Page 256 - ISCDEBK-XI

23.4 Double Entry Book Keeping—ISC XI

Dr. SUBSCRIPTIONS OUTSTANDING ACCOUNT Cr.

Date Particulars ` Date Particulars `
2019 2019
April 1 To Balance b/d 8,700 April 1 By Subscriptions A/c (Transfer) 8,700
2020 2020
March 31 To Subscriptions A/c 6,500 March 31 By Balance c/d 6,500
15,200 15,200

Dr. SUBSCRIPTIONS RECEIVED IN ADVANCE ACCOUNT Cr.
Date Particulars ` Date Particulars `
2019 2019
April 1 To Subscriptions A/c 7,100 April 1 By Balance b/d 7,100
(Transfer)
2020 2020
March 31 To Balance c/d 10,800 March 31 By Subscriptions A/c 10,800
17,900 17,900

Illustration 2.
Prepare the “Subscription Account” from the following items for the year ending on
31st March, 2020:
`
(i) Subscriptions in arrear as on 31st March, 2019 500
(ii) Subscriptions received in advance as on 31st March, 2019 for 2019–20 1,100
(iii) Total Subscriptions received during 2019–20 (including ` 400 for
2018–19, ` 1,200 for 2020–21 and ` 300 for 2021–22). 35,400
(iv) Subscriptions outstanding for 2019–20. 400

Solution:
Dr. SUBSCRIPTIONS ACCOUNT Cr.
Date Particulars ` Date Particulars `
2019 2019
April 1 To Subscriptions in Arrear A/c 500 April 1 By Subscriptions Received
(Beginning) in Advance A/c (Beginning) 1,100
2020 2020
March 31 To Income & Expenditure A/c 35,000 March 31 By Cash A/c 35,400
(Balancing Figure) March 31 By Subscriptions in Arrear A/c:
March 31 To Subscription Received (End) 2018–19 100
in Advance A/c: 2019–20 400 500
(End) for 2020–21 1,200
for 2021–22 300 1,500
37,000 37,000