Q.21) The opening balance of Prize Fund was 32,800.
During the year, donations reoeived towards this fund
amounted to 15,400; amount spent on prizes was
12,300 and interest received on prize fund investment
was 4,000. State the closing balance of Prize Fund.
Show your workings clearly.
Answers
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11
Answer:
Rs. 39900
Explanation:
Opening balance = Rs. 32800
Received amounts, Donations = Rs. 15400
Interest on prizes = Rs. 4000
Spent amounts, Spent on Prizes = Rs. 12300
Closing Balance
= Opening Balance + Received amounts - Spent amt
= 32800 + 15400 + 4000 - 12300
= 52200 - 12300
= Rs. 39900
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