As per Receipts and Payments Account of Kala Club for the year ended 31st March, $\displaystyle 2021$, subscriptions received were ₹ $\displaystyle 4,00$,000. Additional Information : ? Subscriptions outstanding on $\displaystyle 1.4.2020$ $\displaystyle 1,00,000$ Subscriptions outstanding on $\displaystyle 31.3.2021$ $\displaystyle 70,000$ Subscriptions received in advance on $\displaystyle 1.4.2020$ $\displaystyle 50,000$ Subscriptions received in advance on $\displaystyle 31.3.2021$ $\displaystyle 80,000$ Calculate the amount of subscriptions to be shown in Income and Expenditure Account for the year ended 31st March, $\displaystyle 2021$ as income from subscription.

OR

From the following information, calculate the amount of stationery to be shown in Income and Expenditure Account for the year ended $\displaystyle 3$ l st March, $\displaystyle 202$ l Particulars 1st April, $\displaystyle 2020$ 31st March, $\displaystyle 2021$ (€) (€) Creditors for Stationery $\displaystyle 5,600$ $\displaystyle 12,800$ Stock of Stationery $\displaystyle 25,000$ $\displaystyle 35,000$ During the year ended 31st March, $\displaystyle 2021$ payment made to Creditors amounted to $\displaystyle 62$,800. Stationery purchased during the year was $\displaystyle 2,00$,000.

Subscriptions to be shown in Income and Expenditure Account ₹ Subscriptions received as per Receipts and Payment A/c $\displaystyle 4,00,000$ Add : Subscriptions outstanding on $\displaystyle 31.03.2021$ $\displaystyle 70,000$ Add : Subscriptions received in advance on $\displaystyle 01.04.2020$ $\displaystyle 50,000$ Less : Subscriptions outstanding on $\displaystyle 01.04.2020$ (Received in $\displaystyle 2020$–$\displaystyle 21$ for last year) ($\displaystyle 1,00,000$) Less : Subscriptions received in advance on $\displaystyle 31.03.2021$ $\displaystyle (80,000)$ Income from subscriptions for the year $\displaystyle 2020$–$\displaystyle 21$ $\displaystyle 3,40,000$ Alternatively : Dr. Subscriptions A/c Cr. Particulars Amount Particulars Amount (₹) (₹) To Balance b/d/ By Balance b/d/ Outstanding in the Advance in the beginning $\displaystyle 1,00,000$ $\displaystyle 50,000$ beginning By Cash/ Bank To Income and (Subscription received Expenditure A/c $\displaystyle 3,40,000$ during the year -bal. fig.) $\displaystyle 4,00,000$ (Bal. Figure) By Balance c/d/ To Balance c/d/ Outstanding at the end $\displaystyle 70,000$ Advance at the end $\displaystyle 80,000$ $\displaystyle 5,20,000$ $\displaystyle 5,20,000$ Q. (b) From the following information, calculate the amount of stationery…. Ans. Calculation of amount of Stationery to be shown in Income and Expenditure Account: Stationery Consumed during the year= Opening Stock + Stationery Purchased – Closing Stock of Stationery = ₹ $\displaystyle 25,000$ + ₹ $\displaystyle 2,00,000$ – ₹ $\displaystyle 35,000$ = ₹ $\displaystyle 1,90,000$ Alternatively: Dr. Stock of Stationery Account Cr. Particulars Amount Particulars Amount (₹) (₹) To Balance b/d $\displaystyle 25,000$ By Income and Expenditure $\displaystyle 1,90,000$ A/c - Stationery consumed To Purchases $\displaystyle 2,00,000$ (Bal. fig.) By Balance c/d $\displaystyle 35,000$ $\displaystyle 2,25,000$ $\displaystyle 2,25,000$