Question

PROJECT ON “ACCOUNTS OF NOT FOR PROFIT CONCERN”
Guidelines for the Project.

1. Introduce the concept, meaning and ten examples of NPO.
2. Discuss the difference between Profit making concerns and
Not for Profit Concerns.
3. Prepare an hypothetical question of Not for Profit Concern with
Receipt and Payments A/c and adjustments for the year end.
4. While designing the question, the following points should be kept
in mind :-
 Opening Capital fund should be Rs 1,17,200
 There should be an adjustment for subscription received in advance
and also outstanding subscription for previous year and current year.
 The following should be the balances of fixed assets at the end of the
year i.e 31 st March
Land & Building Rs 3,00,000
Furniture Rs 60,000
Computer Rs 40,000

Answer 1

sorry I don't know what is the answer.