Question : Show how will you deal with the following items in the final accounts of a club :Rs.

Sports Fund 15,000

Sports Fund Investments 30,000

Income from Sports Fund Investments 1500

Donations for Sports Fund 12,000

Sports Prizes awarded 7,000

Expenses on Sports events 4,000

 

Option 1: Liability side: Sports Fund Rs. 17,500; Assets side: Sports Fund Investments Rs. 30,000

Option 2: Liability side: Sports Fund Rs. 14,500; Assets side: Sports Fund Investments Rs. 30,000

Option 3: Liability side: Sports Fund Rs. 20,500; Assets side: Sports Fund Investments Rs. 30,000

Option 4: None of the above

Question : Show how will you deal with the following items in the final accounts of a club :Rs.

Sports Fund 15,000

Sports Fund Investments 30,000

Income from Sports Fund Investments 1500

Donations for Sports Fund 12,000

Sports Prizes awarded

Question : Information:

Capital accounts of partners N and V = Rs  5,00,000 each. Balance in the current account of N and V Rs 50,000 and Rs 40,000 respectively. Bank loan = Rs 10,00,000. Goodwill Rs 50,000 investment Rs 25,000. Advertisement suspense = Rs 15,000. Based

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