During the year 2015-16, subscription received by a sports club were ₹80,000. These included ₹3,000 for the year 2014-15 and ₹6,000 for the year 2016-17. On 31st March 2016, the amount of subscription due but not received was ₹12,000. Calculate the amount of subscription to be shown in Income and Expenditure A/c.
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → ₹83,000
The Income and Expenditure Account shows only the subscription for the current year (2015-16), whether received or not.
Subscription received during 2015-16 = ₹80,000
Less: For 2014-15 (previous year) = ₹3,000
Less: For 2016-17 (next year, received in advance) = ₹6,000
Received for 2015-16 = ₹71,000
Add: Due for 2015-16 but not received = ₹12,000
Income from subscription = ₹83,000
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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