Question

Chapter 1. Financial Statements of Not-for-Profit Organisations 1.17
Illustration 6.
How will be the following items dealt while preparing Balance Sheet of Chennai Club as at
31st March, 2020?
₹
(i) Building Fund
Donation Received for the Building
Expenditure on Building Construction (WIP)
(ii) Tournament Fund as on 1st April, 2019
Donation Received for Tournament
Tournament Expenses
Proceeds from Sale of Tournament Tickets
(iii) Life Membership Fees received during the year
(iv) Subscription received for Annual Dinner
Outstanding Subscription for Annual Dinner
(v) Capital Fund as on 1st April, 2019
10,00,000
25,00,000
22,50,000
15,000
25,000
42,000
35,000
60,000
10,000
25,00,000
​

Answer 1

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