A non-profit organization received Rs.10,000 as the entrance fee of a new member. If 20% of the fee has to be capitalised, what is the amount of fee needs to be shown in the income and expenditure account?
A. Rs.9000
B. Rs.8000
C. Rs.2000
D. Rs.5000
Answer:B
A non-profit organization received Rs.10,000 as the entrance fee of a new member. If 20% of the fee has to be capitalised, what is the amount of fee needs to be shown in the income and expenditure account?
A. Rs.9000 B. Rs.8000 C. Rs.2000 D. Rs.5000