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The information given below relates to a sports club. Show them in the Balance Sheet of the club as at 31st March 2020. (i) Sports Fund as at 1st April,2019 5,00,000 (ii) Sports Fund Investment 5,00,000 (iii) Interest on sports fund investment 50,000 (iv) Donations for Sports Fund 2,00,000 (v) Sports prizes awarded 1,00,000 (vi) Expenses on Sports Events 50,000?
Most Upvoted Answer
The information given below relates to a sports club. Show them in the...
Liabilities side:-
sports fund - 500000
(+)interest on fund- 50000
(+)donation - 200000
(-) prizes - (100000)
(-)expense
assets side:-
investment- 500000
sports fund - 500000
(+)interest on fund- 50000
(+)donation - 200000
(-) prizes - (100000)
(-)expense
assets side:-
investment- 500000
Community Answer
The information given below relates to a sports club. Show them in the...
Balance Sheet of the Sports Club as at 31st March 2020
Sports Fund
- Opening balance as at 1st April 2019: Rs. 5,00,000
- Donations for Sports Fund: Rs. 2,00,000
- Total Sports Fund: Rs. 7,00,000
Investments
- Sports Fund Investment: Rs. 5,00,000
Income
- Interest on sports fund investment: Rs. 50,000
Expenditure
- Sports prizes awarded: Rs. 1,00,000
- Expenses on Sports Events: Rs. 50,000
Explanation:
The Balance Sheet of the sports club as at 31st March 2020 includes the following key components:
1. Sports Fund: The opening balance of the Sports Fund as at 1st April 2019 was Rs. 5,00,000. During the year, donations amounting to Rs. 2,00,000 were received, resulting in a total Sports Fund of Rs. 7,00,000.
2. Investments: The Sports Club made investments amounting to Rs. 5,00,000 in the Sports Fund.
3. Income: The club earned interest on its Sports Fund investment, amounting to Rs. 50,000.
4. Expenditure: Sports prizes worth Rs. 1,00,000 were awarded during the year, and expenses incurred on Sports Events amounted to Rs. 50,000.
Overall, the Balance Sheet reflects the financial position of the sports club as at 31st March 2020, showcasing the assets, liabilities, and fund balances of the club related to its sports activities.
Sports Fund
- Opening balance as at 1st April 2019: Rs. 5,00,000
- Donations for Sports Fund: Rs. 2,00,000
- Total Sports Fund: Rs. 7,00,000
Investments
- Sports Fund Investment: Rs. 5,00,000
Income
- Interest on sports fund investment: Rs. 50,000
Expenditure
- Sports prizes awarded: Rs. 1,00,000
- Expenses on Sports Events: Rs. 50,000
Explanation:
The Balance Sheet of the sports club as at 31st March 2020 includes the following key components:
1. Sports Fund: The opening balance of the Sports Fund as at 1st April 2019 was Rs. 5,00,000. During the year, donations amounting to Rs. 2,00,000 were received, resulting in a total Sports Fund of Rs. 7,00,000.
2. Investments: The Sports Club made investments amounting to Rs. 5,00,000 in the Sports Fund.
3. Income: The club earned interest on its Sports Fund investment, amounting to Rs. 50,000.
4. Expenditure: Sports prizes worth Rs. 1,00,000 were awarded during the year, and expenses incurred on Sports Events amounted to Rs. 50,000.
Overall, the Balance Sheet reflects the financial position of the sports club as at 31st March 2020, showcasing the assets, liabilities, and fund balances of the club related to its sports activities.
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The information given below relates to a sports club. Show them in the Balance Sheet of the club as at 31st March 2020. (i) Sports Fund as at 1st April,2019 5,00,000 (ii) Sports Fund Investment 5,00,000 (iii) Interest on sports fund investment 50,000 (iv) Donations for Sports Fund 2,00,000 (v) Sports prizes awarded 1,00,000 (vi) Expenses on Sports Events 50,000?
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The information given below relates to a sports club. Show them in the Balance Sheet of the club as at 31st March 2020. (i) Sports Fund as at 1st April,2019 5,00,000 (ii) Sports Fund Investment 5,00,000 (iii) Interest on sports fund investment 50,000 (iv) Donations for Sports Fund 2,00,000 (v) Sports prizes awarded 1,00,000 (vi) Expenses on Sports Events 50,000? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about The information given below relates to a sports club. Show them in the Balance Sheet of the club as at 31st March 2020. (i) Sports Fund as at 1st April,2019 5,00,000 (ii) Sports Fund Investment 5,00,000 (iii) Interest on sports fund investment 50,000 (iv) Donations for Sports Fund 2,00,000 (v) Sports prizes awarded 1,00,000 (vi) Expenses on Sports Events 50,000? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The information given below relates to a sports club. Show them in the Balance Sheet of the club as at 31st March 2020. (i) Sports Fund as at 1st April,2019 5,00,000 (ii) Sports Fund Investment 5,00,000 (iii) Interest on sports fund investment 50,000 (iv) Donations for Sports Fund 2,00,000 (v) Sports prizes awarded 1,00,000 (vi) Expenses on Sports Events 50,000?.
The information given below relates to a sports club. Show them in the Balance Sheet of the club as at 31st March 2020. (i) Sports Fund as at 1st April,2019 5,00,000 (ii) Sports Fund Investment 5,00,000 (iii) Interest on sports fund investment 50,000 (iv) Donations for Sports Fund 2,00,000 (v) Sports prizes awarded 1,00,000 (vi) Expenses on Sports Events 50,000? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about The information given below relates to a sports club. Show them in the Balance Sheet of the club as at 31st March 2020. (i) Sports Fund as at 1st April,2019 5,00,000 (ii) Sports Fund Investment 5,00,000 (iii) Interest on sports fund investment 50,000 (iv) Donations for Sports Fund 2,00,000 (v) Sports prizes awarded 1,00,000 (vi) Expenses on Sports Events 50,000? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The information given below relates to a sports club. Show them in the Balance Sheet of the club as at 31st March 2020. (i) Sports Fund as at 1st April,2019 5,00,000 (ii) Sports Fund Investment 5,00,000 (iii) Interest on sports fund investment 50,000 (iv) Donations for Sports Fund 2,00,000 (v) Sports prizes awarded 1,00,000 (vi) Expenses on Sports Events 50,000?.
Solutions for The information given below relates to a sports club. Show them in the Balance Sheet of the club as at 31st March 2020. (i) Sports Fund as at 1st April,2019 5,00,000 (ii) Sports Fund Investment 5,00,000 (iii) Interest on sports fund investment 50,000 (iv) Donations for Sports Fund 2,00,000 (v) Sports prizes awarded 1,00,000 (vi) Expenses on Sports Events 50,000? in English & in Hindi are available as part of our courses for Commerce.
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