Calculate the subscription income for the South Social Club using the following data. Arrears 01/06/X0 £1,680, prepaid in advance 01/06/X0 £3,600, arrears 31/05/Y1, £2,880, paid in advance 31/05/Y1 £7,680, and cheques received in year £34,080

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To calculate the subscription income for the South Social Club, we start with the cheques received in the year (£34,080). We then adjust for the change in arrears and prepaid amounts. The increase in arrears (£2,880 - £1,680 = £1,200) adds to the income, as it represents amounts owed for this period that were not included in the cheques received. The increase in prepaid amounts (£7,680 - £3,600 = £4,080) is deducted from the income, as it represents payments for future periods, not the current period's income. Therefore, the subscription income is calculated as follows: £34,080 + £1,200 - £4,080 = £31,200.

Calculate the Subscription Income for the South Social Club Using