Accountancy, asked by sejalb138, 10 days ago

How would a not for profit organization deals with the following iteams:
1. Outstanding subscription
3.tournament fund
4.legecy membership fees


Answered by Anonymous

1.outstanding subscription will be added to subscription.

2.donation will be put on credit side of income and expenditure account. will be put on liabilities side of closing balance sheet.

4 legacy will be added to to capital fund.

5 it will also added to capital fund.

hope you like it

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