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Read the text carefully and answer the questions:
One step organisation is an NPO established to work in areas of Environment, Health & Education for the sustainable development of the society, for this, they create replicable and scalable models of plantation through an integrated approach. This organisation was started by Mr. Sushant and his 19 other friends. They all paid life membership fee Rs. 20,000 each. A well known industrialist Mr. Modi donated Rs. 2,00,000 for purchase of plants. All 20 members were to pay annual subscription Rs. 500; two member could not pay the subscription during the year, but other 5 members paid their subscription for the next year. Two gardener’s were appointed at a salary Rs. 2,500 p.m. They had a session to brief about environment and health whom they paid Rs. 2,000.
Q. The subscription not paid by 2 members will be shown where and which side?
  • a)
    Rs. 1000 outstanding subscription liabilities side of Balance Sheet and income side of Incomeand Expenditure Account.
  • b)
    Receipts and Payment A/c only on Receipts side Rs. 1000
  • c)
    Rs. 1000 on Assets side and Income side ofIncome and Expenditure A/c
  • d)
    Expenditure side and Liabilities side of BalanceSheet
Correct answer is option 'C'. Can you explain this answer?
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Read the text carefully and answer the questions: One step organisatio...
Accrued subscription will be shown at income side by adding and assets side of balance sheet.
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Read the text carefully and answer the questions: One step organisatio...


Explanation:

Subscription not paid by 2 members:
- The subscription not paid by 2 members will be shown on the Assets side and Income side of the Income and Expenditure Account.
- It will be shown on the Assets side because it represents the amount receivable from the members.
- It will be shown on the Income side because it is considered as income earned by the organization, even though it has not been received yet.

Placement in the Balance Sheet and Income and Expenditure Account:
- The outstanding subscription of Rs. 1000 (Rs. 500 each from 2 members) will be shown on the Assets side of the Balance Sheet as a current asset.
- It will also be shown on the Income side of the Income and Expenditure Account as income earned during the year.
- The subscription amount not paid by these 2 members represents the organization's income that is yet to be received, hence it is shown on both sides of the accounts.

