Question 18 of 48
Q.
Compute Capital Fund of Salem Sports Club as on 1.4.2019.
| Particulars | ₹ | Particulars | ₹ |
|---|---|---|---|
| Sports equipment | 30,000 | Prize fund | 10,000 |
| Computer | 25,000 | Prize Fund Investments | 10,000 |
| Subscription outstanding for 2018-19 | 5,000 | Cash in Hand | 7,000 |
| Subscription received in advance for 2019-20 | 8,000 | Cash at Bank | 21,000 |
Puducherry TnboardTamil Nadu HSC (DGE) Commerce Board 2020Subjective· 3mImportance★★★★★
38% · 18/48 Questions
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Start your 14-day free trial to unlock the full solution →Capital fund = Total assets (98,000) - Total liabilities (18,000) = 80,000.
For a not-for-profit organisation in the Tamil Nadu HSC Accountancy syllabus, the capital fund is the excess of assets over liabilities, found by preparing a Statement of Affairs.
Statement of Affairs of Salem Sports Club as on 1.4.2019
| Liabilities | Rs. | Assets | Rs. |
|---|---|---|---|
| Prize fund | 10,000 | Sports equipment | 30,000 |
| Subscription received in advance (2019-20) | 8,000 | Computer | 25,000 |
| Capital fund (balancing figure) | 80,000 | Subscription outstanding (2018-19) | 5,000 |
| Prize fund investments | 10,000 | ||
| Cash in hand | 7,000 |
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