Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 22 - No. 22)
Which of the following items increases the subscriptions received in advance?
Subscriptions paid in cash during the year
Subscriptions marked in advance at the start of the year
Subscriptions marked in advance at the end of the year
Outstanding subscriptions at the end of the year
Explanation
The subscriptions at the end of the year, in advance, are added to the amount of subscriptions received in the income and expenditure account.
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