The amount of Entrance Fees received regularly by a Not-for Profit Organisation is shown in which of the following:

Related MCQs

• The fees are collected only once at the time of admission of a member, hence Entrance Fees should be treated as 'Revenue Receipt'.
• The amount of ‘Subscription received from members’ by a Not-for Profit Organisation is shown in which of the following:
• Life Membership Fees received by a club is shown in : Sol:
• Entrance fees, unless otherwise stated, is treated as: Sol:
• Entrance fees are generally
• A B C are three partners sharing profit and loss in the ration of 2:2:1, B recently obtained MBA degree from Oxford University, accordingly the partner decided to give him a guaranteed profit of ` 60,000. Find the share of profit of B if the firm made a net profit of ` 1,25,000 during 2012-13
• From the following information provided, the income from subscription to be shown in the Income and Expenditure A/C for the year ending 31/12/2015 can be calculated at Rs. ______ (i) Subscription received during 2015 : for 2014 – Rs.5,000 for 2015 – Rs.30,000 for 2016 – Rs.6,000 (ii) Subscription received in advance as at 31/12/2014 – Rs.6,000 (iii) Subscription outstanding as at 31/12/2014 – Rs.6,000 (iv) Subscription outstanding as at 31/12/2015 – Rs.4,000
• Life membership fees received by a club is treated as
• The fees received from life members is not a periodic subscription, hence are to be capitalized
• On 31st March, goods sold at a sale price of ` 30,000 were lying with customer, Mohan to whom these goods were sold on 'sale or return basis' and recorded as actual sales. Since' no consent was received from Mohan, the adjustment entry was made presuming goods were sent on approval at a profit of cost plus 20%. In the balance sheet, the stock with customers account will be shown at `