Subscriptions received during the year ended March 31, 2016 by Royal C

1.	Subscriptions received during the year ended March 31, 2016 by Royal Club were as under: Rs2014−15 3,0002015−1693,0002016−17 2,000––––––98,000–––––––– The club has 500 members each paying Rs 200 as annual subscription. Subscriptions outstanding as on March 31, 2015 were Rs 8,000. Calculate the amount of subscriptions to be shown as income in the Income and Expenditure Account for the year ended March 31, 2016 and show the relevant data in the Balance Sheet as at 31st March 2015 and 2016.
Answer» Subscriptions received during the year ended March 31, 2016 by Royal Club were as under: $\begin{matrix} Rs 2014 - 15 & 3, 000 2015 - 16 & 93, 000 2016 - 17 & 2, 000 - ---- - 98, 000 - ------ - \end{matrix}$ The club has 500 members each paying Rs 200 as annual subscription. Subscriptions outstanding as on March 31, 2015 were Rs 8,000. Calculate the amount of subscriptions to be shown as income in the Income and Expenditure Account for the year ended March 31, 2016 and show the relevant data in the Balance Sheet as at 31st March 2015 and 2016.

Subscriptions received during the year ended March 31, 2016 by Royal Club were as under: Rs2014−15 3,0002015−1693,0002016−17 2,000––––––98,000–––––––– The club has 500 members each paying Rs 200 as annual subscription. Subscriptions outstanding as on March 31, 2015 were Rs 8,000. Calculate the amount of subscriptions to be shown as income in the Income and Expenditure Account for the year ended March 31, 2016 and show the relevant data in the Balance Sheet as at 31st March 2015 and 2016.

Answer»

Subscriptions received during the year ended March 31, 2016 by Royal Club were as under:

$\begin{matrix} Rs 2014 - 15 & 3, 000 2015 - 16 & 93, 000 2016 - 17 & 2, 000 - ---- - 98, 000 - ------ - \end{matrix}$

The club has 500 members each paying Rs 200 as annual subscription. Subscriptions outstanding as on March 31, 2015 were Rs 8,000. Calculate the amount of subscriptions to be shown as income in the Income and Expenditure Account for the year ended March 31, 2016 and show the relevant data in the Balance Sheet as at 31st March 2015 and 2016.

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