A sport club provided the following information Subscription paid in 400 advance at the start of the year . Total subscription 3,600 received during the year Subscription paid in 500 advance at the end the year. Which amount would appear as subscription in the income and expenditure account?

A sport club provided the following information Subscription paid in 400 advance at the start of the year . Total subscription 3,600 received during the year Subscription paid in 500 advance at the end the year. Which amount would appear as subscription in the income and expenditure account?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Income Statement

Income Statement also commonly called a profit and loss statement, one of the key financial statements (considered together with balance sheet and cash flow statement) which shows the revenues and expenses, as well as the gains and losses of a company for a given period. In other words, it presents the financial performance/profitability of a business over a specified accounting period.

Question

A sport club provided the following information

Subscription paid in 400

advance at the start of the

year .

Total subscription 3,600

received during the year

Subscription paid in 500

advance at the end the year.

Which amount would appear as subscription in the income and expenditure account?

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