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How to treat the general donations & Specific donations?


Radha kolli

Radha kolli

CA Foundation

1K+

27-Feb-21 21:54

19

Answers (4)

Put those items in income column of income and expenditure a/c


gopika sivaperumal

gopika sivaperumal

CA Foundation

4K+

27-Feb-21 23:03

Put those items in income column of income and expenditure a/c

What about specific donations?


Radha kolli

Radha kolli

CA Foundation

1K+

28-Feb-21 08:23

Specific donation will not appear in income and expenditure a/c

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gopika sivaperumal

gopika sivaperumal

CA Foundation

4K+

28-Feb-21 09:23

General donation should go to income and expenditure a/c credit side as it is a revenue receipt. Specific donation should go to Balance sheet liability side as it is a capital receipt


siva chaitanya

siva chaitanya

CA Foundation

1K+

03-Mar-21 10:11