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From the following information of calculate the amount of subscription outstanding as on 31st March 2021. A club has 200 member each paying an annual sabacriptions of ₹1000 tha receipt and payment account for the year showed a sum of ₹205000 received as subscriptions the following additional information is provided. Subscriptions outstanding on 31st March 2020. 30000 subscriptions received in advance on 31st March 2021. 40000. Sabacriptions received in advance on 31st March 2020. 14000
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Most Upvoted Answer
From the following information of calculate the amount of subscription...
Calculation of Outstanding Subscription


  • Total number of members = 200

  • Annual subscription per member = ₹1000

  • Total subscription received during the year = ₹205000

  • Subscription received in advance on 31st March 2020 = ₹30000

  • Subscription received in advance on 31st March 2021 = ₹40000

  • Subscription received in advance on 31st March 2020 = ₹14000



Calculation:

Total subscription for the year = Total number of members x Annual subscription per member
= 200 x ₹1000
= ₹200000

Subscription outstanding on 31st March 2020 = ₹30000

Subscription received in advance on 31st March 2020 = ₹14000

Therefore, the total subscription for the year after adjusting the above two items = ₹200000 - ₹30000 + ₹14000
= ₹184000

Subscription received in advance on 31st March 2021 = ₹40000

Thus, the subscription outstanding as on 31st March 2021 can be calculated as follows:

Subscription outstanding = Total subscription for the year - Subscription received during the year + Subscription received in advance on 31st March 2021
= ₹184000 - ₹205000 + ₹40000
= ₹19000

Therefore, the amount of subscription outstanding as on 31st March 2021 is ₹19000.
Community Answer
From the following information of calculate the amount of subscription...
2lakh
51000 outstanding subscription for March 31 2021
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From the following information of calculate the amount of subscription outstanding as on 31st March 2021. A club has 200 member each paying an annual sabacriptions of ₹1000 tha receipt and payment account for the year showed a sum of ₹205000 received as subscriptions the following additional information is provided. Subscriptions outstanding on 31st March 2020. 30000 subscriptions received in advance on 31st March 2021. 40000. Sabacriptions received in advance on 31st March 2020. 14000 Related: NCERT Solution - Accounting for Not-for-Profit Organisation (Part - 1)?
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From the following information of calculate the amount of subscription outstanding as on 31st March 2021. A club has 200 member each paying an annual sabacriptions of ₹1000 tha receipt and payment account for the year showed a sum of ₹205000 received as subscriptions the following additional information is provided. Subscriptions outstanding on 31st March 2020. 30000 subscriptions received in advance on 31st March 2021. 40000. Sabacriptions received in advance on 31st March 2020. 14000 Related: NCERT Solution - Accounting for Not-for-Profit Organisation (Part - 1)? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about From the following information of calculate the amount of subscription outstanding as on 31st March 2021. A club has 200 member each paying an annual sabacriptions of ₹1000 tha receipt and payment account for the year showed a sum of ₹205000 received as subscriptions the following additional information is provided. Subscriptions outstanding on 31st March 2020. 30000 subscriptions received in advance on 31st March 2021. 40000. Sabacriptions received in advance on 31st March 2020. 14000 Related: NCERT Solution - Accounting for Not-for-Profit Organisation (Part - 1)? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following information of calculate the amount of subscription outstanding as on 31st March 2021. A club has 200 member each paying an annual sabacriptions of ₹1000 tha receipt and payment account for the year showed a sum of ₹205000 received as subscriptions the following additional information is provided. Subscriptions outstanding on 31st March 2020. 30000 subscriptions received in advance on 31st March 2021. 40000. Sabacriptions received in advance on 31st March 2020. 14000 Related: NCERT Solution - Accounting for Not-for-Profit Organisation (Part - 1)?.
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