Multiple choice

The subscription income of a club for the year was Rs. 85,000. An amount of Rs. 83,000 was received during the year. Rs. 2800 had been accrued for the subscription during the previous year, out of which Rs. 2000 was received during the current year. There were also advance subscriptions received in the previous year amounting to Rs. 1200. The subscription received in advance during the current year for the coming year was Rs. 300. How much is the total subscription outstanding or due at the end of the year?

  1. Rs. 3900

  2. Rs. 3100

  3. Rs. 2000

  4. Rs. 3200

  5. Rs. 3600
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Subscription income = Subscription received in cash + Accrued closing for the current year + Advance opening - Accrued opening received in current year - Advance closing 85,000 = 83,000 + Accrued closing of current year + 1200 - 2000 - 300 Thus, accrued closing of current year = Rs. 3100 But an amount of Rs. 800 is still due for the previous year. Thus, total accrued at the end of the year = Rs. 3900

Keep practicing — related questions