in this question To income from subscription A/C is written before to advance a/c but I have written it reversed. is it correct or I should follow icai study material if followed, why is the income fr

Question

CA · Answer

Subscription received in advance for 2023 being liability and is a closing entry. Subscription A/C Dr. To subscription received in advance will be journal entry for same Follow as per ICAI material as same is logical

Hetvi · Answer

Bcz closing entries last me hi aati hai account me

Hetvi · Answer

Follow study material

in this question To income from subscription A/C is written before to advance a/c but I have written it reversed. is it correct or I should follow icai study material if followed, why is the income fr

3 answers

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