(i) Donation received for auditorium construction | Rs. 7,00,000 |
(Expected total cost of the auditorium Rs. 10,00,000) | |
(ii) Expenditure on construction of auditorium | Rs. 5,50,000 |
Answer:
Balance Sheet as at......
Liabilities Amt (Rs.) Assets Amt (Rs.) Capital Fund - Auditorium in Progress 5,50,000 (+) Transfer from Auditorium Fund 5,50,000 5,50,000 Auditorium Fund - (+) Donation Received 7,00,000 (-) Transfer to Capital Fund (5,50,000) 1,50,000
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