How Are The Following Items Shown In The Accounts of A Not-For-Profit Organisation ? - Accountancy

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How are the following items shown in the accounts of a Not-for-Profit Organisation ?

 Rs.
Tournament Fund50,000
Tournament Expenses15,000
Receipts from Tournament20,000



Balance Sheet

Liabilities Amount (Rs.)Assets Amount (Rs.)
Tournament Found50,000  
Add: Tournament Receipts20,000  
Less: Tournament Expenses(15,000)55,000 

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



Location: India

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