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Q. 6. Show how you would deal with the following items in respect of a club for the
year ending on 31st March, 2002 :
₹
Tournament Fund Balance as on 31st March, 2001
60,000
Donations towards Tournament Fund received during the year
12,000
Expenditure incurred during the year on Conducting Tournaments
13,600
Interest received on Tournament Fund Investments
4.800
[Ans. Tournament Fund balance to be shown on the liabilities side of the
Balance Sheet 63,200.]
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[A​

Answer 1

Answer:

Balance Sheet

as on 31st mar 2002

liabilities। Amt। Asset Amt

Tournament fund 60000

+ donations 12000

+interests

received on tournament

investment। 4800

(-) expenses

incurred on

tournament 13600

balance। 63200