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Question
Present the following information in the Balance Sheet of Wisdom Club as at 31st March, 2021:
| Particulars | Amount (₹) |
| Prize fund (1st April, 2020) | 4,80,000 |
| Prize fund Investment (1st April, 2020) | 4,80,000 |
| Prizes awarded | 1,50,000 |
Ledger
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Solution
| In the books of Wisdom Club Balance Sheet [An Extract] as at 31st March 2021 |
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| Liabilities | Amount (₹) | Amount (₹) | ||
| Prize fund | 4,80,000 | Prize fund Investment | 4,80,000 | |
| Less: Prizes Awarded | (1,50,000) | 3,30,000 | ||
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