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In the year ended 31st March, 2018, subscriptions received were 21,00,000. These subscriptions include ₹30,000 first the year ended 31st March 2017 and ₹40,000 for the year ending 31st March 2019. On 31st March 2018, subscriptions due but not received were ₹50,000. The corresponding amount on 1st April 2017 was ₹60,000. Determine the amount that should be credited to income and expenditure account as subscriptions for the year ended 31st March 2018?
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In the year ended 31st March, 2018, subscriptions received were 21,00,...
Calculation of Subscriptions for the Year Ended 31st March 2018

Given Information:
- Subscriptions received for the year ended 31st March 2018 = ₹21,00,000
- Subscriptions received for the year ended 31st March 2017 = ₹30,000
- Subscriptions due but not received on 31st March 2018 = ₹50,000
- Subscriptions due but not received on 1st April 2017 = ₹60,000
- Subscriptions received for the year ending 31st March 2019 = ₹40,000

Calculation:
- Subscriptions received for the year ended 31st March 2018 = ₹21,00,000
- Add: Subscriptions due but not received on 1st April 2017 = ₹60,000
- Total subscriptions for the year ended 31st March 2018 = ₹21,60,000
- Less: Subscriptions due but not received on 31st March 2018 = ₹50,000
- Subscriptions to be credited to income and expenditure account for the year ended 31st March 2018 = ₹21,10,000 (₹21,60,000 - ₹50,000)

Explanation:
- The subscriptions received during the year ended 31st March 2018 were ₹21,00,000.
- However, the subscriptions due but not received on 31st March 2018 were ₹50,000.
- Therefore, the actual subscriptions received during the year ended 31st March 2018 were ₹21,60,000 (₹21,00,000 + ₹60,000).
- Out of this, ₹50,000 remained due and not received on 31st March 2018.
- Hence, the amount to be credited to income and expenditure account for the year ended 31st March 2018 is ₹21,10,000 (₹21,60,000 - ₹50,000).
- This amount represents the actual subscriptions received during the year ended 31st March 2018 and should be credited to income and expenditure account as income.
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In the year ended 31st March, 2018, subscriptions received were 21,00,...
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In the year ended 31st March, 2018, subscriptions received were 21,00,000. These subscriptions include ₹30,000 first the year ended 31st March 2017 and ₹40,000 for the year ending 31st March 2019. On 31st March 2018, subscriptions due but not received were ₹50,000. The corresponding amount on 1st April 2017 was ₹60,000. Determine the amount that should be credited to income and expenditure account as subscriptions for the year ended 31st March 2018?
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In the year ended 31st March, 2018, subscriptions received were 21,00,000. These subscriptions include ₹30,000 first the year ended 31st March 2017 and ₹40,000 for the year ending 31st March 2019. On 31st March 2018, subscriptions due but not received were ₹50,000. The corresponding amount on 1st April 2017 was ₹60,000. Determine the amount that should be credited to income and expenditure account as subscriptions for the year ended 31st March 2018? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about In the year ended 31st March, 2018, subscriptions received were 21,00,000. These subscriptions include ₹30,000 first the year ended 31st March 2017 and ₹40,000 for the year ending 31st March 2019. On 31st March 2018, subscriptions due but not received were ₹50,000. The corresponding amount on 1st April 2017 was ₹60,000. Determine the amount that should be credited to income and expenditure account as subscriptions for the year ended 31st March 2018? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the year ended 31st March, 2018, subscriptions received were 21,00,000. These subscriptions include ₹30,000 first the year ended 31st March 2017 and ₹40,000 for the year ending 31st March 2019. On 31st March 2018, subscriptions due but not received were ₹50,000. The corresponding amount on 1st April 2017 was ₹60,000. Determine the amount that should be credited to income and expenditure account as subscriptions for the year ended 31st March 2018?.
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