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What is treatment of legacies in …

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What is treatment of legacies in npo

    • Posted by Mohit Duddalwar 6 years, 9 months ago

    CBSE > Class 12 > Accountancy
    • 4 answers

    Prateek Seth 6 years, 9 months ago

    Dishti dora... Legacy is not what you defined... Legacy is the amount received as donation by a NPO under will of a deceased person

    0Thank You

    Manish Agarwall 6 years, 9 months ago

    Legacies are shown on liability side of balance sheet or it can also be shown as income in income and expenditure ac

    0Thank You

    Dishti Dora 6 years, 9 months ago

    Not asset side. Liability side. Legacy is when a person has paid his her subscription for through out the year/life time This is a liability.

    0Thank You

    Prateek Seth 6 years, 9 months ago

    Asset side

    0Thank You

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