allerySubscriptions received during 2022 ₹42,000 (incl. ₹1,600 for 2021 and ₹600 for 2023); outstanding 2022 ₹3,000. Credit to I&E:
A₹42,000 cash received
B₹42,800 accrued figure
C₹45,000 with both adj
D₹39,400 net figure
Answer & Solution
Correct answer: B. ₹42,800 accrued figure
1. Cash received 2022 = ₹42,000.
2. Add outstanding for 2022 ₹3,000.
3. Less amounts for other years: 1,600 + 600 = 2,200.
4. I&E credit = 42,000 + 3,000 − 2,200 = ₹42,800.
_Source: ICAI BoS Foundation Paper 1, Ch 8 "NPO", Illustration 2_
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