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: –
| 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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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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