why is Locker rent credited in income and expenditure a/c???

Hi Yogita

Not-for-Profit Organisations like sports club, old age home, etc. provide locker facility to their members to safe keep their clothing and other valuable stuff. For providing such a facility, they charge a sum of money which is known as locker rent.
Thus, it is a revenue income for the NPO and hence appears on the credit side of Income & Expenditure Account.

  • 5
What are you looking for?