Not-for-Profit

Accounting

Easy

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:

Rs. 1,85,000

Rs. 1,75,000

Rs. 3,45,000

Rs. 85,000

✅ Correct Option: 2

Surplus = Income - Expenditure. Hence Expenditure = Income - Surplus = 2,60,000 - 85,000 = Rs. 1,75,000.

Note: This is a Not-for-Profit Organisation item; we classified it under Partnership Accounting as the nearest available subtopic.

2022: 30 Aug Shift 2

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:

2022: 15 July Shift 2

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

2022: 30 Aug Shift 2

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

2024

Libraries run by charitable trusts are an example of:

2022: 15 July Shift 2

Identify the treatment of Government Grant received from the government from following:

2022: 15 July Shift 2

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

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:

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