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