Multiple Choice Questions on Subscription received during the year 1 80 000 Subscriptions outstanding at the end of the year 20 0........... for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Subscription received during the year 1 80 000 Subscriptions outstanding at the end of the year 20 0...........

General Accounting Principles Not for profit organisation
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    Subscription received during the year ` 1,80,000; Subscriptions outstanding at the end of the year ` 20,000; Subscriptions received in advance at the end of the year ` 10,000. The amount of subscription to be credited to Income and Expenditure Account will be—

    2,10,000

    Incorrect Answer

    1,90,000

    Correct Answer

    1,70,000

    Incorrect Answer

    2,00,000

    Incorrect Answer
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    Explanation:

    Rs.1,90,000

    Subscription received during the year -  Rs1,80,000

    add -Subscription outstanding at the end = Rs 20,000

    less -Subscription received in advance at the end of year = Rs 10,000

    Subsription to be recorded in Income & expenditure account = Rs 1,90,000

    By: Subhash Singh
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