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 |
Answer & explanation
Correct answer: option 3
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