How will be the following items dealt while preparing the balance sheet for the year ended 31st march 2020 of complaint club particular a building. 5 lakh donation received for the building 1250000 expenditure on the building construction 1125000 be match fund as on 1st april 2019 7502 understand received for matches 12500 match expensive 30,000 proceeds for the sale of match tickets 17580 life membership fees received during the year 2020 subscription for the government party 30,000 outstanding subscription for government party 5000 capital fund as on 1st april 2019 1250000
Answers
Answer:
Explanation:
Balance sheet( an extract)
for the year ended 31st march 2020
liability Assets rs
capital fund
opening balance 12,50,000 building in progress(w.n 1) 11,25,000
add: life membership fees 20,000
add: transferred from building fund 11,25,000
Building fund 5,00,000
add: donations 12,50,000
less: transfer to capital fund 11,25,000
Match fund 7500
add: donations 12,500
add: procees from sale of match tickets 17,500
less: expenses 21,000
subscription for governor's party 30,000
add: outstanding subscription 5,000