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.]
Answers
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6
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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