Question

8. From the following information of a club, show the amounts of Prize awarded and Prize Fund in the
Financial Statements of the club for the year ended on 31st March, 2009 and 31st March, 2010:
{CBSE, All India 2011}
Ca
Amt. (*)
12
Particulars
20,000
(i) Prize Fund as on 01.04.2009
40,000
(ii) Prize Fund donations received during the year 2009-2010
69,000
(iii) Prizes awarded during the year 2009-2010
{Prize Fund of 20,000 will be shown on the liabilities side of Balance Sheet as at 31.03.2009;
Prize Fund of 9,000 to be shown as an expense in the Income and Expenditure A/c
for the year ended 31.03.2010)​

Answer 1

Answer:

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Explanation:

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