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Question
Following is the information given in respect of certain items of a Sports Club. Show these items in the Income and Expenditure Account and the Balance Sheet of the Club:
| Particulars | Rs |
| Sports Fund as on 1.4.2015 | 35,000 |
| Sports Fund Investments | 35,000 |
| Interest on Sports Fund | 4,000 |
| Donations for Sports Fund | 15,000 |
| Sports Prizes awarded | 10,000 |
| Expenses on Sports Events | 4,000 |
| General Fund | 80,000 |
| General Fund Investments | 80,000 |
| Interest on General Fund Investments | 8,000 |
Ledger
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Solution
| Books of Sports Club | |||
| Dr. | Income and Expenditure A/c | Cr. | |
| Expenditure | Amount (Rs) | Income | Amount (Rs) |
| Interest on General Fund Investments | 8,000 | ||
| Balance Sheet | |||||
| Liabilities | Amount (Rs) | Amount (Rs) | Assets | Amount (Rs) | Amount (Rs) |
| Sports Fund | 35,000 | Sports Fund Investments | 35,000 | ||
| (+) Interest on Sports Fund | 4,000 | General Fund Investments | 80,000 | ||
| (+) Donations for Sports Fund | 15,000 | ||||
| (-) Expenses on Sports Event | (4,000) | ||||
| (-) Prize Awarded | (10,000) | 40,000 | |||
| General Fund | 80,000 | ||||
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Income and Expenditure Account Based on Trial Balance
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