Life Membership fees of Rs.25,000 is Option 1: recorded on income side of Income and Expenditure A/c Option 2: Shown on assets side of Balance sheet Option 3: Shown on expenditure side of Income and Expenditure account Option 4: added to capital fund

The answer is 'added to capital fund'. View full solution:

CUET Accountancy - Life Membership fees of Rs.25,000 is | PYQs + Solutions

CUET Accountancy 2022 16 July Shift 2

Financial Statements

Medium

recorded on income side of Income and Expenditure A/c

Shown on assets side of Balance sheet

Shown on expenditure side of Income and Expenditure account

added to capital fund

✅ Correct Option: 4

Related questions:

15 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Reserves and Surplus	(I) Share Options Outstanding Account
(B) Non-current Liabilities	(II) Long term provisions
(C) Current Liabilities	(III) Short-term borrowing
(D) Shareholder's Fund	(IV) Calls in arrear

Choose the correct answer from the options given below:

20 June Shift 2

Which of the following items are part of Intangible non current Assets:

A. Patents

B. Furniture

C. Statement of Profit & Loss A/c (Dr)

D. Goodwill

E. Trademark

Choose the correct answer from the options given below:

30 May Shift 1

Which among the following is NOT the feature of the Presentation of the Financial Statement?