Multiple choice

Sports fund on 1.4.2014 was Rs. 15,000 and sports fund investment on 1.4.2014 in 10% deposit was Rs. 15,000 (only Rs. 1000 received during the year). Donations received during the year for sports events were Rs. 3000. Sports prize awarded was Rs. 3800. Expenses on sports events were Rs. 4500. What will be the amount of sports fund to be shown on the liabilities side of the balance sheet at the end of the year?

  1. Rs. 11,200

  2. Rs. 10,700

  3. Rs. 19,500

  4. Rs. 15,000

  5. Rs. 15,700
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A Correct answer
Explanation

Sports fund on 31.3.2015 = Sports fund in the beginning + Interest received + Interest receivable + Donation received - Prizes awarded - Expenses on events  = 15,000 + 1000 + 500 + 3000 - 3800 - 4500 = Rs. 11,200

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