Question

14. 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, 2020:
₹
Particulars
1,02,000
Match expenses paid during the year ended 31st March, 2020
24,000
Match Fund as on 31st March, 2019
Donation for Match Fund (Received during the year ended 31st March, 2020)
40,000
Proceeds from the sale of match tickets (Received during the year ended 31st March, 2020)
15,000
final accounts for the year ended​

Answer 1

Answer:

net loss 87000

Explanation:

match exp of rs 1,02,000 is a revenue expenditure and thus recorded in profit and loss.

donation received to form part of corpus or capital

sale of tickets to form part of profit and loss