Question

Calculate amount of subscription which will be treated as income for the year ended 31st March 2019 for each of the following cases:

Answer 1

Correct Answer - Case I-Rs 2,51,000 ; Case II-Rs 54,000 ; Case III-Rs 27,000 ; Case IV -Rs 81,000 ; Case V-Rs 90,000.
Case III .Subscription outstanding in the beginning of the year ended 31st March ,2019 were Collected during the year ended 31st March 2019 and these are included in Rs 25,000. Therefore Rs. 3,000 are to be deducted.
Case V. Subcriptions outstanding at the year ended 31st march 2018 were collected during the year ended 31st March 2019 and these are included in Rs 90,000. Therefore Rs. 5,000 are to be deducted.