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From the following information , calculate amount of subscriptions outstanding for the year ended 31st March, 2018: A club has 200 embers each paying an annual subscription of ₹ 1,000. The Receipts and Payments Account for the year showed a sum of ₹ 2,05,000 received as subscriptions. The following additional information is provided: Subscriptions Outstanding on 31st March, 2017 – ₹ 30,000 Subscriptions Received in Advance on 31st March, 2018 – ₹ 40,000 Subscriptions Received in Advance on 31st March, 2017 – ₹ 14,000 |
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Answer» ptions AccountThe outstanding subscriptions at the end of the year needs to be FOUND that is the BALANCING FIGURE arrived from the subscriptions account. |
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