Calculate Net Profit before Tax and Extraordinary Items of Premier Sales Ltd. from its Balance Sheet as at 31st March, 2019: 

ParticularsNote No.31st March, 2019
Amount (Rs.)
31st March, 2018
Amount (Rs.)
I. EQUITY AND LIABILITIES 
1. Shareholders’ Funds 
(a) Share Capital 5,00,0005,00,000
(b) Reserves and Surplus
(Surplus, i.e.,  Balance in Statement of Profit and Loss)
 2,00,0001,45,000
2. Current Liabilities 
(a) Trade Payables 90,00050,000
(b) Other Current Liabilities 20,00010,000
(c) Short-term Provisions150,00030,000
Total 8,60,0007,35,000
II. ASSETS 
1. Non-Current Assets 
(a) Fixed Assets 4,50,0004,00,000
(b) Non-Current Investments 50,0001,50,000
2. Current Assets 2,60,0001,85,000
Total 8,60,0007,35,000

Notes to Accounts

Particulars31st March, 2019
Amount ( Rs.)
31st March, 2018
Amount (Rs.)
I. Short-term Provisions
Provision for Tax50,00030,000

Additional Information:
(i) Proposed Dividend for the years ended 31st March, 2018 and 2019 are Rs. 50,000 and Rs. 75,000 respectively.
(ii) Interim Dividend paid during the year was Rs. 10,000.

SOLUTION


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