Multiple Choice Questions on There are 200 members each paying an annual subscription of Rs 1 000 subscription received during th........... for Commerce 12th Preparation

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Multiple Choice Questions

There are 200 members each paying an annual subscription of Rs 1 000 subscription received during th...........

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    There are 200 members, each paying an annual subscription of Rs 1,000; subscription received during the year Rs,95,000; subscriptions received in advance at the beginning of the year 73,000 and at the end of the year 72,000. – Amount shown in Income & Expenditure Account will be :

    Rs2,00,000

    Correct Answer

    Rs1,96,000

    Incorrect Answer

    Rs1,94,000

    Incorrect Answer

    Rs2,01,000

    Incorrect Answer
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    Explanation:

    Let’s break it down step by step.

    - Each member pays Rs 1,000 a year, and there are 200 members. So, total subscription income for the year should be Rs 2,00,000.

    This is the amount to be credited in Income & Expenditure weather received or not.

    By: santosh
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