Question

How will you deal with the following items while preparing for the Bombay Women Cricket Club its income and expenditure account for the year ending 31.3.2017 and its Balance Sheet as on 31.3.2017: Rs (a) Donation received during the year for the construction of a permanent Pavilion 12,25,000 Expenditure incurred up to 31.3.2017 on its construction 10,80,000 The total estimated expenditure on construction of Pavilion being 25,00,000 (b) Tournament Fund: Balance as on 1.4.2016 10,700 Subscriptions for tournament received during the year 65,800 Expenditure incurred during the year on conducting tournaments 72,400 (c) Life Membership fee received during the year 28,000 Give reasons for your answers

Answer 1

Answer:

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