(a) Show the following information in financial statements of a ‘ Not-for-Profit’ Organisation:

(b) What will be the effect, if match expenses go up by Rs. 6,000 other things remaining the same?

Explanation

(a)
Balance Sheet as on………..*

* Only relevant data.
(b)
If match expenses go up by Rs. 6,000, the net balance of the match fund becomes negative i.e. Debit exceeds the Credit, and the resultant debit balance of Rs. 2,000 shall be charged to the Income and Expenditure Account of that year.