38 Illustration 17 From the following extracts of Receipts and Payment A/c and additional information you...

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38 Illustration 17 From the following extracts of Receipts and Payment A/c and additional information you are required to calculate the income from subscription for the year ending December 31, 2017 and show it in the Income and Expenditure Account and the Balance sheet. Receipts & Payments Account for the year ended 31-12-2017 Payment Receipts Subscription 2016 2017 2018 Additional Information 6,000 35,000 4,000 45,000 (b) (a) Subscription outstanding on 31-12-2016 Subscription outstanding on 31-12-2017 Subscription received in advance 31-12-2016 (c) 7,000 6,000 3,500 38 Illustration 17 From the following extracts of Receipts and Payment A/c and additional information you are required to calculate the income from subscription for the year ending December 31, 2017 and show it in the Income and Expenditure Account and the Balance sheet. Receipts & Payments Account for the year ended 31-12-2017 Payment Receipts Subscription 2016 2017 2018 Additional Information 6,000 35,000 4,000 45,000 (b) (a) Subscription outstanding on 31-12-2016 Subscription outstanding on 31-12-2017 Subscription received in advance 31-12-2016 (c) 7,000 6,000 3,500