Based on the following information, select the amount that is to be shown in the Balance Sheet of a Not-for-Profit organisation.
| Details | ₹ |
| Match Expenses | 16,000 |
| Match Fund | 8,000 |
| Donation for Match Fund | 5,000 |
| Sale of Match tickers | 1,000 |
Answer & explanation
Correct answer: option 3
The correct answer is option 3- No effect on Balance Sheet.
Match fund = 8,000
Add: Donation = 5,000
Add: income from sale of ticket = 1,000
Less: match expense = 16,000
= (8,000 + 5,000 + 1,000 - 16,000)
= (-2000)
As the figure is -2000, it will be shown on the debit side of income and expenditure account. Thus, there will no effect on balance sheet.