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 = 80000
Less: Sub. for the year 2014-15                       = 3000 (previous year)
Less: Sub. for the year 2016-17                       = 6000 (next year)
                                                                    = (80000 - 3000 - 6000)
                                                                    = 71000
Add: Sub. outstanding on 31st March 2016       = 12000
                                                                    = (71000 + 12000)
                                                                    = 83000