Prepare a case Particular RS Particular RS.

 

1. The following are Balance Sheet and Income Statement of ABC ltd. Liabilities Share capital Profit & loss A/c Creditors Outstanding Expenses Provision for tax Prov. for Dep. on building Particular To Cost of sales To Wages & salaries To Gross profit c/d 01.01.21 31.12.21 To Operating Exp.. 1.80,000 75.900 1,20,000 12.000 6.000 60,000 2.22.000 Fixed 81.900 Assets: 1.17,000 Land 24.000 Building 6,600 66,000 4,53,900 5,17,500 RS Assets Current Assets: Cash Debtors Stock Advances 12,60,000 9.90,000 By Net sales 1.20,000 1.50.000 01.01.21 Information: Company sold building during the year, cost price of which was Rs. 36,000. Profit And Loss A/C For year ended 31.03.21 24,000 1,80,000 By Gross profit 30,000 84,000 1,32,000 3.900 4,53,900 Particular 31.12.21 48,000 2,88,000 36,000 93,000 48,000 4,500 5,17,500 RS 12,60,000 12,60,000