Easy Office
LCI Learning

Corpus fund

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
24 June 2015 Dear Sir,
Please tell whether corpus donation received from any person with written direction is treated to be income of the trust or not. Also guide the accounting entry of your reply
Profile Image

Ankur Singhal

Profile Image

Ankur Singhal (Expert)
25 June 2015 Dear Corpus donation is not income of the trust.
Bank/CAsh A/c Dr.
To Corpus Fund.

Also if such donation not applied in full during the financial year the same will be shown in Balance Sheet as corpus Fund.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess


Answer Query



Quick Links