Question 3:
PRACTICAL PROBLEMS
(Presentation of Subscriptions only)
With the information given below regarding ‘Subscription’ give accounting effects of it in the Final Accounts of a ‘Not for Profit’ concern.
Receipts and Payments 
Account for the year ending on 31-03-2013
Additional Information:
Subscription received during the year, includes
Subscriptions received for 2011-2012 Rs 17,500 and for 2013-2014 Rs 15,000
There are 500 members of the concern and each member pays Rs 1,000 as annual subscription.
During the year 2011-2012 subscription received for the year 2012-2013 was Rs 25,000.
Account for the year ending on 31-03-2013