How will be the following items dealt while preparing the final accounts of a club for the
year ending 31st March, 2020?
Particulars Amt. (Rs.)
Prize Fund
10% Prize Fund Investment on 1st April, 2019
Donations for Prize Fund received During the Year
Prize Awarded During the Year
Interest Received on 10% Prize Fund Investment
80,000
80,000
20,000
25,000
6,000
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Answer:
Liabilities side= 1,00,000+15,000+4,500-17500=1,02,000.
And prize fund investment 1,00,000 will come in 5he assets side
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