Question :

Which of the following will not appear on the asset side of the Balance Sheet of a Social Club?

Option 1: Honorarium

Option 2: Sports fund Investment

Option 3: Balance of cash in hand and Bank

Option 4: Outstanding Subscription

Question : Subscription received in advance by a club are shown in the:

Option 1: Credit side of Income and Expenditure Account

Option 2: Credit side of Receipts and Payments Account

Option 3: Liability side of the Balance Sheet

Option 4: Asset side of the Balance Sheet

Question :

The amount received from the sale of old sports material by a sports club is shown on:

Option 1: Debit side of Income and Expenditure Account

Option 2: Credit side of Income and Expenditure Account

Option 3: Credit side of Receipts and Payments Account

Option 4: Assets side of Balance Sheet

Question :

The amount received on the sale of furniture will be shown on:

Option 1: Credit side of Income and Expenditure

Option 2: Debit side of Income and Expenditure Account

Option 3: Debit side of Receipts and Payments Account

Option 4: Credit side of Receipts and Payments Account

Question :

Yoga Club collected life membership fees of Rs.1,50,000. This amount will be shown in the books on:

Option 1:

Credit side of Income and Expenditure A/c

Option 2:

Debit side of Income and Expenditure A/c

Option 3:

Added to capital fund in Balance Sheet

Option 4: Shown on assets side of Balance Sheet