Revenue Recoginition
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2010
I have a query pl. read it carefully:
A institute is providing some kind of Training & vocational services to students and charging fee from them as follows:
At the time of Registration they are charging: 1000/-Rs. per student (suppose it happens on 25th of april)
At the time of admission: 10000/- Rs. per student (suppose it happens on 15th of May)
On first class: 15000/-Rs. per student (Received on 1st June)(from here the student will get start services)
Then Rs. 10000/- on 5th of every month (in 10 installments)
What would be the accounting entries for each of above mentioned?
Income for APril & May month???
Deffered training fees amount???
Training & Development fees??
Thanks in advance!
A institute is providing some kind of Training & vocational services to students and charging fee from them as follows:
At the time of Registration they are charging: 1000/-Rs. per student (suppose it happens on 25th of april)
At the time of admission: 10000/- Rs. per student (suppose it happens on 15th of May)
On first class: 15000/-Rs. per student (Received on 1st June)(from here the student will get start services)
Then Rs. 10000/- on 5th of every month (in 10 installments)
What would be the accounting entries for each of above mentioned?
Income for APril & May month???
Deffered training fees amount???
Training & Development fees??
Thanks in advance!
01 July 2010
All income seem to be revenue receipts, There does not seem to be any advance receipt. fees are charged montly.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- LTCG for Assmt year 26-27
- Tax liability on income of freelancer
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
