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Accounts of Non-Trading Organisations

Accounts of Non-Trading Organisations. Receipts and Payments. RECEIPTS Revenue vs. Capital. Revenue Receipts Income collected by the club to carry out the daily activities. Capital Receipts Income collected for the specific purpose improving a fixed asset or the sale of a fixed asset.

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Accounts of Non-Trading Organisations

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  1. Accounts of Non-Trading Organisations Receipts and Payments

  2. RECEIPTSRevenue vs. Capital • Revenue Receipts • Income collected by the club to carry out the daily activities. • Capital Receipts • Income collected for the specific purpose improving a fixed asset or the sale of a fixed asset

  3. Egs. of Revenue vs. Capital Receipts • Revenue Receipts • Subscriptions • Entrance fees • Rental received • Profit from sales of refreshments • Donations • Walkathon • Commission received • Capital Receipts • Building of extension to the club house • Construction of swimming pool • Sale of fixed assets

  4. EXPENDITURERevenue vs. Capital • Revenue Expenditure • Money spent in running the daily activities of the club. • Capital Expenditure • Money spent by a club to buy or add value to a fixed asset.

  5. Egs. of Revenue vs. Capital Expenditure • Revenue Expenditure • Purchases of goods for resale • Rental of club house • Wages • Insurance, rates, sundry expenses • Maintenance and repairs • Depreciation of fixed assets • Petrol costs for van • Capital Expenditure • Purchase of fixed assets • Painting outside a new building • Putting extra headlights on motor van • Construction or extension of club house

  6. Nothing different!!

  7. SUBSCRIPTIONS • Revenue Receipts • Subscriptions in Arrears (Dr. Balance) • Subscriptions in Advance (Cr. Balance)

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