Question

Q. 7. Show how will you deal with the following items while preparing the finalaccounts of a N.P.O. for the year ending 31st March, 2020 :HVBuilding Fund as on 1.4.2019Donation received for Building during the yearExpenditure on Construction of Building during the yearCapital Fund as on 1.4.2019Life membership fee receivedThe construction work is in progress and has not yet completed.8,00,00012,00,0007,00.00010,00,00050,00013,00,000.)[Ans. Balance of Capital Fund 17,50,000. Balance of Building Fund​

Answer 1

fund is liability so it is shown in the balance sheet.