From the following information, calculate the amount of outstanding subscription which is shown in closing balance sheet: Opening outstanding subscription Rs 10,000, subscription received during the year Rs 20,000, in which opening outstanding subscription received Rs 6,000 and advance subscription Rs 7,000 is included. There are 50 members, each pays Rs 400 annual subscription.
A. Rs 20,000
B. Rs 21,000
C. Rs 17,000
D. Rs 13,000
Answer:D
From the following information, calculate the amount of outstanding subscription which is shown in closing balance sheet: Opening outstanding subscription Rs 10,000, subscription received during the year Rs 20,000, in which opening outstanding subscription received Rs 6,000 and advance subscription Rs 7,000 is included. There are 50 members, each pays Rs 400 annual subscription.
A. Rs 20,000 B. Rs 21,000 C. Rs 17,000 D. Rs 13,000