A not for profit organisation maintains its accounts on fund based accounting system. From thr following information, calculate the amount to be shown under the heading " prize fund " in the balance sheet. Prize fund ₹ 1,00,000 Interest received on prize investment ₹ 10,000 Prize awarded 25,000
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Answer:
Show Prize Fund in the B/S Rs.85,000
Explanation:
For more details please see the Ultimate Book of Accountancy Class 12th CBSE.
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