Financial Statements Of Non-Profit Organization CBSE Questions & Answers

Manik has instituted a separate fund of Rs.100000 in a school. The school kept the funds in a separate bank account out of which it withdrew money every year and spent it on the sports activities. The fund had a balance of Rs.15000 as on 31st March 2012 it spent Rs.17500 in organizing the sports events. How much amount to be debited to sports fund

Manik has instituted a separate fund of Rs.100000 in a school. The school kept the funds in a separate bank account out of which it withdrew money every year and spent it on the sports activities. The fund had a balance of Rs.15000 as on 31st March 2012 it spent Rs.17500 in organizing the sports events. How will you show account of expenses

On 1st April 2011 a club owned a building valued at Rs.200000, computer Rs.45000, furniture Rs.30000 and cash balance of Rs.2000. Subscription and salaries due on that date were Rs.1000 and Rs.2000. State the amount of capital fund on

Expenditure on construction of Pavilion is Rs.600000. The construction work is in progress and has not yet completed. Pavilion fund as at 31st March 2011 is Rs.1000000 and Capital fund as at 31st March 2011 is Rs.2000000. Calculate the amount to be shown on liability side as Pavilion fund

Expenditure on construction of Pavilion is Rs.600000. The construction work is in progress and has not yet completed. Pavilion fund as at 31st March 2011 is Rs. 1000000 and Capital fund as at 31st March 2011 is Rs. 2000000.Amoun to be shown on income and expenditure account

A non-profit organization received Rs.10,000 as the entrance fee of a new member. If 20% of the fee has to be capitalized, what is the amount of fee needs to be shown in the income and expenditure account?

Rs.10,000 received as the annual membership subscription. Out of this, Rs.2000 is pertaining to the previous accounting period whereas Rs.1000 is receivable at the end of the current accounting period. Calculate the amount of subscription that will be shown in the income and expenditure account for this accounting

A nongovernmental not-for-profit organization received a Rs.2 000000 gift from a donor who specified it be used to create an endowment fund that would be invested in perpetuity. The income from the fund is to be used to support a specific program in the second year and beyond. An investment purchased with the gift earned Rs.40,000 during the first year. At the end of the first year, the fair value of the investment was Rs.2,010,000. What is the net effect on temporarily restricted net assets at year end?

During the current year, the Finn Foundation, a nongovernmental not-for-profit organization, received a Rs.1,000,000 permanent endowment from Chris. Chris stipulated that the income must be used to provide recreational activities for the elderly. The endowment reported income of Rs.80,000 in the current year. What amount of permanently restricted contribution revenue should Finn report at the end of the current year?

Fina Museum, a nongovernmental not-for-profit organization, had the following balances in its statement of functional expenses: Education Rs.300,000, Fundraising Rs.250,000, Management and general Rs.200,000, Research Rs.50,000 what amount should Fina report as expenses for support services?

On the basis of the following information, calculate the amount of stationery to be debited Income and Expenditure Account for the year on March 31, 2011. Calculate amount of stationery used during 2010-2011

Calculate the amount of subscription to be credited to Income & Expenditure a/c for the yr. 2007-08- Subscription received during 2007-08 - Rs.50,000, Subscription outstanding on 31-3-08 8,000, Subscription outstanding on 1-04-07 - Rs. 6,000

Ascertain the amount of salary chargeable to Income & Expenditure A/c for 2006-07 Rs- Total salaries paid in 2006-07: Rs.10,200, prepaid salaries on 31-3-2006: Rs.1,200, Prepaid salaries on 31-3-2007: Rs. 600, Outstanding salaries on 31-3-2006: Rs.900, Outstanding salaries on 31-3-2007: Rs.750

From the following calculate the subscription for the current year: Outstanding Subscription 1.1.2012: Rs.9500, Outstanding Subscription on 31.12.2012: Rs.10000, Subscription received in advance on 1.1.2012: Rs.6200, Subscription received in advance 31.12.2012: Rs.8700, Subscription received during the year 2012 Rs.2, 50,000

Calculate the sports material to be debited to Income & Expenditure a/c. For the yr. ended 31-3-2007 on the basis of the following information. Amount paid for sports material during the yr. was Rs.19, 000