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The M Club discloses the following note to its Income and Expenditure Account: 'Subscriptions in arrears are accounted for when received; subscriptions in advance are accounted for on a matching basis.' At 31 March 20X1, there were subscriptions owing of $1,000 and subscriptions in advance of $500. During the year ended 31 March 20X2, subscriptions of $10,000 were received, including subscriptions relating to the previous year of $800 and subscriptions in advance of $600. What amount should be included for subscriptions in the year ended 31 March 20X2? A $8,100 B $8,900 C $9,100 D $9,900

The M Club discloses the following note to its Income and Expenditure Account: 'Subscriptions in arrears are accounted for when received; subscriptions in advance are accounted for on a matching basis.' At 31 March 20X1, there were subscriptions owing of $1,000 and subscriptions in advance of $500. During the year ended 31 March 20X2, subscriptions of $10,000 were received, including subscriptions relating to the previous year of $800 and subscriptions in advance of $600. What amount should be included for subscriptions in the year ended 31 March 20X2? A $8,100 B $8,900 C $9,100 D $9,900

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 10RE: On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to...
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The M Club discloses the following note to its Income and Expenditure Account:

'Subscriptions in arrears are accounted for when received; subscriptions in advance are accounted for on a

matching basis.'

At 31 March 20X1, there were subscriptions owing of $1,000 and subscriptions in advance of $500. During

the year ended 31 March 20X2, subscriptions of $10,000 were received, including subscriptions relating to

the previous year of $800 and subscriptions in advance of $600.

What amount should be included for subscriptions in the year ended 31 March 20X2?

A $8,100

B $8,900

C $9,100

D $9,900

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