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How Are the Following Dealt with While Preparing the Final Accounts of a Club? - Accountancy

Ledger

How are the following dealt with while preparing the final accounts of a club?      

TRIAL BALANCE as
at 31st March, 2019
Particulars
Dr.(₹)
    Cr. (₹)
Match Fund ........ 80,000
Match Fund Investments 72,000 .........
Match Fund Bank Balance 35,000 .......
Interest on Match Fund Investments ......... 2880
Match Expenses 5,500 .........
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Solution

Balance Sheet

as at 31st March, 2019

Liabilities 

Amount

()

Assets 

Amount

(₹)

Match Fund

80,000

 

Match Fund Investment

72,000

Add: Interest on Match Fund Investment

2,880

 

Match Fund Bank Balance             

3,500

Less: Match Expenses

(5,500)

77,380

 

 

Concept: Preparation of Balance Sheet
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APPEARS IN

TS Grewal Class 12 Accountancy - Double Entry Book Keeping Volume 1
Chapter 1 Financial Statements of Not for Profit Organisations
Exercise | Q 8 | Page 57
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