Question

14.How are following items dealt while preparing the final accounts of Youth Club for the year ending 31st March, 2020:Expenditure on construction of Hostel Rs.6, 00,000. The construction work is in progress and has not yet completed.Particulars Rsa)Opening Hostel Fund 8,00,000b)Opening 10% Hostel Fund Investments 8,00,000c)Donation for Hostel Fund Received 10,00,000d)Interest Received on Hostel Fund Investments 80,000e)Opening Capital Fund 18,00,000d)Subscription for Governor’s Party Received 40,000g)Outstanding Subscription for Governor’s Party 10,000​

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