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in Accounting for Not For Profit Organisation by (27.3k points)
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From the given particulars ascertain the amount to be credited to income and expenditure account for the year ending 31.12.08.

Subscription received during the year – Rs. 18,000 

Subscription outstanding oh 31.12.08 – Rs. 1,000 

Subscription received in advance on 31.12.08 – Rs. 1,200 

Subscription received in advance on 31.12.07 – Rs. 700 

Subscription outstanding on 31.12.07 – Rs. 100 of which Rs. 900 were received in 2008.

1 Answer

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Best answer
Subscription received in 2008 18000
Add Subscription outstanding on 31.12.08 1000
Subscription received in advance as on 31.12.07 700 1700
19700
Less subscription received in advance on 31/12/08 1200
Subscription outstanding as on 31.12.07 900 2100
Amount to be credited to income and Expenditure A/c 17,600

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