Multiple choice

The amount of subscription received by Chandigarh Club during 2014-15 was Rs. 84,000. This included Rs. 5000 for 2015-16. A subscription of Rs. 9000 was accrued for 2013-14, of which Rs. 7000 was received during 2014-15 and Rs. 10,000 was due for 2014-15. Calculate the subscription income for 2014-15.

  1. Rs. 84,000

  2. Rs. 82,000

  3. Rs. 94,000

  4. Rs. 72,000

  5. Rs. 86,000
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Subscription income = Amount received during the year + Accrued at the end + Advance received during previous year - Accrued in the beginning received during the year - Advance received for next year = 84,000 + 10,000 + Nil - 7000 - 5000 = Rs. 82,000

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