Some Peculiar Items Video Lecture - SSC CGL Tier 2 - Study Material, Online

Hill Mota Club was holding a building
valuing rupees 20 lakhs at the beginning
of the year and there was a fund of 12
lakhs at the beginning of the year
during the year donation was received to
the value of 30 lakhs give journal
entries and the effect in the balance
sheet if it were chases building of 25
lakhs during the year so let us take
this particular asset Cave journal
entries and effect in the balance sheet
as far as the balance sheet is concerned
at the moment there is building on the
desert side building on the asset side
of 20 lakhs and here we have a building
fund a building fund often this is the
position during the year we receive a
donation for 30 lakhs what is the entry
on receipt we will say bank account
debit - building fund how much did we
get donation was received to the value
of 30 lakhs bank account debit to
building 113 X what is the come what is
the club do the club is purchased a
building of 25 lakhs
what is the entry for purchasing
building building account debit to bank
for how much 25 lakhs building purchase
for 20 points
so now what will be transferred how much
will be transferred to the how much will
be transferred to the capital fund or
accumulated from rajul either 25 or 30
lakhs whichever is low so 25 worth of
building was bought therefore we will
transfer from the building fund
things fund account debit removing from
the building fund - let us say general
fund how much 25 lakhs as a result of
this building has increased by 25 we
have 45 worth of building as for the
building fund we had 12 plus received we
had how much did we receive we receive
30 lakhs so we had 42 lakhs but how much
was transferred to the accumulated fund
transferred amount of 25 was transferred
so we have now a balance of 17 in the
building fund building is 14 there is
still a balance of 14 in 17 lakhs in the
building from and of course accumulated
fund or general fund has increased by 25
lakhs
let us take a small variation of this
mantra of this problem again building of
20 lakhs at the beginning of the year
building fund that 12 lakhs during the
year donation received also 30 lakhs but
it purchased a building of 45 lakhs
during the year so what happened
donation received bank account debit
donation received is how much 30 lakhs
bank account debit - building fund 30
lakhs next building purchased 40 finance
so building account debit building
account debit - bank 45 lakhs
next what is the amount that we can
transfer to the capital fund building
fund account debit
- we are transferring to capital or
general fund what is the balance that we
have let us just look at the effect in
the balance sheet what we have let us
see what is the balance that we have we
have a building had a balance of 20 plus
purchased addition how much did we
purchase a building of 4490 so we have
65 lakh of building here we have a
building fund we had a building fund
opening balance of 12 lakhs then add
addition we received how much we receive
30 lakhs so now we have 42 minutes we
have bought building worth 45 knots
we cannot transfer party fine that we
can transfer only 42 minutes so let's
transfer to general fund 42 now we have
little balance in the building fine so
what is happening here here also we have
the same opening balances 20 lakhs of
building but only 12 lakhs of the
building fund 30 lakhs even so that we
had built in front of 42 lands but the
amount of building that we have
purchased in the current here is 45
lakhs we can transfer only 42 laps and
not more because the balance in the
building fund is 42 lakhs
this is how we tripped special fund
special donation special