New Upcoming Legal Jobs Free Workshop March 11 at 5 PM. Register here

    Question

    The following is the subscription information of a

    sports club for the year ending 31.03.2023:    What is the total subscription received during the year 2022-23?
    A ₹ 92,000 Correct Answer Incorrect Answer
    B ₹ 95,000 Correct Answer Incorrect Answer
    C ₹ 97,000 Correct Answer Incorrect Answer
    D ₹ 99,000 Correct Answer Incorrect Answer

    Solution

    Step-by-step Calculation: 1.Total Subscription for the Year

    • 80 members × ₹ 1,200 = ₹ 96,000
    2.Adjustments: oOutstanding as on 31.03.2022 (Previous year due, now received) = + ₹ 14,000
    • Outstanding as on 31.03.2023 (Not received yet, to be deducted) = - ₹ 20,000
    • Advance received as on 31.03.2022 (Already received, to be deducted) = - ₹ 10,000
    • Advance received as on 31.03.2023 (Received now, to be added) = + ₹ 9,000
    3.Total Subscription Received₹ 96,000 + ₹ 14,000 - ₹ 20,000 - ₹ 10,000 + ₹ 9,000 = ₹ 95,000

    Practice Next

    Relevant for Exams: