28 August 2010
Sir, In the case of a non-profit organisation if the balance sheet of the previous year shows an ENTRANCE DONATION RECEIVED PENDING MEMBERSHIP worth Rs.100000 under liabilities. Also, during the current year ENTRANCE DONATION worth Rs.100000 are received and 50% of the donations are to be capitalised and there are no pending memberships at the end of the current year then what is its treatment? Do respond ASAP.
CAclubindia
