Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounts for Non Profit Organsiation

Question:

Excellent sports club received a subscription of ₹4,70,000 during the year 2022-23. The following information was available:

Particulars 31 March 2022 31 March 2023
Subscription due 25,000 30,000
Subscription received in advance 50,000 15,000

 

Options:

₹4,30,000

₹4,40,000

₹5,10,000

₹5,00,000

Correct Answer:

₹5,10,000

Explanation:

The correct answer is option 3- ₹5,10,000.

Subscription received during the year = 4,70,000
+ O/s sub of the current year               + 30,000
+ Advance sub of previous year            + 50,000
- O/s sub of the previous year              - 25,000
- Advance sub of the current year         - 15,000
Subscription for the year                   = 5,10,000