090Less : Subscription outstanding on 1.4.2013 2001
890Add : Subscription paid in advance on 31.3.2013 501
940Less : Subscription received in advance on 31.3.201440Subscription Income for 2013-2014 1
900Illustration: 4The amount of Subscription appears in the Income and Expenditure Account of South Indian Club is ` 3
000.Adjustments were made in respect of the following:Subscription for 2013 unpaid at 1st Jan.
2014
` 400; ` 200 of which was received in 2014.Subscription paid in advance at 1.1.2014 ` 100.Subscription paid in advance at 31.12.2014 ` 80.Subscription for 2013 unpaid at 31.12.2014 ` 140.Prepare Subscription Account.Solution:Dr. Subscription Account Cr.ParticularsAmount (`)ParticularsAmount (`)To
Balance b/d 400 By
Balance b/d 100To
Income & Expenditure A/c 3
000 By
Cash Received (bal. fig.)3
040To
Balance c/d (paid in advance to 2014) 80 By
Balance (200+140) c/d 3403
480 3
480To
Balance b/d: By
Balance b/d (2014) 80For 2013 200For 2014140Note: Opening outstanding subscription = ` 400 of which ` 200 received in 2014.Illustration: 5From the following information
prepare the Subscription Account for the year ending on March
31
2015(i) Subscription in arrears on 31.03.2014 ` 1
500(ii) Subscription received in advance on 31.03.2014 ` 1
000(iii) Amount of Subscription received during 2014-15 ` 40
0
which includes `1
000 for the year 2013-14
` 1
500 for the year 2015-16.(iv) Subscription outstanding ` 1
0
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