How life membership fee and entrance fee are recognized in the books of accounts? (a) At the

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How life membership fee and entrance fee are recognized in the books of accounts?

(a) At the present value of the fee so received.

(b) These are to be shown as revenue in the year in which these are received.

(c) These are to be capitalized by adding to capital fund or capital reserve.

(d) These are to be apportioned over ten years’ period.

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Financial Accounting

ISBN: 9780071078023

1st Edition

Authors: Dhanesh K. Khatri

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Question Posted: Dec 15, 2023 11:39 PM

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How life membership fee and entrance fee are recognized in the books of accounts? (a) At the

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Financial Accounting

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