Subscription in advance is treated in the balance sheet of a club as

Subscription in advance refers to the money received by a club from its members in advance for future services or events that will be provided by the club. This amount is considered a liability until the club delivers the promised services or events. Therefore, the subscription in advance will be treated as a current liability in the balance sheet of a club. This is because it represents an obligation that the club owes to its members, and it is expected to be settled within the next twelve months. To summarize, subscription in advance is treated as a current liability because it represents money received by the club from its members in advance for services or events that have not yet been provided.