Not-for-Profit

Accounting

Medium

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

Detail Amount (Rs.)
Match Fund 20,000
Match Expenses 30,000
Donation for match fund 15,000
Sale of match ticket 5,000

Detail	Amount (Rs.)
Match Fund	20,000
Match Expenses	30,000
Donation for match fund	15,000
Sale of match ticket	5,000

(Rs.) 30,000 will be shown in liability side of Balance Sheet.

(Rs.) 10,000 will be shown in liability side of Balance Sheet.

(Rs.) 10,000 will be shown in Income side of Income and Expenditure a/c.

(Rs.) 30,000 will be shown in Income & Expenditure a/c.

✅ Correct Option: 2

Total Match Fund = Opening Match Fund + Donation for Match Fund + Sale of match tickets

$= 20{,}000 + 15{,}000 + 5{,}000 = 40{,}000$ .

Less: Match Expenses $30{,}000$ .

Balance Match Fund = $40{,}000 - 30{,}000 = 10{,}000$ , shown on the liabilities side of the Balance Sheet.

2024

Libraries run by charitable trusts are an example of:

2022: 20 Aug Shift 2

If the total income earned by Saket Club, a Not-for-Profit organisation is Rs. 2,60,000 and surplus earned is Rs. 85,000, then total expenditure incurred will be:

2022: 15 July Shift 2

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

2022: 20 Aug Shift 2

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:

	1 April, 2020	31 Mar 2021
Stock of Stationary	4,000	3,000
Creditors for stationery	9,000	2,500

2024

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

2022: 30 Aug Shift 2

Identify the steps in preparation of final accounts of not for profit organisation (NPO)

A. Prepare Balance Sheet of NPO

B. Prepare Income and Expenditure Account from Receipts and payment Account

C. Prepare Receipts and payment Account

D. Adjust outstanding/prepaid expenditure/Income and determine surplus/ Deficit

E. Prepare cash book

Choose the correct answer from the options given below:

Show the following information in financial statements of a Non-Profit Organisation DetailAmount (Rs.)Match Fund20,000Match Expenses30,000Donation for match fund15,000Sale of match ticket5,000

Solution

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CUET Accountancy Past Year Questions (Topic-Wise)

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

Detail Amount (Rs.)
Match Fund 20,000
Match Expenses 30,000
Donation for match fund 15,000
Sale of match ticket 5,000