Question
In: Accounting
What is subscription? How is it calculated?
What do you mean by the term "subscription" in accountancy? How is it calculated?
Solutions
Expert Solution
For a not-for-profit organisation subscription acts as one of the main sources of income. It refers to money that the members pay periodically for maintaining their membership in active state. Subscription charges can be paid in flexible options like monthly, quarterly, half-yearly or yearly. It appears on the receipt side of R & P account.
For calculating subscription for current period, add subscription received in advance meant for current period during the previous year and outstanding subscription for current year to the subscription received for the current year and deducting subscription received in advance for next year and outstanding subscription from previous year from subscription received in the current year.
Subscription acts as one of the main sources of income.
Ajay Kumar Gupta answered 2 years agoRelated Solutions
what is subscription economy? what type of subscription economy? write as much as possible
What is a Bond? How is its price calculated?
What is a standard? What is a standard cost? How is it calculated? Why is it...
what is the economy impact of high subscription rate.
What is the payback period, how is it calculated, what weaknesses are commonly associated with the...
what is the principle axis of a system of particles? how can it be calculated?
Explain the concept of Bond Duration, what does it measure, how is it calculated, how is...
1. What is the Herfindahl-Hirshmann Index? How is it calculated? What does it measure? How do...
1. What is meant by the price elasticity of demand? How is it calculated? What does...
How are the costs of jobs calculated?
- Bash scripting return output: Determine the output this code 1. #!/bin/bash Valid = true count=1 while...
- In mid-December 2018, the manager of Beau Apparel was preparing the firm’s production plan for the...
- Cartman was just left half of his grandmother’s estate after she died. Since he isn’t really...
- whether auditor should be blamed when a company which they have expressed an unmodified audit opinion...
- Suppose that the production function is given by: ? = ?(?, ?) = ?(?)^1/3(?)^1/3 where ?...
- What is the great depression? Do you think the current coronavirus is resulting in events similar...
- Write a program that solves the Knapsack problem. Code to the following standards. Your source of...