On 1st April,2019 a club had a Prize Fund of Rs.8,00,000. It spent Rs.8,70,000 during the year on prize distribution. How it would be treated in financial statements of the club for the year ended on 31st March,2020?
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price fund
op balance 8,00,000
spend. ( 8,70,000)
(70,000)
and now 70,000 treated in financial statement in the dr said of the balance sheet
and
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