Advertisements
Advertisements
प्रश्न
Fill in the blank.
'Prepaid Expenses' are presented in the Balance Sheet of a company under the sub-head ____________.
उत्तर
‘Prepaid Expenses’ are presented in the Balance Sheet of a company under the sub-head Other Current Assets.
APPEARS IN
संबंधित प्रश्न
How are the following items shown in the accounts of a Not-for-Profit Organisation ?
| Rs. | |
| Tournament Fund | 50,000 |
| Tournament Expenses | 15,000 |
| Receipts from Tournament | 20,000 |
How are the following dealt with in the accounts of a Not-for-Profit Organisation ?
|
Case I
|
Dr. (₹)
|
Cr.(₹) |
Case II
|
Dr. (₹) | Cr. (₹) |
| Prize Fund Prizes Paid Match Expenses |
12,000
15,000 |
50,000 | Match Fund Match Expenses Investments of Match Fund Interest on Match Fund Investments Prizes Paid |
35,000 60,000 19,000 |
1,00,000 3,000 |
How are the following dealt with while preparing the final accounts of a club?
| TRIAL BALANCE as at 31st March, 2019 |
||
| Particulars |
Dr.(₹)
|
Cr. (₹) |
| Match Fund | ........ | 80,000 |
| Match Fund Investments | 72,000 | ......... |
| Match Fund Bank Balance | 35,000 | ....... |
| Interest on Match Fund Investments | ......... | 2880 |
| Match Expenses | 5,500 | ......... |
Show how are the following items dealt with while preparing the final accounts for the year ended 31st March, 2019 of a Not-for-profit Organisation:
Case I
Expenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Capital Fund as at 31st March, 2018 is ₹ 20,00,000.
Case II
Expenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March, 2018 is ₹ 10,00,000 and Capital Fund as at 31st March, 2018 is ₹ 20,00,000.
Case III
Expenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March, 2018 is ₹ 10,00,000, and Capital Fund as at 31st March, 2018 is ₹ 20,00,000. Donation Received for Pavilion on 1st January, 2019 is ₹ 5,00,000.
How are the following dealt with while preparing the final accounts for the year ended 31st , 2019?
| RECEIPTS AND PAYMENTS ACCOUNT (AN EXTRACT) for the year ended 31st March, 2019 |
||||
| Dr. | Cr. | |||
| Receipts | ₹ | Payments | ₹ | |
| By Payments for Sports Material | 1,40,000 | |||
| BALANCE SHEET (AN EXTRACT) as at 1st April, 2018 |
||||
|
Liabilities |
₹ |
Assets |
₹ | |
| Creditors for Sports Materials | 6,000 | Sports Materials | 8,000 | |
Additional information :
Sports Materials in Hand on 31st March, 2019 – ₹ 22,000.
Choose the appropriate alternative from the given options:
Jaipur Club has a prize fund of ₹ 6,00,000. It incurs expenses on prizes amounting to ₹ 5,20,000. The expenses should be
Choose the appropriate alternative from the given options:
The Balance Sheet provides information about financial position of an enterprise :
Fill in the blank.
'Interest accrued on investments' will be presented in the Balance Sheet of a company under the sub-head ________.
Youth Ltd. took a loan of ₹ 15,00,000 from State Bank of India against the security of tangible assets. In addition to principal security, it issued 10,000 11% debentures of ₹ 100 each as collateral security.
Pass necessary journal entries for the above transactions, if the company decided to record the issue of 11% debentures as collateral security and show the presentation in the Balance Sheet of Youth Ltd.
Complete the following sentence.
______ is the amount paid to the person who is not a regular employee of the institution.
Complete the following sentence.
______ is a fund arising from a bequest or gift, the income of which is devoted to a specific purpose.
Outstanding expenses and the incomes received for next year will be shown under ______.
Show the following information in the Balance Sheet of 'Dev Sports Club':
| Particulars | ₹ |
| Match Fund (as on 31st March, 2020) | 1,70,000 |
| Match Expenses (paid during the year ended 31st 2,50,000 March, 2021) | 2,50,000 |
| Donations for Match (Received during the year ended 31st March, 2021) | 90,000 |
Present the following information in the Balance Sheet of Wisdom Club as at 31st March, 2021:
| Particulars | Amount (₹) |
| Prize fund (1st April, 2020) | 4,80,000 |
| Prize fund Investment (1st April, 2020) | 4,80,000 |
| Prizes awarded | 1,50,000 |
The Annual Report of ITC Ltd., for the financial year 2021-22, showed Claims against the Company not acknowledged as debts of ₹ 880.58 crores including Third party claims arising from disputes relating to contracts aggregating ₹ 29.22 crores.
Mention the heading and the sub-heading under which this item would, have been shown in the Notes to Accounts accompanying the Balance Sheet of ITC Ltd. as at 31st March, 2022.
