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Question : Sports  Fund on 1st January 2017       Rs 50,000

15% sports fund Investment ( Face value Rs 60,000)       Rs 50,000

Interest received on Sports fund investment   Rs 7000

Expenses on sports events during 2017      Rs 15000

Purchase of sports equipment during the 2017 20,000

Sports prizes awarded during the year              Rs 5000

Donation received for sports Fund during the year      Rs 20,000

Option 1: Rs 59,000

Option 2: Rs 39,000

Option 3: Rs 79,000

Option 4: Rs 80,000


Team Careers360 15th Jan, 2024
Answer (1)
Team Careers360 16th Jan, 2024

Correct Answer: Rs 39,000


Solution : Sports  Fund on 1st January 2017               = Rs 50,000
(+) Interest on sports fund investment         =  Rs.9,000
(-) Expenses on sports events during 2017 = (Rs 15000)
(-) Sports prizes awarded during the year    = (Rs 5000)
(+) Donation received for sports Fund          = Rs 20,000
(-) Purchases of Sports fund                        = (Rs 20,000)
Amount credited to I&E A/c                           = Rs 39,000

Hence, the correct option is 2.

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