why interest on general fund investment is shown in income side in income expenditure acc and intrest on sports fund investment is not
Solution:
Interest on general fund is not for any specific purpose that is why shown in income side of income and expenditure account whereas Interest on sports fund investment is for specific purpose shown in sports fund account and finally in balance sheet.
Interest received for specific funds are credited to these specific fund account only. And receipt that are not for specific purpose were shown in income side on I&E A/c.
Interest on general fund is not for any specific purpose that is why shown in income side of income and expenditure account whereas Interest on sports fund investment is for specific purpose shown in sports fund account and finally in balance sheet.
Interest received for specific funds are credited to these specific fund account only. And receipt that are not for specific purpose were shown in income side on I&E A/c.