Importance of showing on both sides:
- By showing the outstanding subscription on both the Assets side of the Balance Sheet and the Income side of the Income and Expenditure Account, the organization accurately reflects its financial position and income earned during the year.
- This ensures transparency and clarity in the organization's financial reporting.
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Read the text carefully and answer the questions: One step organisation is an NPO established to work in areas of Environment, Health & Education for the sustainable development of the society, for this, they create replicable and scalable models of plantation through an integrated approach. This organisation was started by Mr. Sushant and his 19 other friends. They all paid life membership fee Rs. 20,000 each. A well known industrialist Mr. Modi donated Rs. 2,00,000 for purchase of plants. All 20 members were to pay annual subscription Rs. 500; two member could not pay the subscription during the year, but other 5 members paid their subscription for the next year. Two gardener’s were appointed at a salary Rs. 2,500 p.m. They had a session to brief about environment and health whom they paid Rs. 2,000.Q. The subscription not paid by 2 members will be shown where and which side?a)Rs. 1000 outstanding subscription liabilities side of Balance Sheet and income side of Incomeand Expenditure Account.b)Receipts and Payment A/c only on Receipts side Rs. 1000c)Rs. 1000 on Assets side and Income side ofIncome and Expenditure A/cd)Expenditure side and Liabilities side of BalanceSheetCorrect answer is option 'C'. Can you explain this answer?
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Read the text carefully and answer the questions: One step organisation is an NPO established to work in areas of Environment, Health & Education for the sustainable development of the society, for this, they create replicable and scalable models of plantation through an integrated approach. This organisation was started by Mr. Sushant and his 19 other friends. They all paid life membership fee Rs. 20,000 each. A well known industrialist Mr. Modi donated Rs. 2,00,000 for purchase of plants. All 20 members were to pay annual subscription Rs. 500; two member could not pay the subscription during the year, but other 5 members paid their subscription for the next year. Two gardener’s were appointed at a salary Rs. 2,500 p.m. They had a session to brief about environment and health whom they paid Rs. 2,000.Q. The subscription not paid by 2 members will be shown where and which side?a)Rs. 1000 outstanding subscription liabilities side of Balance Sheet and income side of Incomeand Expenditure Account.b)Receipts and Payment A/c only on Receipts side Rs. 1000c)Rs. 1000 on Assets side and Income side ofIncome and Expenditure A/cd)Expenditure side and Liabilities side of BalanceSheetCorrect answer is option 'C'. Can you explain this answer? for Humanities/Arts 2024 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about Read the text carefully and answer the questions: One step organisation is an NPO established to work in areas of Environment, Health & Education for the sustainable development of the society, for this, they create replicable and scalable models of plantation through an integrated approach. This organisation was started by Mr. Sushant and his 19 other friends. They all paid life membership fee Rs. 20,000 each. A well known industrialist Mr. Modi donated Rs. 2,00,000 for purchase of plants. All 20 members were to pay annual subscription Rs. 500; two member could not pay the subscription during the year, but other 5 members paid their subscription for the next year. Two gardener’s were appointed at a salary Rs. 2,500 p.m. They had a session to brief about environment and health whom they paid Rs. 2,000.Q. The subscription not paid by 2 members will be shown where and which side?a)Rs. 1000 outstanding subscription liabilities side of Balance Sheet and income side of Incomeand Expenditure Account.b)Receipts and Payment A/c only on Receipts side Rs. 1000c)Rs. 1000 on Assets side and Income side ofIncome and Expenditure A/cd)Expenditure side and Liabilities side of BalanceSheetCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Humanities/Arts 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the text carefully and answer the questions: One step organisation is an NPO established to work in areas of Environment, Health & Education for the sustainable development of the society, for this, they create replicable and scalable models of plantation through an integrated approach. This organisation was started by Mr. Sushant and his 19 other friends. They all paid life membership fee Rs. 20,000 each. A well known industrialist Mr. Modi donated Rs. 2,00,000 for purchase of plants. All 20 members were to pay annual subscription Rs. 500; two member could not pay the subscription during the year, but other 5 members paid their subscription for the next year. Two gardener’s were appointed at a salary Rs. 2,500 p.m. They had a session to brief about environment and health whom they paid Rs. 2,000.Q. The subscription not paid by 2 members will be shown where and which side?a)Rs. 1000 outstanding subscription liabilities side of Balance Sheet and income side of Incomeand Expenditure Account.b)Receipts and Payment A/c only on Receipts side Rs. 1000c)Rs. 1000 on Assets side and Income side ofIncome and Expenditure A/cd)Expenditure side and Liabilities side of BalanceSheetCorrect answer is option 'C'. Can you explain this answer?.
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The subscription not paid by 2 members will be shown where and which side?a)Rs. 1000 outstanding subscription liabilities side of Balance Sheet and income side of Incomeand Expenditure Account.b)Receipts and Payment A/c only on Receipts side Rs. 1000c)Rs. 1000 on Assets side and Income side ofIncome and Expenditure A/cd)Expenditure side and Liabilities side of BalanceSheetCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Read the text carefully and answer the questions: One step organisation is an NPO established to work in areas of Environment, Health & Education for the sustainable development of the society, for this, they create replicable and scalable models of plantation through an integrated approach. This organisation was started by Mr. Sushant and his 19 other friends. They all paid life membership fee Rs. 20,000 each. 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The subscription not paid by 2 members will be shown where and which side?a)Rs. 1000 outstanding subscription liabilities side of Balance Sheet and income side of Incomeand Expenditure Account.b)Receipts and Payment A/c only on Receipts side Rs. 1000c)Rs. 1000 on Assets side and Income side ofIncome and Expenditure A/cd)Expenditure side and Liabilities side of BalanceSheetCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Read the text carefully and answer the questions: One step organisation is an NPO established to work in areas of Environment, Health & Education for the sustainable development of the society, for this, they create replicable and scalable models of plantation through an integrated approach. This organisation was started by Mr. Sushant and his 19 other friends. They all paid life membership fee Rs. 20,000 each. A well known industrialist Mr. Modi donated Rs. 2,00,000 for purchase of plants. 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The subscription not paid by 2 members will be shown where and which side?a)Rs. 1000 outstanding subscription liabilities side of Balance Sheet and income side of Incomeand Expenditure Account.b)Receipts and Payment A/c only on Receipts side Rs. 1000c)Rs. 1000 on Assets side and Income side ofIncome and Expenditure A/cd)Expenditure side and Liabilities side of BalanceSheetCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice Humanities/Arts tests.
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