Show the following information in financial statements of a Non-Profit Organisation:
- A(Rs.) 30,000 will be shown in liability side of Balance Sheet.
- B(Rs.) 10,000 will be shown in liability side of Balance Sheet.
- C(Rs.) 10,000 will be shown in Income side of Income and Expenditure a/c.
- D(Rs.) 30,000 will be shown in Income & Expenditure a/c.
Solution & Step-by-step Explanation
Match Fund is a restricted/specific fund. Let's compute the total fund balance:
Now, we deduct the Match Expenses from this available fund balance:
Since the fund balance remains positive (), it will be displayed on the Liabilities side of the Balance Sheet.
Now, we deduct the Match Expenses from this available fund balance:
Since the fund balance remains positive (), it will be displayed on the Liabilities side of the Balance Sheet.