The correct answer is: A. Subscriptions received for the next year
A balance sheet is a financial statement that reports a company’s assets, liabilities, and equity at a specific point in time. It is a snapshot of the company’s financial position.
Assets are things that a company owns and that have value. Liabilities are things that a company owes. Equity is the difference between assets and liabilities.
Subscriptions received for the next year are not assets because they do not belong to the company yet. They are only a promise of future payment.
Subscriptions received for the current year are assets because they belong to the company. They are money that the company has already received.
Subscriptions not received for the current year are liabilities because the company owes them to its customers.
Outstanding salary is a liability because the company owes it to its employees.
Therefore, the only item that will not appear in the balance sheet of a club is subscriptions received for the next year.