Question

how will you show the following items in the balance sheet of Vinod Welfare club on 31st March 2021.
1. Capital Fund (1st April 2020) - 700000
2. Building Fund (1st April 2020) - 600000
3. 5% p.a. building fund investment (1st April 2020) - 600000
4. Donation for building received during the year - 200000
5. Interest received on Building Fund Investment - 30000
Additional information: Expenditure on construction of Building Rs. 1000000. Construction work is in progress and not completed yet. ​

Answer 1

Answer:

On 1st April, 2020, the following were Ledger balances of M/s Ram & Co., Delhi:

Cash in Hand * 300; Cash at Bank * 7,000; Bills Payable 1,000; Zahir (Dr.) * 800; Stock

4,000; Gobind (Cr.) * 2,000; Sharma (Dr.) * 1,500; Rahul (Cr.) * 900; Capital 9,700.

Transactions during the month of April, 2020 were:

2020

900

1,000

1,200

500

April

2 Bought goods from Gobind, Delhi

April

3 Sold goods to Sharma, Kanpur .........

April 5 Bought goods from Rahul, Delhi

April

8 Sold goods to Zahir, Kolkata ........

April 15 Paid Gobind by cheque on account

April 18 Received from Sharma a cheque of

Allowed him discount................

April 20 Sold goods to Sharma, Kanpur

April 20 Paid rent by cheque