Subscriptions received during the year ended March 31st, 2006 by King

1.	Subscriptions received during the year ended March 31st, 2006 by King Club were as under: 2004−05 Rs 3,0002005−06 Rs 93,0002006−07 Rs 2,000 ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯Rs 98,000––––––––––– The Club has 500 members each paying Rs 200 as annual subscription. Subscriptions outstanding as on March 31st, 2005 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 31st, 2006 and show the relevant data in the Balance Sheet as on 31st March, 2005 and 2006.
Answer» Subscriptions received during the year ended March 31st, 2006 by King Club were as under: $\begin{matrix} 2004 - 05 Rs 3, 000 2005 - 06 Rs 93, 000 2006 - 07 Rs 2, 000 ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ Rs 98, 000 - --------- - \end{matrix}$ The Club has 500 members each paying Rs 200 as annual subscription. Subscriptions outstanding as on March 31st, 2005 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 31st, 2006 and show the relevant data in the Balance Sheet as on 31st March, 2005 and 2006.

Subscriptions received during the year ended March 31st, 2006 by King Club were as under: 2004−05 Rs 3,0002005−06 Rs 93,0002006−07 Rs 2,000 ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯Rs 98,000––––––––––– The Club has 500 members each paying Rs 200 as annual subscription. Subscriptions outstanding as on March 31st, 2005 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 31st, 2006 and show the relevant data in the Balance Sheet as on 31st March, 2005 and 2006.

Answer»

Subscriptions received during the year ended March 31st, 2006 by King Club were as under:

$\begin{matrix} 2004 - 05 Rs 3, 000 2005 - 06 Rs 93, 000 2006 - 07 Rs 2, 000 ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ Rs 98, 000 - --------- - \end{matrix}$

The Club has 500 members each paying Rs 200 as annual subscription. Subscriptions outstanding as on March 31st, 2005 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 31st, 2006 and show the relevant data in the Balance Sheet as on 31st March, 2005 and 2006.

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