Question

Entrance fees is Rs.30000 . 30% is to be capitalised . Calculate the amount to be shown on Income & expenditure a/c ​

Answer 1

Answer:

entrance = 30,000

30% of the amount = 30,000×30/100= 9,000 is transferred to capital fund

the amount to be transferred = 30,000-9,000 = 21,000 to income and expenditure account credit side