How Are The Following Dealt With In The Accounts Of A Not-For-Profit Organisation ? - BZZII

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 How are the following dealt with in the accounts of a Not-for-Profit Organisation ?

Case I Dr. (₹)   Cr.(₹)Case II Dr. (₹) Cr. (₹)
Prize Fund
Prizes Paid
Match Expenses
 		 12,000
 15,000		  50,000Match Fund
Match Expenses
Investments of Match Fund
Interest  on Match Fund
Investments
Prizes Paid
 35,000
 60,000




​ 19,000		 1,00,000





  3,000 




Cash I

Balance Sheet

Liabilities Amount (Rs.)Assets Amount (Rs)
Prize Fund50,000  
Less: Prize Paid(12,000)38,000 

Cash II
                                              balance Sheet
Liabilities Amount (Rs.)Assets Amount (Rs.)
Match Fund1,00,000 Match Fund Investments60,000
Less: Match Expenses(35,000)  
Add: Interest on Match Fund Investments  3,00068,000  

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



Location: India

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