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    Question

    Given the information below, what will be the amount of

    subscription in the Receipt & Payment Account and the Income & Expenditure Account, respectively. A sports club received ₹50,000 as subscriptions during the year 2018-19, of which ₹5,000 relate to the year 2017-18 and ₹10,000 to 2019-20. At the end of the year 2018-19. ₹25,000 are still receivable.
    A ₹50,000: ₹60,000 Correct Answer Incorrect Answer
    B ₹60,000: ₹50,000 Correct Answer Incorrect Answer
    C ₹35,000: ₹25,000 Correct Answer Incorrect Answer
    D ₹25,000: ₹35,000 Correct Answer Incorrect Answer

    Solution

    The correct answer is A

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