ParticularsClosing BalancesAmount (Rs.)Opening BalancesAmount (Rs.)Surplus, i.e., Balance in Statement of Profit and Loss65,00060,000Trade Receivables:Debtors67,0001,02,000Bills Receivable1,03,00062,000General Reserve2,37,0002,02,000Provision for Depreciation30,00020,000Outstanding Expenses12,00030,000Goodwill70,00080,000 An asset costing Rs. 40,000 having book value of Rs. 28,000 was sold for Rs. 36,000. SOLUTION
ParticularsNote No.Amount(Rs.)I. Revenue from Operations (Net Sales)30,00,000II. Other Income145,000III. Total Revenue (I + II)30,45,000IV. Expenses;(a) Purchases of Stock-in-Trade23,03,000(b) Change in Inventories of Stock-in-Trade2(16,000)(c) Depreciation and Amortisation Expenses1,85,000(d) Other Expenses33,29,000Total Expenses28,01,000V. Profit before Tax (III…
Particular31st March 2017 Amount (Rs.)Net Profit (Difference between Closing and Opening Balance of Surplus, i.e., Balance in Statement of Profit and Loss)8,00,000Final Dividend paid in the year1,10,000Compensation for Natural Disaster credited…
Particulars31st March, 2019Amount (Rs.)31st March, 2018Amount (Rs.)Inventories1,15,0001,25,000Trade Receivables1,50,0001,10,000Prepaid Expenses20,0006,000Trade Payables1,10,00080,000Provision for Tax20,00015,000 Depreciation charged on Plant and Machinery Rs. 55,000, insurance claim received Rs. 50,000, gain (profit) on sale of…
(i) Profit forms the year is Rs. 7,00,000 after considering the following items: ParticularsAmount(Rs.)Depreciation on Fixed Assets40,000Goodwill Amortised20,000Gain on Sale of Land90,000Appropriation of Profit towards General Reserve60,000 (ii) Following is the position of Current…
ParticularsAmount(Rs.)Net Profit after Provision for Tax and Payment of Dividend2,15,000Provision for Tax45,000Final Dividend paid during the year50,000Depreciation25,000Loss on Sale of Machinery10,000Patents Amortised30,000Gain on Sale of Land70,000Income Tax Refund30,000 SOLUTION
Particulars31st March, 2019Amount (Rs.)31st March, 2018Amount (Rs.)Surplus, i.e., Balance in Statement of Profit and Loss80,00060,000Trade Receivables25,00031,000Provision for Depreciation40,00030,000Inventories80,00060,000Outstanding Rent12,00021,000Goodwill30,00038,000Prepaid Insurance1,0002,000Trade Payables (Creditors)13,00019,000 SOLUTION
ParticularsNote No.31st March, 2019Amount (Rs.)31st March, 2018Amount (Rs.)I. EQUITY AND LIABILITIES 1. Shareholders' Funds (a) Share Capital 5,00,0005,00,000(b) Reserves and Surplus16,70,0005,00,0002. Current Liabilities (a) Trade Payables 60,00050,000(b) Other Current Liabilities (Outstanding Expenses) 20,00015,000(c) Short-term Provisions (Provision…
ParticularsAmount(Rs.)Net Profit before Tax and Extraordinary Items4,47,000Depreciation on Machinery84,000Interest on Borrowings16,800Goodwill Amortised18,600Loss on Sale of Furniture18,000Premium on Redemption of Preference Shares6,000Gain (Profit) on Sale of Investments12,000Interest and Dividend Received on Investments27,600…