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.
The difference of the Receipts and Payment Account reveals–
3.
Life membership fees received–
4.
Subscription received in advance is–
5.
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:
6.
Receipt of legacy should be treated as–
7.
Non-profit organisation prepare–
8.
Interest received from Building Fund Investments should be–
9.
If a sports fund is created, then sports expenses are transferred to–
10.
Income and expenditure account shows a balance of:
11.
Donations received for a specific purpose–
12.
Receipts and payments account generally shows:
13.
When the tournament expenses incurred are more than the tournament fund, then the excessive amount is–
14.
Subscriptions in arrears at the end are shown
15.
Receipts and Payment Account shows–
