Multiple choice

Subscription income during an year is Rs. 1,60,000. Subscription accrued at the beginning and at the end is Rs. 20,000 and Rs. 25,000, respectively. Subscription received in advance at the beginning and at the end is Rs. 5,000 and Rs. 7,000, respectively. Find the amount actually received for subscription.

  1. Rs. 1,57,000

  2. Rs. 1,63,000

  3. Rs. 1,67,000

  4. Rs. 1,55,000

  5. Rs. 1,62,000
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let the subscription amount received be Rs. X. Subscription income = Cash received + Accrued closing - Accrued opening + Advance opening - Advance closing 1,60,000 = X + 25,000 - 20,000 + 5,000 - 7,000 X = 1,57,000

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