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

Question : Queens Club had a sports fund of Rs 20,000 in the beginning. During the year donations received towards this fund were Rs 60,000 and expenses on the sports fund were Rs 90,000. Interest received towards this fund was Rs 60,000 and expenses on sports fund Rs 90,000, interest received on prize fund investment was Rs 2,000. calculate the amount of the closing balance of the Sports Fund.

Option 1: Rs 8,000

Option 2: Rs 82,000

Option 3: Rs 80,000

Option 4: None of the above 

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

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