Particulars | Amt (Rs.) |
Subscriptions | |
2016-17 | 1,000 |
2017-18 | 28,000 |
2018-19 | 500 |
Answer:
Income and Expenditure Account Dr for the year ending 31st March, 2018
Note: Subscription for the year should be \[1,000\times 30=30,000,\]but as per receipts and payments account, received for the current year Rs. 28,000 only, so Rs. 2,000 is outstanding. Balance Sheet as at 31st March, 2018 Expenditure Amt (Rs.) Income Amt (Rs.) Subscription 28,000 (+) Outstanding for Current Year 2,000 30,000
Balance Sheet as at 31st March, 2018 Liabilities Amt (Rs.) Assets Amt (Rs.) Subscription Due 1,300
Liabilities Amt (Rs.) Assets Amt (Rs.) Subscription Received in Advance 500 Outstanding Subscription 2017 (1,300 ? 1,000) 300 2018 2,000 2,300
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