Request a call back

Join NOW to get access to exclusive study material for best results

CBSE Class 12-commerce Answered

In chapter 1 ,Not for profit organisation in que no 35 why we will not add interest on general fund investment in balance sheet ,and why we will not show intrest on sports fund investment in income side of income and expenditures a/c 
Asked by Smitakhadayate20 | 28 Nov, 2018, 05:57: AM
answered-by-expert Expert Answer
The question quoted above is related to creation of separate fund for some specific purposes. In such cases, incomes from these funds are credited to the respective fund account and expenses or payments out of thee funds are debited from respective fund. This fund is finally shown on the liabilities side of the Balance Sheet. This is the reason that income inform of interest on sports fund investments is added to Sports Fund and not directly in income and expenditure account.
And for all other where there is no specific fund, receipts are shown on the credit side of income and expenditure account and expenses on the debit side of income and expenditure account.
Answered by | 29 Nov, 2018, 10:29: AM

Application Videos

Concept Videos

CBSE 12-commerce - Accountancy
Asked by joymotibarman | 15 Jan, 2024, 02:15: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by divyanshmaheshwari2003 | 04 Nov, 2023, 05:06: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by deepamonidas1234 | 21 Sep, 2023, 09:14: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by officialpaperio.man | 31 Jan, 2022, 09:14: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by swapnil292001 | 08 Nov, 2020, 11:22: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by raksha2sanubth | 13 Jul, 2020, 11:22: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by raksha2sanubth | 13 Jul, 2020, 11:19: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by sonowalabhilash | 02 Jul, 2020, 09:46: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Accountancy
Asked by simarjiv10 | 24 Jun, 2020, 11:25: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
Get Latest Study Material for Academic year 24-25 Click here
×