1.
Second hand machinery worth ₹ 30,000 was purchased, it was repaired for ₹ 3,000 and installed by worker to whom ₹ 1,000 were paid as wages. The machinery should be capitalised for:
2.
Receipt of legacy should be treated as–
3.
Subscription received in advance is–
4.
Income and expenditure account shows a balance of:
5.
When the tournament expenses incurred are more than the tournament fund, then the excessive amount is–
6.
Donations received for a specific purpose–
7.
Receipts and payments account generally shows:
8.
The difference of the Receipts and Payment Account reveals–
9.
Receipts and Payment Account shows–
10.
If a sports fund is created, then sports expenses are transferred to–
11.
Life membership fees received–
12.
Subscriptions in arrears at the end are shown
13.
Interest received from Building Fund Investments should be–
14.
Non-profit organisation prepare–
15.
At the beginning of an accounting year, a club has ₹ 19,000 assets; ₹ 5000 liabilities; ₹1,800 debit balance of income and expenditure account, the opening capital fund is:
