Question

From the following information find out the total amount of subscription to be credited to Income and Expenditue A/c for the year ending 31.12.2004. 

• Subscription received during the year 2004 – 22,000 
• Subscription outstanding on 31.12.2003 – 1200 
• Subscription outstanding on 31/12/2004 – 2400
• Subscription received in advance on 31.12.2004 – 2600. 
• Subscription received in advance on 01.01.2004 – 3200.

Answer 1

	Rs.	Rs.
Subscription received during the year		22000
Add subscription outstanding on 31.12.04	2400
Subscription received in advance on 1.1.2004	3200	5600
Less subscription outstanding on 31.12.03	1200
Subscription received in advance on 31.12.04	2600	3,800
		23800
Amount credited to income and expenditure A/c.