Accounting for Higher Educational Institution
This query is : Resolved
06 September 2022
What will be the journal entries of the following transactions of a college?
1. Capital Expenditure incurred from earmarked/designated fund.
2. Revenue expenditure incurred from earmarked/designated fund.
1. Capital Expenditure incurred from earmarked/designated fund.
2. Revenue expenditure incurred from earmarked/designated fund.
06 September 2022
1 Debit the capital asset and credit bank account.
2 Debit concerned revenue expenditure and credit bank account.
Classify the earmarked fund as general fund.
2 Debit concerned revenue expenditure and credit bank account.
Classify the earmarked fund as general fund.
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