4 Views

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:

3 Views
East Point College | BBA Admi...
Apply
NBA Accredited | AICTE Approved
TAPMI MBA 2025 | Technology M...
Apply
MBA Admission Open in Technology Management and AI & Data Science | NAAC A++ | Institution of Eminence | Assured Scholarships
Amity University, Noida Law A...
Apply
700+ Campus placements at top national and global law firms, corporates, and judiciaries
East Point College | MBA Admi...
Apply
NBA Accredited | AICTE Approved
Chitkara University MBA Admis...
Apply
NAAC A+ Accredited | 100% CAMPUS RECRUITMENT
Amrita Vishwa Vidyapeetham | ...
Apply
Recognized as Institute of Eminence by Govt. of India | NAAC ‘A++’ Grade | Upto 75% Scholarships | Extended Application Deadline: 30th Jan
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