In the year ended 31st March, 2019, subscriptions received by the Jaipur Literary Society were ₹ 4,20,000 - T.S. Grewal Accountancy

In the year ended 31st March, 2019, subscriptions received by the Jaipur Literary Society were ₹ 4,20,000. These subscriptions include ₹ 14,000 received for the year ended 31st March, 2018. On 31st March, 2019, subscriptions due but not received were ₹ 10,000. What amount should be credited to Income and Expenditure Account for the year ended 31st March, 2019 as subscription?

Income and Expenditure Account 

for the year ended March 31, 2019

Expenditure	Amount (Rs.)	Income		Amount (Rs.)
		Subscription	4,20,000
		Less: Outstanding for 2017-18	14,000
		Add: Outstanding for 218-19	10,000	4,16,000

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

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