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Show the treatment of the following items by 'not for profit' organisation 1- annual subscription 2- specific donation 3- sale of fixed asset
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Show the treatment of the following items by 'not for profit' organisa...
Annual Subscription- It is credited to the Income and Expenditure account. Specific Donation- It is shown on the liability side of the closing balance sheet. Sale of Fixed Asset- If the Sale amount is greater than the book value then the profit is credited to Income and Expenditure Account and if loss on sale then debit. The Asset is not shown in the balance sheet. In Case a part of an asset say furniture is sold then the value of furniture sold is deducted from the total furniture
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Show the treatment of the following items by 'not for profit' organisation 1- annual subscription 2- specific donation 3- sale of fixed asset
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Show the treatment of the following items by 'not for profit' organisation 1- annual subscription 2- specific donation 3- sale of fixed asset for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about Show the treatment of the following items by 'not for profit' organisation 1- annual subscription 2- specific donation 3- sale of fixed asset covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Show the treatment of the following items by 'not for profit' organisation 1- annual subscription 2- specific donation 3- sale of fixed asset.
Show the treatment of the following items by 'not for profit' organisation 1- annual subscription 2- specific donation 3- sale of fixed asset for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about Show the treatment of the following items by 'not for profit' organisation 1- annual subscription 2- specific donation 3- sale of fixed asset covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Show the treatment of the following items by 'not for profit' organisation 1- annual subscription 2- specific donation 3- sale of fixed asset.
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