Practice question

Question

The following information in respect of M/s Niti Enterprises is given:
(i) Subscription received in 2017 is Rs 2,45,000 which is including Rs. 20,000 for 2016 and Rs. 15,000 for 2018.
(ii) Subscription due but not received at the end of the year 2017 is Rs. 19,000.
(iii) Subscription received in 2016 in advance for 2017 was Rs. 18,400.
Calculate the amount of subscription to be credited to Income and Expenditure account for the year 2017.