How to treat Life subscriptions and entry fee in a non-profit making organizations

August 5th, 2011 Comments off
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Life subscription and entry fee in a non profit organization are:

  • lump sums paid by members and using the matching method they should be credited when received to Deferred Income account and credited to Income and Expenditure account in equal annual installments over such period as determined by the committee.

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Financial Accounting

 
 

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