Match the following with the amount to be shown in the Income and Exp…

The correct answer is option 3- A-IV, B-I, C-II, D-III.

List 1	List 2
A) Subscription received during the year ₹40,000. Subscription in arrears as on 1-04-2020 is ₹5,000. Subscription in arrears as on 31-03-2021 is ₹8,000	IV) ₹43,000
B) Subscription received during the year ₹40,000 (including ₹4,000 for previous year). Subscription in arrears as on 1-04-2020 is ₹5,000. Subscription in arrears as on 31-03-2021 is ₹9,000	I) ₹44,000
C) Subscription received during the year ₹40,000 (including ₹4,000 for previous year). Subscription in arrears as on 1-04-2020 is ₹5,000. Subscription in arrears for the year ended 31-03-2021 is ₹9,000	II) ₹45,000
D) Subscription received during the year ₹40,000 (including ₹1,000 for previous year). Subscription in arrears as on 1-04-2020 is ₹5,000 out of which 4,000 was not recovered in the current year and written off. Subscription in arrears for the year ended 31-03-2021 is ₹9,000	III) ₹48,000

 

A) Subscription received during the year = 40,000
Add: Subscription in arrears as on 31-03-2021 = 8,000
Less: Subscription in arrears as on 01-04-2020 = 5,000
Amount to be shown in income and expenditure account = ₹43,000

B) Subscription received during the year = 40,000
Add: Subscription in arrears for the year ended 31-03-2021(9,000 - 1,000) = 8,000
Less: Subscription received of previous year = 4,000
Amount to be shown in income and expenditure account = ₹44,000

C) Subscription received during the year = 40,000
Add: Subscription in arrears for the year ended 31-03-2021 = 9,000
Less: Subscription received of previous year = 4,000
Amount to be shown in income and expenditure account = ₹45,000

D) Subscription received during the year = 40,000
Add: Subscription in arrears for the year ended 31-03-2021 = 9,000
Less: Subscription received of previous year = 1,000
Amount to be shown in income and expenditure account = ₹48,000