Show how are the following items dealt with while preparing the final accounts for the year ended 31st March, 2019 of a Not-for-profit Organisation:
Expenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Capital Fund as at 31st March, 2018 is ₹ 20,00,000.
Case II
Expenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March, 2018 is ₹ 10,00,000 and Capital Fund as at 31st March, 2018 is ₹ 20,00,000.
Case III
Expenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March, 2018 is ₹ 10,00,000, and Capital Fund as at 31st March, 2018 is ₹ 20,00,000. Donation Received for Pavilion on 1st January, 2019 is ₹ 5,00,000.
Case 1
Balance Sheet
as on March 31, 2019
| Liabilities | Amount (₹) | Assets | Amount (₹) |
| Capital Fund | 20,00,000 | Pavilion Work-in-Progress | 6,00,000 |
Case 2
Balance Sheet
as on March 31, 2019
| Liabilities | Amount (₹) | Assets | Amount (₹) | |
| Pavilion Fund | 10,00,000 | Pavilion Work-in-Progress | 6,00,000 | |
| Less: Expenditure on Construction of Pavilion | (6,00,000) | 4,00,000 | ||
| Capital Fund | 20,00,000 | |||
| Add: Pavilion Work-in-Progress | 6,00,000 | 26,00,000 |
Case 3
Balance Sheet
as on March 31, 2019
| Liabilities | Amount (₹) | Assets | Amount (₹) | |
| Pavilion Fund | 10,00,000 | |||
| Add: Donation | 5,00,000 | Pavilion Work-in-Progress | 6,00,000 | |
| Less: Expenditure on Construction of Pavilion | (6,00,000) | 9,00,000 | ||
| Capital Fund | 20,00,000 | |||
| Add: Pavilion Work-in-Progress | 6,00,000 | 26,00,000 |