Subscriptions received during the year 2014 ~ 7,000
(i) Subscriptions outstanding at the beginning of 2014 ~ 1,400
(iii) Subscriptions outstanding at the closing of 2014 ~ 1,600 Calculate the amount of subscriptions to be credited to Income and Expenditure Account of the year 2014.
Calculate the amount of subscriptions to be credited to Income and Expenditure Account of the year 2014. ~
(i) Subscriptions received during 2014 12,000
(ii) Subscriptions received in advance for 2015 1,600
(iii) Subscriptions outstanding at the beginning of 2014 2,000
(iv) Subscriptions outstanding at the closing of 2014 700
Mr Flier, the treasurer of Fly-High Club for the accounting year April 2014 to March 2015, submits the following data for membership fees.
(i) Cash/cheque received in the year totalled ~ 1,00,000.
(ii) As on 1.4.2014, ~ 2,000 was in arrears for 2013-14 (but cleared by 31-3-2015) and ~ 800 was received by the previous year’s treasurer for Mr Flier.
(iii) Mr Flier received ~ 1,500 towards next year’s fees, but failed to recover ~ 1,700 from his current year’s members. Show the final subscriptions income of the year 2014-15.