Advertisements
Advertisements
Question
The opening balance of Prize Fund was ₹ 32,800. During the year, donations received towards this fund amounted to ₹ 15,400 amount spent on prizes was ₹ 12,300 and interest received on Prize Fund Investment was ₹ 4,000. The closing balance of Prize Fund will be ______.
Options
₹ 56,500
₹ 64,500
₹ 39,900
₹ 31,900
MCQ
Fill in the Blanks
Solution
The opening balance of Prize Fund was ₹ 32,800. During the year, donations received towards this fund amounted to ₹ 15,400 amount spent on prizes was ₹ 12,300 and interest received on Prize Fund Investment was ₹ 4,000. The closing balance of Prize Fund will be ₹ 39,900.
Explanation:
| Particulars | Amount (₹) |
| Opening Balance of Prize Fund | 32,800 |
| Add: Donations Received towards Prize Fund | 15,400 |
| 48,200 | |
| Less: Amount spend on prizes | 12,300 |
| 35,900 | |
| Add: Interest Received on Prize Fund Investment | 4,000 |
| Closing balance of Prize Fund | 39,900 |
shaalaa.com
Preparation of Income and Expenditure Account
Is there an error in this question or solution?
