Question

From the following information, calculate capital fund of a club as on 1st April 2016:
1. Subscription outstanding on 1-4-1673,000.
2 Opening balance of assets are: Stock of stationary 5,000, Furniture * 50,000, Buildings *2,00,000, Rent
paid during the year 2016-17* 6,000, it includes 1,000 related to previous year. Opening cash balance
10,000.​

Answer 1

Question :

From the following information, Calculate capital fund of a club as on 1st April 2016:

Subscription outstanding on 1-4-16 - 73,000.

Opening balance of assets are:

Stock of stationary - 5,000

Furniture - 50,000

Buildings - 2,00,000,

Rent Paid during the year 2016-17 - 6,000 ( it includes 1,000 related to previous year )

Opening cash balance - 10,000.

To Find :

Capital Fund

To Prepare :

Opening Balance Sheet

Solution :

BALANCE SHEET AS ON 1 - APR - 2016

Liabilities Amt. Assets. Amt

Buildings. 2,00,000

Stationery. 5,000

Furniture. 50,000

C. F. 3,39,000

Subs. OS. 73,000

Cash Bal. 10,000

Rent Paid. 1000

_______ _______

3,39,000 3,39,000

Capital Fund - 3,39,000 ( Balancing Figure )

Note :

• C F - Capital Fund

• Subs. OS - Subscription Outstanding