A Club Has 200 Members Each Paying An Annual Subscription Of ₹ 1,000. The Receipts and Payments Account For the Year Showed A Sum of ₹ 2,05,000

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From the following information, calculate amount of subscriptions outstanding for the year ended 31st March, 2019:

A club has 200 members each paying an annual subscription of ₹ 1,000. The Receipts and Payments Account for the year showed a sum of ₹ 2,05,000 received as subscriptions. The following additional information is provided :

 ₹
Subscriptions Outstanding on 31st March, 201830,000
Subscriptions Received in Advance on 31st March, 201940,000
Subscriptions Received in Advance on 31st March, 201814,000





Subscriptions Account
for the year ended 31st March, 2019

ParticularsAmount (Rs.)ParticularsAmount (Rs.)
Income and Expenditure (200 × 100)2,00,000Bank
(Subscriptions Received)		2,05,000
Outstanding Subscriptions in the beginning30,000Advance Subscriptions in the beginning14,000
Advance Subscriptions at the end of the year40,000Outstanding Subscriptions at the end of the year(Balancing Figure)51,000
 2,70,000 2,70,000

Chapter-1 Financial Statements of Not for Profit Organisations-TS Grewal



Location: India

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