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.
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