TREATMENT OF SPECIFIC FUND, It’s INVESTMENT, INCOME AND EXPENSES RELATED TO THEM

TOURNAMENT FUND, MATCH FUND, PRIZE FUND etc.

Specific funds are used for specific purposes. We have to show their treatment in the balance sheet in the following way depending upon the information given in question:

Let’s assumed that specific fund is tournament fund:-

  Balance Sheet of …………………..

Liabilities	Amount	Assets	Amount
Tournament Fund            xxx Add: Income received from Tournament or Tournament fund investment.              xxx Income O/s from Tournament or Tournament fund investment               xxx                                               Xxx Less: 1.     Tournament Expenses Paid                                   xxx 2.     O/s Tournament expenses                            xxx O/S tournament expenses	XXX XXX	Tournament fund Investment Income O/s from Tournament or Tournament fund investment	XXX XXX