Question

1)
Show how will be the following items dealt while preparing final accounts of Queen's
Club for the year ending 31st March, 2019:
Expenditure on construction of Building 73,60,000. The construction work is in progress
and has not yet completed.
Opening Capital Fund
10,80,000
Opening Building Fund
*4,80,000
Donation received for Building
* 6,00,000
Opening 10% Building Fund Investments
*4,80,000
Interest received on Building Fund Investments : *48,000
:
:
.​

Answer 1

Answer:

Balance Sheet of Queen's Club as at 31st March 2019

Liabilities                                  Amount

Capital Fund                         Rs 1080000

Building Fund-Rs 480000              

Add:        

Donations received for Building-Rs 600000

Add:

Interest on Building Fund Investments-Rs 48000

Less:

Expenditure on construction transferred to

Capital Fund-Rs 360000        Rs 768000

Assets                                        Amount

10% Building Fund

Investments                             Rs.480000

A balance sheet is a financial statement that shows a company's assets, liabilities, and shareholder equity at a given point in time. Balance sheets serve as the foundation for calculating investor rates of return and assessing a company's capital structure.

In a nutshell, a balance sheet is a financial statement that shows what a company owns and owes, as well as the amount of money invested by shareholders. Balance sheets can be used in conjunction with other important financial statements to perform fundamental analysis or calculate financial ratios.

For similar questions refer-https://brainly.in/question/17203096

#SPJ1