1.

Show how are the following items dealt with while preparing the final accounts for the year ended 31st March, 2019 of a Not-for-profit Organisation:Case IExpenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Capital Fund as at 31st March, 2018 is ₹ 20,00,000.Case IIExpenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March, 2018 is ₹ 10,00,000 and Capital Fund as at 31st March, 2018 is ₹ 20,00,000.Case IIIExpenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March, 2018 is ₹ 10,00,000, and Capital Fund as at 31st March, 2018 is ₹ 20,00,000. Donation Received for Pavilion on 1st January, 2019 is ₹ 5,00,000.

Answer» Show how are the following items dealt with while preparing the final accounts for the year ended 31st March, 2019 of a Not-for-profit Organisation:

Case I

Expenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Capital Fund as at 31st March, 2018 is ₹ 20,00,000.

Case II

Expenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March, 2018 is ₹ 10,00,000 and Capital Fund as at 31st March, 2018 is ₹ 20,00,000.

Case III

Expenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March, 2018 is ₹ 10,00,000, and Capital Fund as at 31st March, 2018 is ₹ 20,00,000. Donation Received for Pavilion on 1st January, 2019 is ₹ 5,00,000.


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