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A club has 500 members each paying annual subscription received in advance Rs 10000. Subscription received during the year Rs 30000. Calculate the amount of outstanding subscription?
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A club has 500 members each paying annual subscription received in adv...
Calculation of Outstanding Subscription for the Club
Given Data:
Calculation:
Conclusion:
The outstanding subscription for the club is Rs 30,000. This means that the club has received Rs 50,00,000 in advance from its members, but only Rs 30,000 has been received during the year. Therefore, the remaining amount of Rs 30,000 is still outstanding and needs to be collected from the members.
Given Data:
- Number of club members = 500
- Annual subscription received in advance = Rs 10,000
- Subscription received during the year = Rs 30,000
Calculation:
- Total subscription received in advance = Number of club members * Annual subscription received in advance
- Total subscription received in advance = 500 * 10,000
- Total subscription received in advance = Rs 50,00,000
- Total subscription for the year = Total subscription received in advance + Subscription received during the year
- Total subscription for the year = 50,00,000 + 30,000
- Total subscription for the year = Rs 50,30,000
- Outstanding subscription = Total subscription for the year - Total subscription received in advance
- Outstanding subscription = 50,30,000 - 50,00,000
- Outstanding subscription = Rs 30,000
Conclusion:
The outstanding subscription for the club is Rs 30,000. This means that the club has received Rs 50,00,000 in advance from its members, but only Rs 30,000 has been received during the year. Therefore, the remaining amount of Rs 30,000 is still outstanding and needs to be collected from the members.
Community Answer
A club has 500 members each paying annual subscription received in adv...
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A club has 500 members each paying annual subscription received in advance Rs 10000. Subscription received during the year Rs 30000. Calculate the amount of outstanding subscription?
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