Question

1m
Subscription received in advance in current year will be transferred to:
(a) Receipt and Payment A/c only
(b) Receipt & Payment A/c and Balance Sheet
c) Only income and Expenditure A/c. d) Only Balance Sheet​

Answer 1

Dear the answer is

advance subscription amount will be deducted from Total sum of current year subscription from credit side of income and expenditure /ac and that amount will also show on liabilities side of current year balance sheet.

But that option is not in your mcq