From The Following Information Of A Club Show The Amounts Of Match Expenses - Accountancy

By admin -

From the following information of a club show the amounts of match expenses and match fund in the appropriate Financial Statements of the club for the year ended on 31st March, 2019:

Particulars₹
Match expenses paid during the year ended 31st March, 20191,02,000
Match Fund as on 31st March, 201924,000
Donation for Match Fund (Received during the year ended 31st March, 2019)40,000
Proceeds from the sale of match tickets (Received during the year ended 31st March, 2019)15,000






Balance Sheet

as at 31st March, 2019


Liabilities Amount (₹)Assets Amount (₹)
Match Fund24,000  
 Add: Donation for Match Fund40,000  
Add: Proceed from Sale of Tickets15,000  
Less: Match Expenses (Note)(79,000)NIL 

Income and Expenditure Account

for the year ended 31st March, 2019
Expenditure Amount (₹)IncomeAmount (₹)
Match Expenses (Note)23,000  

Chapter-1 Financial Statements of Not for Profit Organisations-TS Grewal



Location: India

Comments

Post a Comment

Popular posts from this blog

Explain the Role of ‘Justice Party’ in Boycotting of Council Elections | bzziii.com

By admin -
answer source Question Read the source given below and answer the questions that follows: Source : The Movement in the Towns The movement started with middle-class participation in the cities. Thousands of students left government-controlled schools and colleges, headmasters and teachers resigned, and lawyers gave up their legal practices. The council elections were boycotted in most provinces except Madras, where the Justice Party, the party of the non-Brahmans, felt that entering the council was one way of gaining some power–something that usually only Brahmans had access to. The effects of non-cooperation on the economic front were more dramatic. Foreign goods were boycotted, liquor shops picketed, and foreign cloth burnt in huge bonfires. The import of foreign cloth halved between 1921 and 1922, its value dropping from Rs. 102 crore to Rs. 57 crore. In many places merchants and traders refused to trade in foreign goods or finance foreign trade. As the boycott movement spread...
Read more

Fraction becomes 9/11, If 2 is Added to Both the Numerator and Denominator. If 3 is Added to Both the Numerator and the Denominator, it Becomes 5/6. Find the Fraction. | Bzziii.com

By admin -
A fraction becomes `9/11`, if 2 is added to both the numerator and denominator. If 3 is added to both the numerator and the denominator, it becomes `5/6`. Find the fraction. SOLUTION Let Numerator be x & Denominator be y So, Fraction is = `x/y` Given that, If 2 is added to both the numerators and denominator, fraction becomes `9/11` `"Numerators + 2"/"Denominator + 2"`= `9/11` `"x+ 2"/"y + 2"`= `9/11` 11 (`x + 2`) = 9 (`y + 2`) 11`x` + 22 = 9`y` + 18 11`x` - 9`y` = 11 - 22 11`x` - 9`y` = -4 .......(1) Also, Given that if 3 is added to both the numerator and the denominator, fraction become `5/6` `"Numerators + 3"/"Denominator + 3"`= `5/6` `"x+ 3"/"y + 3"`= `5/6` 6 (`x + 3`) = 5 (`y + 3`) 6`x` + 18 = 5`y` + 15 6`x` - 5`y` = 15 - 18 6`x` - 5`y` = - 3 .......(2) Hence, our equations are 11`x` - 9`y` = -4 .......(1) 6`x` - 5`y` = - 3 .......(2) From equation (1...
Read more

NCERT solutions for Class 11 chapter 3 - Recording of Transactions

By admin -
Chapter 3 Recording of Transactions   Short Answer 01    State the three fundamental steps in the accounting process. SOLUTION 02    Why is the evidence provided by source documents important to accounting? SOLUTION 03    Should a transaction be first recorded in a journal or ledger? Why? SOLUTION 04    Are debits or credits listed first in journal entries? Are debits or credits indented? SOLUTION 05    Why are some accounting systems called double accounting systems? SOLUTION 06    Give a specimen of an account. SOLUTION 07    Why are the rules of debit and credit same for both liability and capital? SOLUTION 08    What is the purpose of posting J.F numbers that are entered in the journal at the time entries are posted to the accounts? SOLUTION 09    What entry (debit or credit) would you make to: (a) increase revenue (b)...
Read more