|
Subscriptions
|
Rs.
|
|
|
2008 – 09
|
2500
|
|
|
2009 – 10
|
26750
|
|
|
2010 – 11
|
1000
|
30,250
|
a. Total number
of members: 300
Annual
membership fee: Rs 125
b. Subscription
outstanding for 2009-10 Rs. 6,000.
c. Subscription
outstanding on April 1, 2009: Rs. 2,750
Prepare a statement
showing all relevant items of subscriptions viz. income, advance, outstanding
etc.
Ans 1. This question can be solved
by two methods:
Formula 1.
|
Particular/Income
|
Amount
|
|
Total Subscription received during the year
Add:
1. Subscription received in advance during
Previous Year{p.y advance}
2. Outstanding (arrear) Subscription of
Current year(C.Y O/S}
|
30,250
4,750
6,000
|
|
Less:
1.
Subscription received in advance during current
year(N.Y){C.Y. advance}
2.
Outstanding(arrear) Subscription of Previous year,
received during current year.{P.Y. o/s}
|
41,000
1,000
2,500
|
|
Subscription income of Current Year
|
37,500
|
2nd formulae:
|
Particular/Income
|
Amount
|
|
Total Subscription received of Current year
Add:
1. Subscription received in advance during
Previous Year
2. Outstanding (arrear) Subscription of
Current year
|
26,750
4,750
6,000
|
|
Subscription income of Current Year
|
37,500
|
Working Note:
Subscription received in
advance during Previous year:
Total subscription income for
one year(300 X 125) = 37,500
Less:
1. Total Subscription received
of Current year 26,750
2. Outstanding Subscription of
current year 6,000
Subscription received in
advance during Previous year 4,750
