Prepare the Balance Sheet of Ocean Blue club based on following information: Furniture (before depreciation) Depreciation on furniture Building fund Income from building fund Fixed deposits Opening General fund Excess of income over expenditure Opening balance of capital fund Cost of swimming pool Equipments Investment of general fund Subscription outstanding 8,000 Outstanding consultancy 800 Allowances outstanding 30,000 Capital Grants 2,000 Entrance fees (50% be funded) 20,000 Legacies received (funded) 10,000 Prize fund 20,000 Income of prize fund 60,000 Expenses of prize fund 40,000 Investment of prize fund 20,000 Balance in current A/c 36,000 Cash in hand 10,000 $ 1,000 800 10,000 4,000 8,000 10,000 1,000 800 10,000 10,000 800

Prepare the Balance Sheet of Ocean Blue club based on following information: Furniture (before depreciation) Depreciation on furniture Building fund Income from building fund Fixed deposits Opening General fund Excess of income over expenditure Opening balance of capital fund Cost of swimming pool Equipments Investment of general fund Subscription outstanding 8,000 Outstanding consultancy 800 Allowances outstanding 30,000 Capital Grants 2,000 Entrance fees (50% be funded) 20,000 Legacies received (funded) 10,000 Prize fund 20,000 Income of prize fund 60,000 Expenses of prize fund 40,000 Investment of prize fund 20,000 Balance in current A/c 36,000 Cash in hand 10,000 $ 1,000 800 10,000 4,000 8,000 10,000 1,000 800 10,000 10,000 800

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section: Chapter Questions

Problem 1CP

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How will you show the following in the Ballance Sheet of a Club? Donation for Building Special Contribution for Computer Lab Sports Fund Sports Expenses Sports Fund Investments ₹ 25,00,000 10,90,000 5.00.000 120.000 5,00,000 [Ans. On Liabilities side: Donation for Building Special contribution for Computer Lab and Sports Fund 3,80,000. On Assets side: Sports Fund Investments.]
Required information [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Debits Adjustments: $ 29,400 53,000 VILLAGE OF SEASIDE PINES ENTERPRISE FUND Reconciliation of Operating Income to Net Cash Provided by Operating Activities For the year ended December 31, 2024 722,000 98,000 504,000 51,000 17,700 40,900 19,700 $ 1,535,700 Credits $ 112,000 32,600 51,000…
! Required information [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Required A Required B Complete this question by entering your answers in the tabs below. Required C VILLAGE OF SEASIDE PINES ENTERPRISE FUND Statement of Net Position December 31, 2024 Net Position: Net Investment in Capital Assets Unrestricted Total Net Position Debits Required: a.…
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