Calculate subscription of current year to be credited to Income and Expenditure account from the following information:Subscription Received Rs. 80,00 - Accountancy MCQ CUET Accountancy 2023 11 June Shift 3 2026 | ExamTest.live

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Calculate subscription of current year to be credited to Income and Expenditure account from the following information:Subscription Received Rs. 80, 000, Subscription Received in Advance Last year Rs. 10, 000, Subscription Received in Advance during this year Rs. 2, 000 and Accrued Subscription at the end of current year Rs. 5, 000 :

Solution & Step-by-step Explanation

To find the subscription amount belonging to the current year: Subscription to be credited = Subscription Received + Advance Received Last Year - Advance Received This Year + Accrued at Current Year End Subscription to be credited = 80, 000 + 10, 000 - 2, 000 + 5, 000 = Rs. 93, 000

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Calculate subscription of current year to be credited to Income and Expenditure account from the following information:Subscription Received Rs. 80, 000, Subscription Received in Advance Last year Rs. 10, 000, Subscription Received in Advance during this year Rs. 2, 000 and Accrued Subscription at the end of current year Rs. 5, 000 :

Rs. 95, 000

Rs. 93, 000

Rs. 82, 000

Rs. 90, 000

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