1 View

Question : What amount will be credited to the income and expenditure account for the year ending 31 march 2022 on the basis of the following information:

Particulars 1-4-2021 31-3-2022
Advance Subscription Rs. 16000

Rs. 4000

 Subscriptions received during the year 2021-22 were Rs. 4,00,000.

Option 1: Rs. 4,20,000

Option 2: Rs. 3,80,000

Option 3: Rs. 3,88,000

Option 4: Rs. 4,12,000


Team Careers360 18th Jan, 2024
Answer (1)
Team Careers360 19th Jan, 2024

Correct Answer: Rs. 4,12,000


Solution :

Particulars Amount
Subscriptions received during the year Rs. 400000
Add: Advance subscription at the beginning of the year Rs. 16000
Less: Advance subscription at the end of the Year Rs. 4000
Subscriptions credited to Income and Expenditure A/c Rs. 412000

Hence, the correct option is 4.

Related Questions

Question : In the year 2020-21, salaries paid amounted to Rs.1,20,000. Find the amount to be debited to Income and Expenditure Account for the year ending 31st march 2021 after considering the following information:

1 Views
CLAT Current Affairs with GK ...
Apply
Stay updated with current affairs & check your preparation with the CLAT General Knowledge Mock Tests Ebook
CLAT English Language Mock Tests
Apply
Free Ebook - CLAT 2025 English Language questions with detailed solutions
ICFAI Business School-IBSAT 2024
Apply
9 IBS Campuses | Scholarships Worth Rs 10 CR
CLAT Legal Reasoning Mock Tests
Apply
Free Ebook - CLAT 2025 legal reasoning questions with detailed solutions
GIBS Business School Bangalor...
Apply
100% Placements with 220+ Companies
Great Lakes PGPM & PGDM 2025
Apply
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books