Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounts for Non Profit Organsiation

Question:

Excellent sports club received a subscription of ₹470000 during the year 2022-23. The following information was available:

Particulars 31 March 2022 31 March 2023
Subscription due 25000 30000
Subscription received in advance 50000 15000

 

Options:

₹430000

₹440000

₹510000

₹500000

Correct Answer:

₹510000

Explanation:

Subscription received during the year = 470000
+ O/s sub of the current year               + 30000
+ Advance sub of previous year            + 50000
- O/s sub of the previous year              - 25000
- Advance sub of the current year         - 15000
Subscription for the year                   = 510000