How do u treat tournament expenses when a separate tournament fund is not maintained
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if opening tournament is not give in question and but already give you tournament expense
in this situation we always 1 st find the opening tournament to other information
there is a method to find opening values if opening values is not given
you can learn the method who is present in the books
I hope it's helpful to you
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FUND BASED ACCOUNTING is an exception to the general rule that all items of revenue or income and expenses are transferres to Income and Expenditure Acccount Such Tournament expenses shall not be shown in the Income and Expenditure Account but shall be deducted from Tournament Fund on the liabilities side of the
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