Question : There are 400 members of the club, each paying an annual subscription of Rs 200. Total subscriptions received during the year 2018-2019 were Rs 78,000 (including Rs 4,000 for last year and Rs 1,000 for next year) During 2017-2018, 15 members had paid their subscription for 2018-2019 also. What is the subscription outstanding for the current year?
Option 1: Rs 9,000
Option 2: Rs 80,000
Option 3: Rs 4,000
Option 4: Rs 3,000
Correct Answer: Rs 4,000
Solution : Annual subscription due = Rs.80,000 (Rs.200 X 400) (-) Total subscriptions received = (Rs.73,000) [78,000-5,000 (4,000+1,000)] (-) Subscription paid (15 X Rs.200) = (Rs.3,000) Oustanding closing subscription = Rs.4,000 Hence, the correct option is 3.
Question : There are 1,000 members, each paying an annual subscription of Rs.50. Subscription received during the year is Rs.45,000. Subscriptions received in advance at the beginning of the year Rs.1,800. What will be debited to the Receipts and Payments Account?
Question : A sports club received Rs.52,000 as subscription during the year. The club has 750 members each paying an annual subscription of Rs.100 each. Last year, 55 members of the club paid
Question : There are 1000 members in the sports club paying an annual subscription of Rs 50 each. Subscription received during the year Rs 38,000 including Rs 6000 for next year. -------- will be shown as an outstanding subscription at the end of the year.
Question : How much amount is recorded in Income and Expenditure A/c if there are 800 members, each paying an annual subscription of Rs.120? Subscriptions received during the year Rs. 54,000; Subscription received in advance at the beginning of the year Rs.1,000.
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