At the beginning of a year, the assets of a NPO are worth ₹20,000 while liabilities are ₹5,000. During the year there is debit balance of ₹5,000 in the Income and Expenditure account. How much amount is the accumulated fund at the end of the year?
Answer & explanation
Correct answer: option 1
Capital Fund in the beginning is 15000 (20000-5000)- Deficit in current year (debit balance means deficit) 5000= ₹10000