NPO Financials Questions

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

Locker Rent Received during the year by a club is $\text{Rs. }17,050$. Locker rent $\text{Rs. }3,050$ outstanding for the previous year and $\text{Rs. }1,500$ outstanding for the current year.The amount to be shown in Income and Expenditure is:

Outstanding Salaries for the current year is shown:A. In the Opening Balance Sheet, as an assetB. In the Closing Balance Sheet, as an assetC. In the Income and Expenditure A/c by adding to the expense 'salary'D. In the Closing Balance Sheet, as a liabilityChoose the correct answer from the options given below: