Question

a non profit organization received 10000 as a entrance fee of a new member . if 20%of the fee has to be capitalized ,what is the amount is needed to be shown in income and expenditures account​

Answer 1

Answer:

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ENTRANCE FEES RECEIVED = 10000

FEES TO CAPITALIZED = 20 %

IT MEANS THAT REST OF 80% WILL SHOWN IN INCOME AND EXPENDITURE ACCOUNTS

20% OF 10000= 8000

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