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The accrual principle and income

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › The accrual principle and income

  • This topic has 0 replies, 1 voice, and was last updated 10 years ago by yiing.
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  • February 16, 2016 at 6:41 am #300641
    yiing
    Member
    • Topics: 5
    • Replies: 9
    • ☆

    Can anyone help me with this question:
    A social club has failed to keep a proper set of accounting records. For the year ended 30 April 20×8 you discover the following information concerning subscription income.

    Due for the year ended 30 April 20×8-5500
    In advance at 1May 20×7-260
    In arrears at 1 May 20×7-1620
    In advance at 30 April 20×8-240
    In arrears at 30 aril 20×8-nil
    How much cash was received during the year in respect of subscriptions ?
    May I know what is it meant by” due for the year ended 30 April 20×8″, is it accrued income ?

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