Question : Prize Fund Rs. 2,00,000; Interest on Prize Fund Investments Rs. 20,000; Prizes awarded Rs. 40,000; Prize Fund Investments Rs. 1,00,000. How are the following items shown in the Income and Expenditure A/c of Not-for-Profit Organization?

Option 1: Rs.1,60,000

Option 2: Rs.1,00,000

Option 3: Nil

Option 4: Rs.2,00,000

Question : Prize Fund Rs. 1,00,000; Interest on Prize Fund Investments Rs. 10,000; Prizes awarded Rs. 20,000; Prize Fund Investments Rs. 80,000. How are the following items shown in the financial statements of Not-for-Profit Organizations?

Option 1: Balance to remain in the Liabilities side of the Balance Sheet 90,000

Option 2: Balance to remain in the Liabilities side of the Balance Sheet Rs 80,000

Option 3: Balance to remain in the assets side of the balance sheet Rs 90,000

Option 4: Balance to remain in the Liabilities side of the Balance sheet Rs 1,00,000

Question : Prize Fund Rs. 1,00,000; Interest on Prize Fund Investments Rs. 10,000; Prizes awarded Rs. 20,000; Prize Fund Investments Rs. 80,000. How are the following items shown in the financial statements of Not-for-Profit Organizations?

Option 1: Balance to remain in the Liabilities side of the Balance Sheet 90,000

Option 2: Balance to remain in the Liabilities side of the Balance Sheet Rs 80,000

Option 3: Balance to remain in the assets side of the balance sheet Rs 90,000

Option 4: Balance to remain in the Liabilities side of the Balance sheet Rs 1,00,000

Question : Prize Fund as on 31st March, 2017 = Rs 2,50,000

Donation for prizes received during the year 2017-2018 = Rs 1,20,000

10% prize fund investment as on 31st March, 2017 = Rs 2,00,000

Interest received on prize fund investment = Rs 16,000

Prizes awarded = Rs 1,15,000

Calculate the amount of prize fund after all adjustments as on 31st March 2018. 

Option 1: Prize Fund balance to be shown on the Liabilities side of Balance Sheet Rs 2,75,000

Option 2: Prize Fund balance to  be shown on the assets side of closing Balance Sheet Rs 2,75,000

Option 3: Prize Fund balance shown on the Liabilities side Rs 2,71,000

Option 4: Prize Fund Rs 2,71,000 balance shown on the Liabilities side of the Balance Sheet 

Question : From the following information given in respect of certain items of a Sports Club. 

Sports fund as on 1st April 2020 Rs 1,50,000

Sports Fund Investment  Rs 3,50,000

Interest on sports fund Investment Rs 40,000

Donation for sports fund Rs 1,50,000

Sports Prize awarded Rs 1,00,000

Expenses on Sports event Rs 40,000

Calculate the balance of Sports Fund as on March 31, 2021.

Option 1: Rs 4,40,000

Option 2: Rs 7,50,000

Option 3: Rs 2,00,000

Option 4: Rs 3,90,000