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Receipts and Payments Account of Friends Club showed that ₹ 6,85,000 were received by way of subscriptions for the year ended on 31st March, 2018.The additional information was as under :(a) Subscription outstanding as on 31st March, 2017 were ₹ 65,000 .(b) Subscription received in advance as on 31st March , 2017 were ₹ 41,000.(c) Subscription outstanding as on 31st March, 2018 were ₹ 54,000 .(d) Subscription received in advance as on 31st March , 2018 were ₹ 25,000.Show how the above information would appear in the final accounts for the year ended on 31st March, 2018 of Friends Club. |
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Answer» Receipts and Payments Account of Friends Club showed that ₹ 6,85,000 were received by way of subscriptions for the year ended on 31st March, 2018. The additional information was as under : (a) Subscription outstanding as on 31st March, 2017 were ₹ 65,000 . (b) Subscription received in advance as on 31st March , 2017 were ₹ 41,000. (c) Subscription outstanding as on 31st March, 2018 were ₹ 54,000 . (d) Subscription received in advance as on 31st March , 2018 were ₹ 25,000. Show how the above information would appear in the final accounts for the year ended on 31st March, 2018 of Friends Club. |
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