Final answer:
Subscription received during the year Rs. 50,000. Subscription outstanding at the end of the year Rs. 8,000. Subscription outstanding at the beginning of the year Rs. 6,000. Net income from subscription will be Rs. 48,000.
Step-by-step explanation:
The net income from subscription can be calculated by considering the subscriptions received, as well as the outstanding subscriptions at the beginning and the end of the year. We start with the total subscriptions received of Rs. 50,000 and adjust for the unpaid subscriptions at the beginning and the end of the year. To find the net income, we add the opening outstanding subscriptions (Rs. 6,000) to the subscriptions received during the year (Rs. 50,000), and then subtract the closing outstanding subscriptions (Rs. 8,000).
This calculation leads to:
(Subscriptions received) + (Outstanding at the beginning) - (Outstanding at the end) = Net Income from Subscription
(Rs. 50,000) + (Rs. 6,000) - (Rs. 8,000) = Rs. 48,000
Therefore, the net income from subscriptions will be Rs. 48,000.