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

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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.)
  Subscription4,20,000
  Less: Outstanding for 2017-1814,000
  Add: Outstanding for 218-1910,0004,16,000

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



Location: India

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