Closing Match Fund = Opening Match Fund + Donations for match + Sale of match tickets - Match expenses.
= 8,50,000 + 4,25,000 + 1,15,000 - 14,00,000
= 13,90,000 - 14,00,000
= (10,000) i.e. a deficit of Rs.10,000.
The shortfall is transferred to Income and Expenditure A/c as expense.
A Club has Opening balance of Rs.8,50,000 in Match fund. Donation received for match during the current year amounted to Rs. 4,25,000. Sale of match…
CUET UG 2022 — Accountancy Financial Statements
2022mcqmedium
A Club has Opening balance of Rs.8,50,000 in Match fund. Donation received for match during the current year amounted to Rs. 4,25,000. Sale of match tickets amounted to Rs. 1,15,000. Match expenses incurred were Rs.14,00,000 Balance in the Match fund at the year end will be:
Official previous-year question
Held on 16 Jul 2022 · Verified 13 Jul 2026.
Options
- A
Rs. 10,000
- B
Rs. (20,000)
- C
Rs. (1,25,000)
- D
Rs. (10,000)
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