advance as on March 31, 2015: 2,800

Calculate the amount of subscriptions to be shown on the income side of Income and Expenditure A/c and show the relevant data in the balance sheet as at 31st March 2015 and 2016.

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