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Please teach me all the adjestment related to subscription . Everytime this adjestment spoils my whole question.

Posted by Divyanshika Divu 6 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 6 years, 10 months ago

Hope this independent questions on subscription will make you confusion clear.

Illustration A

Calculate the amount to be shown in Receipts and Payments Account for the year ended 31st Dec. 2004

1. Income and Expenditure Account shows a sum of Rs 7,500 against subscription during 2004.

2. Subscriptions outstanding at Dec. 2003—Rs 600.

3. Subscriptions received in advance in Dec. 2003—Rs 450

4. Subscriptions received in advance in Dec. 2004—Rs 270

5. Subscriptions outstanding at Dec. 2004—Rs 750

Solution:

Illustration B:

From the following, find out the amount of subscriptions to be credited to Income and Expenditure Account for the year 2006.

Subscriptions received in 2006 – Rs. 48,000 which include Rs. 4,000 for 2005 and Rs. 8,000 for 2007.

Subscriptions due but not received at the end of the year 2006 were Rs. 20,000.

Subscriptions received in 2005 in advance for 2006 were Rs. 12,000

Solution:

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CBSE > Class 12 > Accountancy

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