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How would a non-profit organization record …

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How would a non-profit organization record entrance fees while preparing income and expenditure account and balance sheet

Posted by Nidhi Singh 5 years, 4 months ago

CBSE > Class 12 > Accountancy

2 answers

Raman Dhillon 5 years, 3 months ago

If their is specific information that enetance fees is capital receipts or revenue Then it come in liability side of balance sheet If their is no information then it come in cr. Side of income and expenditure A/C

Saloni Jain 5 years, 4 months ago

In the balance sheet it will come in liabilities side as the club has to give services to the members in return of the amount received And in income and expenditure account it will come in the income side

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