Question

on the assets side 360,000.)
0. 5. Show how would you deal with the following items while preparing the
financial statements of a 'Not-for-Profit organisation :
Tournament Fund
Contribution received for Tournament
Tournament expenses
Interest received on Tournament fund Investments
Receipts from Tournament Tickets
2,00,000
40,000
80,000
12,000
20,000
[Ans. Net amount of Tournament fund shown on the liabilities side of Balance
Sheet 1,92,000.]​

Answer 1

Answer:

Explanation:

balance sheet as at

liabilities.                                                    ₹.          Assets.                                  ₹

Tournament fund.              200000.                Tournament fund investment

(+)contribution received.   40000

(+)interest received            12000

(+)receipts from tickets.     20000

(-)tournament expenses     80000.     192000

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