Prepare a case Particular RS Particular RS. 1. The following are Balance Sheet and Income Statement of

Prepare a case Particular RS Particular RS.

 

Transcribed Image Text:

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 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

Answer rating: 100% (QA)

Balance Sheet as of January 1 2021 Assets Land Rs 180000 Building Rs 30000 Current Assets Cash Rs 132000 Debtors Rs 3900 Stock Rs 453900 Advances Rs 2... View the full answer