Accountancy, asked by Abhishekyadavjee, 7 months ago

Life membership fees received by a club is

Answers

Answered by shoaibakhtar70

Answer:

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Answered by prity73

Answer:

revenue expence

Explanation:

Life membership fee taken from the club members is a one time fee. Yearly fees is recorded as revenue expense. Life membership need to be shown in balance sheet.

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