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.
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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
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