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Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet?
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Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,...
Balance Sheet
Capital Fund
Opening Balance: ₹90,00,000
Expenditure on Building: ₹2,00,000
Prizes awarded: ₹1,00,000
Interest Received on Investments: ₹2,00,000
Investments made against Building, Prize, and Reserve Funds
Building Fund
Opening Balance: ₹12,00,000
Investments made against Building Fund
Prize Fund
Opening Balance: ₹6,00,000
Investments made against Prize Fund
Reserve Fund
Opening Balance: ₹2,00,000
Investments made against Reserve Fund
Calculating the Balance of Capital Fund
To calculate the balance of the Capital Fund to be shown in the Closing Balance Sheet, we need to consider the opening balance, the expenditure, and the investments made against the Capital Fund.
Opening Balance of Capital Fund: ₹90,00,000
Expenditure on Building: ₹2,00,000
This amount is deducted from the Capital Fund as it is an expense incurred during the year.
Prizes Awarded: ₹1,00,000
This amount is also deducted from the Capital Fund as it is an expense incurred during the year.
Interest Received on Investments: ₹2,00,000
This amount is added to the Capital Fund as it is income received during the year.
Investments made against Building, Prize, and Reserve Funds:
The investments made against the Building, Prize, and Reserve Funds are not directly added or deducted from the Capital Fund. These investments are made using the funds from the Capital Fund and are recorded separately in their respective funds.
Therefore, the balance of Capital Fund to be shown in the Closing Balance Sheet can be calculated as follows:
Opening Balance of Capital Fund (₹90,00,000) - Expenditure on Building (₹2,00,000) - Prizes Awarded (₹1,00,000) + Interest Received on Investments (₹2,00,000) = ₹89,00,000
Hence, the balance of Capital Fund to be shown in the Closing Balance Sheet is ₹89,00,000.
Capital Fund
Opening Balance: ₹90,00,000
Expenditure on Building: ₹2,00,000
Prizes awarded: ₹1,00,000
Interest Received on Investments: ₹2,00,000
Investments made against Building, Prize, and Reserve Funds
Building Fund
Opening Balance: ₹12,00,000
Investments made against Building Fund
Prize Fund
Opening Balance: ₹6,00,000
Investments made against Prize Fund
Reserve Fund
Opening Balance: ₹2,00,000
Investments made against Reserve Fund
Calculating the Balance of Capital Fund
To calculate the balance of the Capital Fund to be shown in the Closing Balance Sheet, we need to consider the opening balance, the expenditure, and the investments made against the Capital Fund.
Opening Balance of Capital Fund: ₹90,00,000
Expenditure on Building: ₹2,00,000
This amount is deducted from the Capital Fund as it is an expense incurred during the year.
Prizes Awarded: ₹1,00,000
This amount is also deducted from the Capital Fund as it is an expense incurred during the year.
Interest Received on Investments: ₹2,00,000
This amount is added to the Capital Fund as it is income received during the year.
Investments made against Building, Prize, and Reserve Funds:
The investments made against the Building, Prize, and Reserve Funds are not directly added or deducted from the Capital Fund. These investments are made using the funds from the Capital Fund and are recorded separately in their respective funds.
Therefore, the balance of Capital Fund to be shown in the Closing Balance Sheet can be calculated as follows:
Opening Balance of Capital Fund (₹90,00,000) - Expenditure on Building (₹2,00,000) - Prizes Awarded (₹1,00,000) + Interest Received on Investments (₹2,00,000) = ₹89,00,000
Hence, the balance of Capital Fund to be shown in the Closing Balance Sheet is ₹89,00,000.
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Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet?
Question Description
Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet?.
Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet?.
Solutions for Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet? in English & in Hindi are available as part of our courses for CA Foundation.
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Here you can find the meaning of Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet? defined & explained in the simplest way possible. Besides giving the explanation of
Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet?, a detailed solution for Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet? has been provided alongside types of Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet? theory, EduRev gives you an
ample number of questions to practice Balances as at 1.4.2020: Capital Fund ` 90,00,000. Building Fund ` 12,00,000, Prize Fund ` 6,00,000, Reserve Fund ` 2,00,000.During the year Expenditure on Building ` 2,00,000, Prizes awarded ` 1,00,000, Interest Received on Investments ` 2,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet? tests, examples and also practice CA Foundation tests.
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