Financial Statements

Nature/Structure

Medium

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:

Rs. 10,000

Rs. (20,000)

Rs. (1,25,000)

Rs. (10,000)

✅ Correct Option: 4

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.

2025: 13 May Shift 1

Arrange the following under the heading Equities and Liabilities in balance sheet of a company.

(A) Non-current liabilities

(B) Current liabilities

(D) Share application money pending allotment

Choose the correct answer from the options given below:

2023: 20 June Shift 2

The closing value of Building as on 31.3.2017 was:

2025: 2 June Shift 2

Goods costing Rs.80,000/- were sold at a profit of 20% on sales. the amount of gross profit on this sales is.

2022: 30 Aug Shift 2

Match List I with List II

	LIST I: Major Head		LIST II: Sub Head
A.	Fixed assets	I.	Short term provisions
B.	Current Assets	II.	Money received against share warrants
C.	Current Liabilities	III.	Non current investment
D.	Shareholder's Funds	IV.	Inventories

Choose the correct answer from the options given below:

2025: 13 May Shift 1

Amount of Total Current Assets are:

2023: 20 June Shift 2

The total expenses on account of salary to be debited to Income and Expenditure A/c for the year 2016-17 was:

Solution