Study Material & Notes
Two types of Organizations – For Profit organization and Non-Profit Organization
Study Material & Notes
From building Fund to Capital Fund: Building Under Construction
Transfer from Building to Capital Fund (+) Capital Fund (-) Building Fund
If after adding incomes to fund, further donations received and deducting expenses, the fund shows debit balance, it is transferred i.e., shown on the Debit side of Income and Expenditure A/c
Study Material & Notes
Option-1 With formula
Consumable Items = Opening Stock + Purchases (Net) – Closing Stock
Opition-2 by drawing up ledger account
Study Material & Notes