Calculate subscription received during the year 2021-22 from the following information :
Amount of subscription credited to Income and Expenditure A/c for the year ended 2021-22 Rs. 1,05,000
Subscription received in advances as on 31 March, 2022 Rs. 10,000
Subscription received in advances as on 31 March, 2021 Rs. 7000
Subscription outstanding as on 31 March, 2021 Rs. 10,500
Subscription outstanding as on 31 March, 2022 Rs. 20,500
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Rs. 98,000
The Income and Expenditure Account shows the subscription for the year (Rs. 1,05,000). The cash received is found by adjusting it for the amounts that belong to other years.
Subscription for 2021-22 = Rs. 1,05,000
Add: outstanding on 31 March 2021, received this year = Rs. 10,500
Less: outstanding on 31 March 2022, not yet received = Rs. 20,500
Add: received in advance on 31 March 2022, for next year = Rs. 10,000
Less: received in advance on 31 March 2021, already received last year = Rs. 7,000
Subscription received in 2021-22 = Rs. 98,000
Note: This question is from the pre-rationalised NCERT book. The topic is not there in the latest NCERT book (2026-27), but it is still in the CUET 2026 syllabus, so do not skip it.
NCERT (Pre-rationalised edition):
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