SELECT * FROM question_mgmt as q WHERE id=1395 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=3 AND subId=11 AND chapterId=134 and ex_no='3' AND status=1 ORDER BY CAST(question_no AS UNSIGNED) CBSE Free NCERT Solution of 12th accountancy Accounting for Not-for-Profit Organisation what is subscription how is it calculated

Question:

What is subscription? How is it calculated?

Answer:

Subscription is a membership fee paid by the member on annual basis. This is the main source of income of such organisations.

For example, a club received Rs. 20,000 as subscriptions during the year 2016-17 of which Rs.3,000 relate to year 2015-16 and Rs.2,000 to 2017-18, and at the end of the year 2016-17 Rs.6,000 are still receivable.

In this case, the Receipt and Payment Account will show Rs.20,000 as receipt from subscriptions. But the Income and Expenditure Account will show Rs. 21,000 as income from subscriptions for the year 2016-17, the calculation of which is given as below:

Subscriptions received in 2016-17                                  20,000
Less: Subscriptions for the year 2015-16                         3,000
                                                                                        17,000
Less: Subscription for the year 2017-18                           2,000
                                                                                        15,000
Add: Subscriptions outstanding for the year 2016-17       6,000
Income from subscriptions for the year 2016-17             21,000


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