Question
Accountancy Question on Receipts & Payment Account
As per Receipts and Payments Account for the year ended on March 31, 2020, subscriptions received were ₹ 2,50,000 subscriptions outstanding on 1-04-2019 ₹ 50,000, Subscriptions received in advance as on 31-3-2020 are ₹ 30.000. Subscriptions for the year 2019-20 will be:
A
₹ 2,30,000
B
₹ 1,50,000
C
₹ 2,40,000
D
₹ 1,70,000
Answer
₹ 1,70,000
Explanation
Solution
The correct option is (D): ₹ 1,70,000