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

Question 27 Chapter 1 of +2- Part-

Question 27 Chapter 1 of +2-Part-1

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
  • Chapter No. 3 – Partnership Accounts – II (Introduction)
  • Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)
  • Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)
  • Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)
  • Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)
  • 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 (Balance Sheet Only)
  • Chapter No. 2 – Techniques of Financial Statement Analysis
  • Chapter No. 3 – Ratio Analysis 
  • Chapter No. 4 – Cash Flow Statement

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 1 min - Question 27 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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