Question 27 Chapter 1 of +2-Part-1
Table of Contents
27. (Treatment of Prize Fund) How the following information will appear in the Balance Sheet as on 31-3-2015:
| Particulars | Rs. |
| Prize Fund 1-4-14 | 20,000 |
| Prizes awarded 2014-15 | 13,000 |
| Donations for prizes received | 16,000 |
The solution of Question 27 Chapter 1 of +2 Part-1: –
| Interest to be credited to Income and Expenditure account |
||
| Particulars |
Amount | |
| Prize fund balance as on 1-4-14 | 20,000 | |
| Add: Donations for prizes received during 2014-15 | 16,000 | |
| 36,000 | ||
| Less: Prizes awarded for 2014-15 | (13,000) | |
| Prize Fund balance to appear in Balance Sheet as on 31-3-2015 | 23,000 | |
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Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
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