Question 27 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part

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

Thanks, Please Like and share with your friends

Comment if you have any questions.

Also, Check out the solved question of previous Chapters: –

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