Sathvahana Ispat Ltd is a listed company in iron and steel industry, engaged in the manufacture and
Question:
Sathvahana Ispat Ltd is a listed company in iron and steel industry, engaged in the manufacture and sale of pig iron, ductile iron pipes, and also metallurgical coke – an input material for pig iron. Below is the profit and loss account for the year ended March 31, 2015. The employee benefit expenses relate to direct and indirect in ratio of 60 : 40. Please prepare the manufacturing account out of the following Notes to Statement of Profit and Loss A/c.
Transcribed Image Text:
21 Sale of Services: Job work services Notes to Statement of Profit and Loss 22 Other Operating Income: Sale of scrap arising out of manufacturing process 23 Other Income: (g) ₹ ₹ (a) Interest income ₹ (b) Dividend income from long-term non-trade investments र (c) Profit on sale of long term investments ऱ (d) Sale of other scrap ₹ (e) Provision for liabilities no longer required written back ₹ Provision for doubtful debts no longer required written ₹ back (f) Provision for doubtful advances no longer required written ₹ back For the year ended 31st March 2015 0 13454 46417058 5198 88782 3753181 0 3695562 5750000 For the year ended 31st March 2014 815181 6644 69530673 73292 17570 12581079 125761 357627 18851
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
To prepare the manufacturing account for Sathvahana Ispat Ltd for the year ended March 31 2015 we will need to consider only the expenses and incomes that are directly related to the manufacturing pro...View the full answer
Answered By
Akshay Agarwal
I am a Post-Graduate with a specialization in Finance. I have been working in the Consulting industry for the past 8 years with a focus on the Corporate and Investment Banking domain. Additionally, I have been involved in supporting student across the globe in their academic assignments and always strive to provide high quality support in a timely manner. My notable achievements in the academic field includes serving more than 10,000 clients across geographies on various courses including Accountancy, Finance, Management among other subjects. I always strive to serve my clients in the best possible way ensuring high quality and well explained solutions, which ensures high grades for the students along-with ensuring complete understanding of the subject matter for them. Further, I also believe in making myself available to the students for any follow-ups and ensures complete support and cooperation throughout the project cycle. My passion in the academic field coupled with my educational qualification and industry experience has proved to be instrumental in my success and has helped me stand out of the rest. Looking forward to have a fruitful experience and a cordial working relationship.
5.00+
179+ Reviews
294+ Question Solved
Related Book For
Financial Accounting For Management
ISBN: 9789385965661
4th Edition
Authors: Neelakantan Ramachandran, Ram Kumar Kakani
Question Posted:
Students also viewed these Business questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
For the purposes of this assignment, you are to imagine that you work as Audit Manager for a company called Amazing Accountants. Your new audit client is a listed company in Australian or Singapore...
-
A) Boafo Ltd is a listed company that supplies packaging material to a large domestic client based in Accra. In the year ended 31st December 2017, the company began selling its products to a...
-
The object is used to execute a static Oracle query, but the object is used to execute a dynamic Oracle query with IN and OUT parameters. a. PreparedStatement, Statement b. Statement,...
-
Find the binding energy of a 23292U nucleus in MeV if the mass of the neutral U atom is 232.037131 u.
-
The following direct materials variance analysis was performed for Jackson. Requirements 1. Record Jacksons direct materials journal entries. Assume purchases were made on account. 2. Explain what...
-
Choose an appropriate closed system and draw a bar diagram representing the energy conversions and transfers that occur during each process of Checkpoint 7.9: (a) a ball launching as the compressed...
-
The personnel department at LastCall Enterprises handles many administrative tasks for the two divisions that make up LastCall: LaidBack and StressedOut. LaidBack division manages the companys...
-
_____ redirects a user from a legitimate website to a malicious website by changing hosts files on a DNS server. A. Exploitation framework B. ARP poisoning C. DDoS DNS attack D. DNS...
-
State whether the following statement are True or False: In scenarios of falling prices for Raw Materials, the FIFO method would show a higher profit than the LIFO method.
-
Abdullah is happy with the development all around. Dubai was rocking. A camel ride to a Mercedes ride in a thirty years life-span has made most of the economists to think on all the well-established...
-
Ascend, a publicly held corporation, currently pays its president an annual salary of $900,000. As a means of increasing company profitability, the board of directors increased the presidents...
-
30) The fixed costs of operating the maintenance facility of General Hospital are $4,500,000 annually. Variable costs are incurred at the rate of $30 per maintenance-hour. The facility averages...
-
Prewriting Activities You have read about the writing process in an academic setting. You have also thought about the process itself and the stages of brainstorming, outlining and writing, editing...
-
EXPLAIN HOW A CONSUMPTION SUBSIDY LOOKS IN A GRAPH OF A SMALL COUNTRY AND A LARGE COUNTRY. Include the effects the subsidy has on world price, home price, export quantity, production surplus,...
-
1. Sketch indifference curves for each of the following consumers for a days worth of coffee and food, and describe why the indifference curves take the shape they do. Draw the indifference curves as...
-
Mortgage Loan with Blended, Equal Monthly Payments at Belair Ltd. On November 1, 2018, Belair Ltd. purchased land in Kamloops, B.C. for CAD 8,000,000. The land is being used to construct a new...
-
Yale University graduate student J. Kiley Hamlin conducted an experiment in which 16 ten-month-old babies were asked to watch a climber character attempt to ascend a hill. On two occasions, the baby...
-
The diagram shows the two forces acting on a small object. Which of the following is the resultant force on the object? A. 8 N downwards B. 8 N upwards C. 2 N downwards D. 2 N upwards 3 N 5 N
-
Dow Chemical Company provides chemical, plastic, and agricultural products and services to various consumer markets. The following excerpt is taken from the disclosure notes of Dows annual report....
-
Selected financial data regarding current assets and current liabilities for Queens Line, a competitor in the cruise line industry, is provided: ($ in millions) Current assets: Cash and cash...
-
Caribbean Tours total payroll for the month of January was $600,000. The following withholdings, fringe benefits, and payroll taxes apply: Federal and state income tax withheld ..................
-
Labor rates typically refer to a business's Group of answer choices Hourly or salaried wages paid to employees. Costs incurred for training and development programs. Expense on employee benefits and...
-
RELEVANT KEYWORDS FOR SEO & SEM Please present a list of at least 20 keywords (individual keywords as well as long-tail/short phrases) that will need to be considering in setting this brand's SEO and...
-
Business and Personal Ethics: . What is our responsibility to create a fair, just and equitable society? How committed are we? This topic will explore the impact of our lifestyle, and the...
Study smarter with the SolutionInn App