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How are the following items shown in th...

How are the following items shown in the accounts of a Not-for-Profit Organisation ?
`{:(,,"Rs"),("Tournament Fund",,"50,000"),("Tournament Expenses",,"15,000"),("Receipts from Tournament",,"20,000"):}`

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The correct Answer is:
Balance of Tournament Fund on the Liabilities side of Balance Sheet -Rs 55,000
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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

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.

TS GREWAL-FINANCIAL STATEMENTS OF NOT-FOR-PROFIT ORGANISATIONS-Exercise
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