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What is life membership fees

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What is life membership fees

    • Posted by Sunil Sinha 5 years, 3 months ago

    CBSE > Class 12 > Accountancy
    • 2 answers

    Yogita Ingle 5 years, 3 months ago

    Life Membership Fees is a capital receipt and we add it to the Capital Fund on the liabilities side of the Balance Sheet. We do not account it as an income because a life member makes onetime payment and avails services all through his life.

    0Thank You

    Geeta Sorout 5 years, 3 months ago

    It is a capital receipt and we add it to capital fund on the liability side of the balance sheet

    0Thank You

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