What the balance of subscription receivable is reported as

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Problem 1: The subscription contract signed between BSA Corporation and its subscribers require 70% upon subscription and the remaining balance in 180 days. For BSA Corporation, the balance of subscription receivable is reported as

Option 1: an equity account deductible from subscribed ordinary shares.
Option 2: current asset as non-trade receivable.
Option 3: non-current asset as non-trade receivable.
Option 4: current asset as trade receivable.

Problem 2: Which of the following would normally be added to book balance when preparing book to bank reconciliation?

Option 1: Unrecorded decrease in the petty cash fund supported by deposit slip.
Option 2: Official Receipt No. 915 recorded twice in the cash receipts journal.
Option 3: Bank service charges
Option 4: Deposit in transit

Reference no: EM132822557

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