Present the following items in the balance sheet of Rosy Club as at 31st March, 2022
Particulars (?)
Capital Fund (1st April, 2021) 11,40,000
Building Fund (1st April, 2021) 5,00,000
Donation received for building 7,00,000
10% Building Fund Investments (1st April, 2021) 3,50,000
Interest received on Building Fund Investments 35,000
Expenditure on construction of building ?2,40,000. The construction work is in progress and
has not yet been completed.
Solution:
Working Notes:
Calculation of Building funds:
| Liabilities | Amount(Rs.) | Assets | Amount(Rs.) |
|---|---|---|---|
| Capital fund Building fund |
11,40,000 9,95,000 |
Building Fund Investment (3,50,000 + 35,000) |
3,85,000 |
Working Notes:
Calculation of Building funds:
| Building funds (+) donation received (+) interest on the building fund (-) expenditure on construction |
5,00,000 7,00,000 35,000 (2,40,000) |
| 9.95,000 |