Life membership fees received by a club is treated as

Related MCQs

• Life Membership Fees received by a club is shown in : Sol:
• The fees are collected only once at the time of admission of a member, hence Entrance Fees should be treated as 'Revenue Receipt'.
• Life membership fee received by a club is: Sol:
• A club paid subscription fees of `1,400. Out of which ` 200 is prepaid. In such case
• The fees received from life members is not a periodic subscription, hence are to be capitalized
• Entrance fees, unless otherwise stated, is treated as: Sol:
• The amount of Entrance Fees received regularly by a Not-for Profit Organisation is shown in which of the following:
• Subscriptions received in advance by a club are shown on……………..of the Balance Sheet Sol:
• Match List I (Financial Statements and Accounts) with List II (special matters associated with statements and accounts) and select the correct answer using the codes given below the lists: List I List II i) Receipts and Payments Account I. Revenue ii) Income and Expenditure Account II. Cash iii) Club subscription received in III. Liability Advance Account Codes:(i) (ii) (iii)
• Subscription received in advance by a club are shown in