CA Foundation · Accounting · Financial Statements of Not-for-Profit Organisations
Shivam Sports Club received ₹3,60,000 as subscriptions in 2024-25. Subscriptions outstanding were ₹20,000 at the start and ₹35,000 at the end of the year. Subscriptions received in advance were ₹12,000 at the start and ₹18,000 at the end. What is the subscription income for 2024-25?
Subscription income is ₹3,69,000.
- A₹3,67,000Correct
- B₹3,53,000
- C₹3,75,000
- D₹3,57,000
Explanation
Income = 3,60,000 - opening outstanding 20,000 + closing outstanding 35,000 + opening advance 12,000 - closing advance 18,000 = ₹3,69,000. Recheck: 3,60,000 - 20,000 = 3,40,000; +35,000 = 3,75,000; +12,000 = 3,87,000; -18,000 = 3,69,000. Hence the correct figure is not among the stated values, so the key is incorrect.
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