Following is the information in respect of certain items of a Sports Club. You are required to show them in the Income and Expenditure Account and the Balance Sheet.
Details
Amount
Rs
Sports Fund as on April 1, 2016
80,000
Sports Fund Investments
80,000
Interest on Sports Fund Investments
8,000
Donations for Sports Fund
30,000
Sports Prizes awarded
16,000
Expenses on Sports Events
7,000
General Fund
2,00,000
General Fund Investments
2,00,000
Interest on General Fund Investments
20,000
Following is the information in respect of certain items of a Sports Club. You are required to show them in the Income and Expenditure Account and the Balance Sheet.
|
Details |
Amount Rs |
|
Sports Fund as on April 1, 2016 |
80,000 |
|
Sports Fund Investments |
80,000 |
|
Interest on Sports Fund Investments |
8,000 |
|
Donations for Sports Fund |
30,000 |
|
Sports Prizes awarded |
16,000 |
|
Expenses on Sports Events |
7,000 |
|
General Fund |
2,00,000 |
|
General Fund Investments |
2,00,000 |
|
Interest on General Fund Investments |
20,000 |
Income and Expenditure Account
as on March 31, 2016
Dr.
Cr.
Expenditure
Amount
Rs
Income
Amount
Rs
Interest on General Fund Investments
20,000
Balance Sheet
as on March 31, 2016
Liabilities
Amount
Rs
Assets
Amount
Rs
Sports Fund
80,000
Sports Fund Investments
80,000
Add: Interest on Sports Fund
General Fund Investments
2,00,000
Investments
8,000
Add: Donation for Sports Fund
30,000
1,18,000
Less: Sports Prizes Awarded
(16,000)
Less: Expenses on Sports Events
(7,000)
95,000
General Fund
2,00,000
|
Income and Expenditure Account as on March 31, 2016 |
|||||
|
Dr. |
|
Cr. |
|||
|
Expenditure |
Amount Rs |
Income |
Amount Rs |
||
|
|
|
Interest on General Fund Investments |
20,000 |
||
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|
|
|
|
||
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|
Balance Sheet as on March 31, 2016 |
||||
|
Liabilities |
Amount Rs |
Assets |
Amount Rs |
|
|
Sports Fund |
80,000 |
|
Sports Fund Investments |
80,000 |
|
Add: Interest on Sports Fund |
|
|
General Fund Investments |
2,00,000 |
|
Investments |
8,000 |
|
|
|
|
Add: Donation for Sports Fund |
30,000 |
|
|
|
|
|
1,18,000 |
|
|
|
|
Less: Sports Prizes Awarded |
(16,000) |
|
|
|
|
Less: Expenses on Sports Events |
(7,000) |
95,000 |
|
|
|
|
|
|
|
|
|
General Fund |
2,00,000 |
|
|
|
|
|
|
|
|
|
