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 31^st 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.

₹83,000

The correct answer is Option (2) - ₹83,000.

Subscription received During the year 2015-16 = 80,000
Less: Sub. for the year 2014-15                        = 3,000 (previous year)
Less: Sub. for the year 2016-17                        = 6,000 (next year)
                                                                          = (80,000 - 3,000 - 6,000)
                                                                          = 71,000
Add: Sub. outstanding on 31st March 2016       = 12,000
                                                                          = (71,000 + 12,000)
                                                                           = 83,000