How will you show Bank overdraft while preparing the Income and Expenditure Account and Balance sheet of a club?

It is the amount-paid to the person who is not the regular employee of the institution.

Outstanding Salaries for the current year is shown

A. In the Opening Balance Sheet, as an asset

B. In the Closing Balance Sheet, as an asset

C. In the Income and Expenditure A/c by adding to the expense 'salary'

D. In the Closing Balance Sheet, as a liability

Choose the correct answer form the options given below:

As per Receipts and Payments Account for the year ended on March 31, 2020, subscriptions received were Rs. 2,50,000 subscriptions outstanding on 1-04-2019 Rs. 50,000, Subscriptions received in advance as on 31-3-2020 are Rs. 30,000. Subscriptions for the year 2019-20 will be:

Extract of Receipt and Payment Account for the year ended on March 31, 2021 is given.

Calculate the amount of Stationery to be shown in Income and Expenditure A/c.

Payments for Stationery: Rs. 23,000

Additional Information:

Show the following information in financial statements of a Non-Profit Organisation

The main source of revenue for 'not for profit' organisation is: