Multiple Choice Questions on Subscription received in cash during the year amounted to Rs40 000 subscription outstanding at the e........... for Commerce 12th Preparation

Back to Main Page

Multiple Choice Questions

Subscription received in cash during the year amounted to Rs40 000 subscription outstanding at the e...........

    Download Solution PDF

    Subscription received in cash during the year amounted to Rs40,000; subscription outstanding at the end of previous year was Rs1,500 and outstanding at the end of current year was Rs2,000. Subscription received in advance for next year was Rs 800. The amount credited to Income & Expenditure Account will be:

    Rs38,700

    Incorrect Answer

    Rs39,700

    Correct Answer

    Rs40,300

    Incorrect Answer

    Rs41.300

    Incorrect Answer
    छोटे Courses बड़े Results
    Master
    Prepare through Micro-courses
    Try Now
    Explanation:

    - Subscription received during the year is Rs 40,000.

    - Outstanding at the end of the previous year was Rs 1,500, which needs to be subtracted as it pretains to previous year.

    - Outstanding at the end of the current year is Rs 2,000, which should be added because it is related to this year.

    - Received in advance for next year is Rs 800, which should be deducted because it relates to next year.

    - Calculation: Rs 40,000 - Rs 1,500 + Rs 2,000 - Rs 800 = Rs 39,700.

    .

    By: santosh
    ProfileResources

    Let's Discuss

    Master
    With abhipedia
    Micro Courses
    Try Now
    What our students have to say
    Review on us
    Download Abhipedia Android App

    Access to prime resources

    Downlod from playstore
    download android app download android app for free