Chapter 1 Financial Statements of Not for Profit Organisations 1.57
und Based Accounting
How are the following items shown in the accounts of a Not for Profit Organisation!
Tournament Fund
Tournament Expense 15000, tournament fund50000
Receipts from Tournament
20000
(Ans.: Balance of Tournament Fund on the Liabilities side of Balance Sheet-*55,000
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Answer:
To Subscriptions
To Interest on Investment
To Sale of Old Furniture
12,000 By Rent and Rates
2,500 By Printing & Stationery
75 By Postage
By Advertising
By Purchase of Furniture
By Investments
By Balance (31-3-2018)
29,275
1,200
300
100
250
750
5,000
8,575To Subscriptions
To Interest on Investment
To Sale of Old
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