Accountancy, asked by naveenkumar06226, 7 months ago

Membership fee received by an institution in receipt

Answers

Answered by pinky162

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.

I hope it's help you.

Answered by williamfaith862

Answer:

capital receipt

Explanation:

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