In order to arrive at subscription income for a year, which of the following should be added to the amount of subscription received during that year.

Subscription in arrear in the beginning of the year.

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Subscriptions in arrear at the end of the year.

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Subscription received in advance for the following year.

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Subscriptions received pertaining to the previous year.

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Solution

The correct option is B Subscriptions in arrear at the end of the year.
To arrive at the subscription income at the end of the year, Subscriptions outstanding at the end of the year should be added to the subscriptions received during the year. This means that the outstanding subscriptions is also the income of the current year and it should be accounted.

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