Subscriptions received in advance are
...Subscriptions received in advance are
Included in the income and expenditure account
Not included in the receipts and payment account
Shown as a current asset in the balance sheet
Shown in the Balance Sheet as a current liability
Correct answer is D
An amount received in advance against which the services are yet to provide is a balance sheet item. Any advance subscription is a liability and to be shown in balance sheet
Which of the following is not an item in the profit and loss account? ...
Discount received is charge to ...
The major sources of revenue for the state and local governments is ...
What is the balance carried down? ...
When shares are issued at a discount, entries are to debit ...
Show how the following transaction will be recorded applying the double-entry principle: Rent ₦50...