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Explain accounting treatment of legacy in …

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Explain accounting treatment of legacy in case of not for profit organization

Posted by Banjara 07 3 years ago

CBSE > Class 12 > Accountancy

2 answers

Satyam Suman 3 years ago

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

Nikhil Tomar 3 years 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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