[ISC] Q 17 Non-Trading Organisation Solution TS Grewal Class 11 (2023-24)

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Solution of Question number 17 Non Trading Organisation (NPO) Chapter TS Grewal class 11 ISC Board for 2023-24 Session?

How will be the following shown in the final accounts of a sports club for the year ended 31st March, 2023?

Receipts & Payments Account for the year ended 31st March, 2023

ReceiptsPayments
To Sale of Sports Materials
(Book value ₹ 20,000)
26,000By Creditors for Sports Materials
By Cash purchase of Sports Materials
61,000

10,000

Additional Information:

As at 31st March,
2022 (₹)
As at 31st March,
2023 (₹)
Sports Materials
Creditors for Sports Materials
20,000
7,000
25,000
15,000

Solution:-

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