Plz solve my entry ?

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Mr.C.A

ipcc

96 Points Posted on 27 November 2011

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

Replies (4)

kamal kishor sen

STUDENT Rajasthan

1395 Points Posted on 27 November 2011

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....

satish kumar Chauhan

accountant

390 Points Posted on 27 November 2011

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)

kamal kishor sen

STUDENT Rajasthan

1395 Points Posted on 27 November 2011

Originally posted by : satish kumar

Dear kamal

1st entry should be as

Entry no.1 Subscripttttion received 21250 (including previous year 750 and 500 as in advancefor next year )

Cash a/c dr. 21250

To subscripttttion a/c 20000(400 x 50)

To Advance subscripttttion a/c 500(next year)

To accrued subscripttttion a/c 750(previous year)

i also mean that same but written as wrong