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How would you treat the following items ...

How would you treat the following items in the case of a ‘not-for-profit’ organisation?
Prize Fund Rs. 22,000. Interest on Prize fund Investments Rs. 3,000. Prizes given Rs. 5,000. Prize fund Investments Rs. 18,000.

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There is a specific fund. The accounting treatment is as under:
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How are following items accounted in a Not-for-profit Organisation ? (i) Tournament Fund Rs 2,00,000 , Tournament Expenses Rs. 60,000, Receipts from Tournament Rs.80,000. (ii) Billiard Match Expenses Rs. 25,000. (III) Prize fund Rs. 1,00,000, Interest on Prize Fund Investments Rs. 10,000 , Prizes paid Rs. 20,000, Prize fund investments Rs. 80,000. (iv) Receipts From Cinema show Tickets Rs. 50,000, Expenses on Cinema show Rs. 15,000. (v) Expenditure on construction of Pavilion during the year was Rs. 6,00,000. the construction work is in progress and not yet completed . Pavilion fund as on 31st March , 2018 Rs. 8,00,000 . Donation for Pavilion received on 15th September , 2018 Rs. 10,00,000, Capital fund as at 31st March 2018 Rs. 20,00,000.

How are the following items presented in financial statements of a Not-for- Profit organisation:- (a) Tournament Fund- 80,000 (b) Tournament expenses-14,000

NCERT-ACCOUNTING FOR NOT-FOT PROFIT ORGANISATION-All Questions
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  2. How would you treat the following items in the case of a ‘not-for-prof...

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  3. How would you treat the following items in the case of a ‘not-for-prof...

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  4. How would you treat the following items in the case of a ‘not-for-prof...

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  5. State the meaning of ‘Not- for- Profit’ Organisations.

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  6. State the meaning of Receipt and Payment Account.

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  7. State the meaning of Income and Expenditure Account.

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  8. What are the feature of Receipt and Payment Account?

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  9. What steps are taken to prepare Income and Expenditure Account from a ...

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  10. What is subscription? How is it calculated?

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  11. What is Capital Fund? How is it calculated?

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  12. Explain the statement: “Receipt and Payment Account is a summarised ve...

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  13. “Income and Expenditure Account of a Not-for-Profit Organisation is ak...

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  14. Distinguish between Receipts and Payments Account and Income and Expen...

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  15. Explain the basic features of Income and Expenditure Account and of Re...

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  16. What is Receipt and Payment Account? How is it different from Income a...

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  17. From the following particulars taken from the Cash Book of a health cl...

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  18. The Receipt and Payment Account of Harimohan charitable institution is...

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  19. From the following particulars , prepare Income and Expenditure accoun...

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  20. Following is the information given in respect of certain items of a Sp...

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