Question

Subscription received by Anuragha sports club during 2008 amounted to Rs. 25,400, which included Rs. 2,500 received in arrears for the year 2007 and Rs. 4,200 received in advance for 2009. It is found that Rs. 4000 has not been received for the current year (2008) and that Rs. 2,400 was received in advance in 2007 as subscription for 2008.

Calculate income from subscription for the year 2008.

Answer 1

	Amount	Amount
Subscription received during the year		25,400
Add outstanding subscription for 2008	4,000
Add Subscription received in 2007 for 2008	2,400	6,400
		31,800
Less  Received in arrears for 2007	2,500
Less Received in advance for 2009	4,200	6,700
		25,100