Question

How will the following items be presented in the 'Income and Expenditure Account of a club for the year ending 31st March, 2019 and the Balance Sheet as on that date? lucome and F 3 3,00,000 Tournament Fund on 1st April, 2018 10% Tournament Fund Investments on Interest received on Tournament Fund Investments in 1st April, 201858 3,00,000 30,000 Sale of Tournament Tickets 75,000 Idw Inco Tournament prizes awarded 60,000 fully solve it

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Answer 1

Answer:

Balance sheet :Liability side:Tournament fund #300000+30000+75000-60000=345000 Asset side :10%tournament fund investment 300000

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