The subscriptions receivable account of a club commenced the year with subscriptions in arrears of £250 and subscriptions in advance of £375. During the year, £62,250 was received in subscriptions, including all of the arrears and £600 for next year’s subscriptions. The amount to be taken to the income and expenditure account for the year is ?
The subscriptions receivable account of a club commenced the year with subscriptions in arrears of £250 and subscriptions in advance of £375. During the year, £62,250 was received in subscriptions, including all of the arrears and £600 for next year’s subscriptions. The amount to be taken to the income and expenditure account for the year is ?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The subscriptions receivable account of a club commenced the year with subscriptions
in arrears of £250 and subscriptions in advance of £375. During the year,
£62,250 was received in subscriptions, including all of the arrears and £600 for next
year’s subscriptions. The amount to be taken to the income and expenditure account
for the year is ?
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