Ascertain the effect of the following information in the final Account of Not-For-Profit Organisation Match Fund is ₹ 10,000 and Match Expenses are ₹ 13,000 .
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In case of a Club tournament fund will be shown in the liabilities side of the Balance Sheet.
The Accounting treatment for the above mentioned items will be there in the liabilities side of the balance sheet as follows
Balance Sheet
as on
Liabilities Amt.(Rs.)
Assests Amt.(Rs.)
Tournament Fund 40,000
(+)Receipts from turnament 16,000
(-)Tournament Expenses 14,000 42,000
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