The Lexden Football Club charges its members subscription fees. The following data relate to the year ended 31 December 2014:
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the lexden football club charges its members subscription fees the following data re 611274
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Subscriptions owing to the club as at 1 January 2014 |
64 |
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Subscriptions received in advance as at 1 January 2014 |
31 |
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Subscriptions owing to the club as at 31 December 2014 |
95 |
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Subscriptions received in advance as at 31 December 2014 |
42 |
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Money received during 2014 in respect of subscriptions |
397 |
The amount that would be credited to the income and expenditure account as income for the year ended 31 December 2014 can be calculated by constructing a ledger account for subscriptions. This would appear as follows:
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Subscriptions |
|||||
|
2014 |
£ |
2014 |
£ |
||
|
1 Jan |
Balance b/d |
64 |
1 Jan |
Balance b/d |
31 |
|
31 Dec |
Income & |
417 |
31 Dec |
Money received |
397 |
|
Expenditure |
|||||
|
31 Dec |
Balance c/d |
42 |
31 Dec |
Balance c/d |
95 |
|
523 |
523 |
||||
|
2015 |
2015 |
||||
|
1 Jan |
Balance b/d |
95 |
1 Jan |
Balance b/d |
42 |
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