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35. How will be the following items dealt while preparing the Balance Sheet for the year ending 31st March,2020 of Confident Club?₹Particulars5,00,00012,50,00011,25,000(a) Building FundDonation Received for the BuildingExpenditure on Building Construction (WIP)(b) Match Fund as on 1st April, 2019Donation Received for Matches7,50012,50021,000Match ExpensesProceeds for Sale of Match Tickets17,50020,00030,000(c) Life Membership Fees Received during the Year(d) Subscription for Governor's PartyOutstanding Subscription for Governor's Party(e) Capital Fund as on 1st April, 20195,00012,50,000 |
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Answer» Explanation: building in progress is an expenditure of CAPITAL NATURE . it should be shown on assets SIDE and same AMOUNT should be transfer from SPECIAL fund to capital fund. |
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