A club received subscriptions during 20X2 totalling £6,250. This figure included £400 for 20X1 and £200 for 20X3. There were subscriptions in arrears at the end of 20X2 of £125. The subscriptions to be included in the income and expenditure account for 20X2 are:

Question

Quizplus · Accepted Answer

The subscriptions to be included in the income and expenditure account for 20X2 are calculated by starting with the total subscriptions received during 20X2 (£6,250), subtracting the amount received for 20X1 (£400) and for 20X3 (£200), and then adding the arrears from 20X2 (£125). This gives £6,250 - £400 - £200 + £125 = £5,775.

A Club Received Subscriptions During 20X2 Totalling £6,250