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Income and expenditure account shows subscriptions at 10000. subscriptions accured in the beginning of the year and at the end of the year were 1000 and 1500 respectively . the figure of subscriptions received appearing in receipts and payments account will be?
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Income and expenditure account shows subscriptions at 10000. subscript...
Explanation:
An income and expenditure account is a statement that shows the income and expenditure of an organization for a particular period. It helps to determine the financial position of the organization for that period. In this case, the income and expenditure account shows subscriptions at 10000.
Accrual of subscriptions:
Accrued subscriptions are those subscriptions that are due but not yet paid. In this case, subscriptions accrued in the beginning of the year and at the end of the year were 1000 and 1500 respectively.
Figure of subscriptions received:
The figure of subscriptions received appearing in receipts and payments account will be the actual amount received during the year. It will not include the amount of accrued subscriptions. Therefore, the figure of subscriptions received appearing in receipts and payments account will be:
Subscriptions received = Total subscriptions - Accrued subscriptions
Subscriptions received = 10000 - (1000 + 1500)
Subscriptions received = 7500
Therefore, the figure of subscriptions received appearing in receipts and payments account will be 7500.
Summary:
- Income and expenditure account shows subscriptions at 10000.
- Subscriptions accrued in the beginning of the year and at the end of the year were 1000 and 1500 respectively.
- The figure of subscriptions received appearing in receipts and payments account will be the actual amount received during the year.
- The figure of subscriptions received appearing in receipts and payments account will be 7500.
An income and expenditure account is a statement that shows the income and expenditure of an organization for a particular period. It helps to determine the financial position of the organization for that period. In this case, the income and expenditure account shows subscriptions at 10000.
Accrual of subscriptions:
Accrued subscriptions are those subscriptions that are due but not yet paid. In this case, subscriptions accrued in the beginning of the year and at the end of the year were 1000 and 1500 respectively.
Figure of subscriptions received:
The figure of subscriptions received appearing in receipts and payments account will be the actual amount received during the year. It will not include the amount of accrued subscriptions. Therefore, the figure of subscriptions received appearing in receipts and payments account will be:
Subscriptions received = Total subscriptions - Accrued subscriptions
Subscriptions received = 10000 - (1000 + 1500)
Subscriptions received = 7500
Therefore, the figure of subscriptions received appearing in receipts and payments account will be 7500.
Summary:
- Income and expenditure account shows subscriptions at 10000.
- Subscriptions accrued in the beginning of the year and at the end of the year were 1000 and 1500 respectively.
- The figure of subscriptions received appearing in receipts and payments account will be the actual amount received during the year.
- The figure of subscriptions received appearing in receipts and payments account will be 7500.
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Income and expenditure account shows subscriptions at 10000. subscriptions accured in the beginning of the year and at the end of the year were 1000 and 1500 respectively . the figure of subscriptions received appearing in receipts and payments account will be?
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Income and expenditure account shows subscriptions at 10000. subscriptions accured in the beginning of the year and at the end of the year were 1000 and 1500 respectively . the figure of subscriptions received appearing in receipts and payments account will be? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Income and expenditure account shows subscriptions at 10000. subscriptions accured in the beginning of the year and at the end of the year were 1000 and 1500 respectively . the figure of subscriptions received appearing in receipts and payments account will be? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Income and expenditure account shows subscriptions at 10000. subscriptions accured in the beginning of the year and at the end of the year were 1000 and 1500 respectively . the figure of subscriptions received appearing in receipts and payments account will be?.
Income and expenditure account shows subscriptions at 10000. subscriptions accured in the beginning of the year and at the end of the year were 1000 and 1500 respectively . the figure of subscriptions received appearing in receipts and payments account will be? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Income and expenditure account shows subscriptions at 10000. subscriptions accured in the beginning of the year and at the end of the year were 1000 and 1500 respectively . the figure of subscriptions received appearing in receipts and payments account will be? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Income and expenditure account shows subscriptions at 10000. subscriptions accured in the beginning of the year and at the end of the year were 1000 and 1500 respectively . the figure of subscriptions received appearing in receipts and payments account will be?.
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