From the following Receipts and Payment account, show subscription to be shown in Income and Expenditure Account for the year ending 31.03.2010 and relevant item in the Balance Sheet as at 31.03.2010. Receipts and Payments Account (an extract) (for the year ended 31.03.2010)
The charitable trust has 1000 members each paying Rs.200 as annual subscription. Outstanding subscription as on 31.03.2009 was Rs. 27000/-.
