Please solve my entries " whenever i get error in adj entries " i miss you guys " thanks for everything :D
1) subscripttions (including for 2006 rs.750) tot.21250
2) Interest on securities 1,000
adjustment entries :
1) There are 400 members who pay subscripttions at the rate of rs.50 per member.
2)The associtation holds 3 percent Government securites amounting to Rs.40,000
Entry no.1 Subscripttion received 21250 (including previous year 750)
Cash a/c dr. 21250
To subscripttion a/c 20000(400 x 50)
To Advance subscripttion a/c 500(currnt year)
To accrued subscripttion a/c 750(previous year)
Entry no.2 Interest on securites received 1000
Cash a/c Dr. 1000
Accrued int. on sect. a/c Dr. 200
To interest on securities a/c 1200
Plz. clarify if i m wrong....
Dear kamal
1st entry should be as
Entry no.1 Subscriptttion received 21250 (including previous year 750 and 500 as in advancefor next year )
Cash a/c dr. 21250
To subscriptttion a/c 20000(400 x 50)
To Advance subscriptttion a/c 500(next year)
To accrued subscriptttion a/c 750(previous year)
| Originally posted by : satish kumar | ||
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i also mean that same but written as wrong
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woo! thanks i am done ......:D thanks
CAclubindia
