Question 29 Chapter 1 of +2-Part-1
29. (Treatment of Sports Fund) How will you deal with sports fund items, while preparing final account of Delhi Citizens Club for the year 2014-15.
| Particulars | Dr. | Cr. |
| Balance (Rs.) | Balance (Rs.) | |
| Sports Fund | – | 90,000 |
| 10% Sports Fund Investments | 70,000 | – |
| Interest on Investments | – | 7,000 |
| Sports Expenses | 1,04,000 | – |
| Sports fees collected | – | 12,000 |
The Content covered in this article:
- The solution of Question 29 Chapter 1 of +2 Part-1
- : –
- T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
The solution of Question 29 Chapter 1 of +2 Part-1
: –
| Interest to be credited to Income and Expenditure account |
||
| Particulars |
Amount | |
| Sports Fund as on 1-4-2014 | 90,000 | |
| Add: Interest earned on Sports Fund Investments | 7,000 | |
| Sports fees collected during the year | 2,000 | |
| 99,000 | ||
| Less: Sports Expenses incurred during the year | (1,04,000) | |
| Sports Fund balance as on 31-3-2015 | (5,000) | |
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Also, Check out the solved question of previous Chapters: –
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
