How will you deal with sale of lawets while preparing the financial
statements of a not-for-moll organisation?
How would approfit organisation record the following items while
muning Inaume & Enilure Accuumi and Llalance Shual:
while Membershiplues
uw) Clencrul Hunaton
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In case of sale of fixed assets by a non profit organisation the gain or loss if any will be recorded in the income and expenditure account, the cash proceeds will be recorded in receipts and payments account and the cost of the amount is deducted from the respective asset in the balance sheet.
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