The following information about Mazdoor sports club is given to you:                                                                                                             OMR Subscription received during 2020                                                     8,400 Outstanding subscription as on 1.1.2020                                            1,670 Subscription received in advance on 1.1.2020                                      790 Outstanding subscription as on 31.12.2020                                           630 Subscription received in advance as on 31.12.2020                              590 Salary paid during the year 2020                                                        4,500 Salary unpaid on 1.1.2020                                                                      750  Salary paid in advance on 31.12.2020                                                    875 Salary unpaid on 31.12.2020                                                                  660 Salary paid in advance on 1.1.2020                                                        470 Based on the given case, answer the following three questions The amount of salary paid in advance on 31.12.2020 is: a. Added to capital fund in the balance sheet b. Shown as current asset in balance sheet c. Shown as current liability in the balance sheet d. Not shown in the balance sheet The salary to be debited to Income and expenditure account is: a. RO 5005 b. RO 4995 c. RO 4005 d. RO 5995 The Subscription credited to Income and expenditure account is: a. RO 8560 b. RO 7560 c. RO 9240 d. RO 7240

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.