Explain accounting treatment of legacy in …

Explain accounting treatment of legacy in case of not for profit organization
  • 2 answers

Satyam Suman 2 weeks, 2 days ago

It is income so it is shown in income side of income and expenditure account

Nikhil Tomar 2 weeks, 3 days ago

Income side if general legacy is given and . if specific legacy is given then we take it on liability side of bal. Sheet👌

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