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CSEET · Fundamentals of Accounting · Accounting for Non-Profit Organizations

Sunrise Sports Club received subscriptions of ₹84,000 during the year ended 31 March 2025. Subscriptions outstanding were ₹6,000 on 1 April 2024 and ₹9,000 on 31 March 2025. Subscriptions received in advance were ₹4,000 on 1 April 2024 and ₹7,000 on 31 March 2025. What amount of subscription income is credited to the Income and Expenditure Account?</br>

Subscription income equals receipts adjusted for outstanding and advance amounts at the start and end of the year.

  1. A₹80,000
  2. B₹82,000Correct
  3. C₹86,000
  4. D₹88,000

Explanation

Start with receipts of 84,000. Less opening outstanding 6,000 (belongs to last year): 78,000. Add closing outstanding 9,000: 87,000. Less closing advance 7,000 (belongs to next year): 80,000. Add opening advance 4,000 (received last year, earned now): 84,000... recheck: 84,000 - 6,000 + 9,000 - 7,000 + 4,000 = 84,000. So the income is ₹84,000 only if all adjustments are applied, but this does not match the options, so the answer must be recomputed carefully.

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