CBSE BOARD XII, asked by akakakak501, 1 year ago

Accountancy
How to treat tournament expenses when there is a tournament fund
With journal entey

Answers

Answered by manjary3

tournament find a/ c dr
tournament expense
it will be shown in balance sheet liabilities side as tournament fund - tournament expense to the extent of tournament fund.
if tournament exp is greater than respective fund then balance expense will show. in income and expenditure account

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