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Question
How will the following items be presented in the Balance Sheet of 'Miso Club'?
| Particulars | Amount (₹) |
| Tournament fund on 1st April, 2020 | 3,00,000 |
| Sale of Tournament Tickets during the year | 75,000 |
| Tournament prizes awarded during the year | 60,000 |
Ledger
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Solution
| Balance Sheet of Miso Club as at 31st March, 2021 |
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| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) |
| Tournament Fund | 3,00,000 | 3,15,000 | ||
| Add: Sale of Tournament Tickets | 75,000 | |||
| Less: Tournament Prize Awarded | 60,000 | |||
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