Question

How will be the following items dealt while preparing Balance of Mumbai

club as at 31st March 2020
a) Capital fund 1st April 2019: 30,00,000

b) Life membership fees received during the year 40,000

c) Subscription received for Annual dinner 60,000

Outstanding subscription for Annual Dinner 10,000

d) Building fund: - 12,00,000

Donation received for the building 25,00,000

Expenditure on Building Construction (WIP) 22,00,000​

Answer 1

club as at 31st March 2020

a) Capital fund 1st April 2019: 30,00,000

b) Life membership fees received during the year 40,000

c) Subscription received for Annual dinner 60,000

Outstanding subscription for Annual Dinner 10,000

d) Building fund: - 12,00,000

Donation received for the building 25,00,000

Expenditure on Building Construction (WIP) 22,00,000

Answer 2

Answer:

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