The Lexden Football Club charges its members subscription fees. The following data relate to the year ended 31 December 2014:
|
£ |
|
|
Subscriptions owing to the club as at 1 January 2014 |
64 |
|
Subscriptions received in advance as at 1 January 2014 |
31 |
|
Subscriptions owing to the club as at 31 December 2014 |
95 |
|
Subscriptions received in advance as at 31 December 2014 |
42 |
|
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:
|
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 |