Question : Salary paid for the year ended 31st March, 2019 amounted to Rs 1,00,000 and Salary recorded in Income and expenditure account was Rs 99,700. Outstanding salary on 1st April 2018 Rs 6,500 and advance paid in 2018 for 2019 Rs 3,200. Advance paid in 2019 for 2020 were Rs 3,000. Calculate the amount of subscription due at the end of the current year will be _________.
Option 1: Rs 9,200
Option 2: Rs 6,000
Option 3: Rs 10,200
Option 4: Rs 6,600
Correct Answer: Rs 6,000
Solution : Salary recorded in Income and expenditure account = Rs 99,700 Salary paid for the year ended 31st March, 2019 = (Rs 1,00,000) (+) Outstanding salary = Rs 6,500 (-) Advance paid in 2018 for 2019 = (Rs 3,200) (+) Advance paid in 2019 for 2020 = Rs.3,000 Amount of subscription due at the end of the current year = Rs.6,000 Hence, the correct option is 2.
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