Calculate the amount of subscriptions to be credited to Income and Expenditure Account for the year 2014.
~
(i) Subscriptions received during 2014
15,000
(ii) Subscriptions outstanding at the end of 2013
2,000
(iii) Subscriptions received in advance on 31st December 2013
1,000
(iv) Subscriptions received in advance on 31st December 2014
3,000
(v) Subscriptions outstanding on 31st December 2014
5,000
Prepare a statement showing subscriptions received in 2014-15 as per Receipts and Payments Account.
~
(i) Subscriptions Income for 2014-15 as per Income and Expenditure Account
82,000
(ii) Advance subscriptions received in 2013-14
4,000
(iii) Subscriptions outstanding at the end of 2014-15 including ~ 1,000 for 2013-14
9,500
(iv) Advance subscriptions received for 2015-16
2,000
(v) Subscriptions written-off during 2014-15
500
(vi) Subscriptions receivable on 1.4.2014
5,000