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 |
Calculate the amount of subscription to be credited to the Income and Expenditure Account for the year 2022-23.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → ₹5,10,000
Income from subscriptions = subscriptions received, less amounts that belong to other years, plus current-year amounts received earlier or not yet received.
Subscriptions received = ₹4,70,000
Less: due on 31 March 2022 (received this year for last year) = ₹25,000
Add: due on 31 March 2023 = ₹30,000
Add: received in advance on 31 March 2022 (belongs to this year) = ₹50,000
Less: received in advance on 31 March 2023 (belongs to next year) = ₹15,000
Income = 4,70,000 − 25,000 + 30,000 + 50,000 − 15,000 = ₹5,10,000
Note: This question is from the pre-rationalised NCERT book. The topic is not there in the latest NCERT book (2026-27), but it is still in the CUET 2026 syllabus, so do not skip it.
NCERT (Pre-rationalised edition):
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