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Periodical Subscription

Some Peculiar Items. Subscriptions. Periodical Subscription. Life Membership Subscription. Treated as revenue receipts. Some Peculiar Items. Subscriptions. Periodical Subscription. Life Membership Subscription.

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Periodical Subscription

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  1. Some Peculiar Items Subscriptions Periodical Subscription Life Membership Subscription Treated as revenue receipts

  2. Some Peculiar Items Subscriptions Periodical Subscription Life Membership Subscription Treated as capital receipt and transferred to Life Membership Fund A/c. It will be shown in the Balance sheet till the membership ceases. Treated as deferred revenue receipt and transferred to Life Membership Fund A/c. Normal annual subscription will be treated as revenue receipt and transferred out of Life Membership Fund A/c to Income & Expenditure Account. It will be shown in the Balance sheet till the membership ceases.

  3. Some Peculiar Items Donations and Legacies General Donation and Legacies Specific Donation and Legacies Treated as revenue receipts and thus, are transferred to credit of Income and Expenditure Account.

  4. Some Peculiar Items Donations and Legacies General Donation and Legacies Specific Donation and Legacies Treated as capital receipt and transferred to Special Fund A/c. any income related to such fund is transferred respective fund. Any revenue related to special fund is deducted from respective fund. Expenditure of capital nature should be shown on the asset side of the Balance Sheet and an equal amount will be transferred from Special Fund to Capital Fund.

  5. Some Peculiar Items Aid from govt. General Aid Special Aid Treated as revenue receipts and be transferred to the credit of Income and Expenditure Account.

  6. Some Peculiar Items Aid from govt. General Aid Special Aid Treated as capital receipts and be added to the Capital Fund on the liability side of the Balance Sheet.

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