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When subscription can be debited in income and expenditure account

Posted by Lakshita Chandak 6 years, 3 months ago

CBSE > Class 12 > Accountancy

3 answers

Lakshita Chandak 6 years, 3 months ago

Answer:- When arrear / outstanding subscription of previous year is irrevoverable now and to write off as bad *Explanation* For ex: in previous year o/s subscription was Rs. 20,000 of which Rs. 15,000 has been received but remaining will not be receiving as members have left the club..so .. Income & exp a/c Dr 5000 To o/s subscription 5000

Bhoomika Chadha 6 years, 3 months ago

When its our expense ie we need to pay to someone

Ravi Joshi 6 years, 3 months ago

When we give subscriptions

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