As per Receipts and Payments Account for the year ended on March 31, 2020, subscriptions received were Rs. 2,50,000 , subscriptions outstanding on 1-0 - Accountancy MCQ CUET Accountancy 2022 30 Aug Shift 2 2026 | ExamTest.live

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As per Receipts and Payments Account for the year ended on March 31, 2020, subscriptions received were Rs. 2, 50, 000, subscriptions outstanding on 1-04-2019 Rs. 50, 000, Subscriptions received in advance as on 31-3-2020 are Rs. 30, 000 . Subscriptions for the year 2019-20 will be:

Solution & Step-by-step Explanation

Subscriptions for the current year = Total Subscriptions Received - Outstanding of previous year - Advance for next year. = 2, 50, 000 - 50, 000 - 30, 000 = Rs. 1, 70, 000 .

Try it yourself before checking the explanation above.

As per Receipts and Payments Account for the year ended on March 31, 2020, subscriptions received were Rs. 2, 50, 000, subscriptions outstanding on 1-04-2019 Rs. 50, 000, Subscriptions received in advance as on 31-3-2020 are Rs. 30, 000 . Subscriptions for the year 2019-20 will be:

Rs. 2, 30, 000

Rs. 1, 50, 000

Rs. 2, 40, 000

Rs. 1, 70, 000

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