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How is Entrance Fees dealt with while preparing the final accounts for the year ended 31st March, 2018 in each of the following alternative cases?Case I During the year ended 31st March, 2018, Entrance Fees received was ₹ 1,00,000.Case II During the year ended 31st March, 2018, Entrance Fees received was ₹ 1,00,000.Out of this , ₹ 25,000 was received from individuals whose membership is not yet approved.

Answer» How is Entrance Fees dealt with while preparing the final accounts for the year ended 31st March, 2018 in each of the following alternative cases?



Case I During the year ended 31st March, 2018, Entrance Fees received was ₹ 1,00,000.



Case II During the year ended 31st March, 2018, Entrance Fees received was ₹ 1,00,000.Out of this , ₹ 25,000 was received from individuals whose membership is not yet approved.


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