profit and loss statement for the year ended ………

dr cr.

PARTICULARS AMT PARTICULAR AMT

op.stock 72000 By sales 1200000To purchase 600000 By rent 24000Carriage on Purchase 25000 By commission 20000office expence 44000 120000Wages and Salary 120000Insurance 40000Audit fees 24000Printing 33000Interest on Loan 24000Unpaid Salary 20000depriciation 88800provisoin for tax 81960profit 191240

1172760 1364000

Working note1364000-1090800 273200

provision for taxation =273200*30%

1090800 Balance sheet as on ---------Liability amt. Assetsshare capital 500000 Fixed Assets 888000res 132000 Less: Depri 88800Add: 191240 323240

current Assets [ Inventory]Long term Loan 240000 Accounts ReceivablesAccounts Payable 125000 CashUnpaid salary 20000 bankProvision for taxation 81960

1290200

81960Balance sheet as on ---------

amt.

799200

120000280000

3600055000

1290200

Particulars Debit Credit

Purchase and sales 600000 1200000

Carriage on Purchase 25000

Wages and Salary 120000

office expence 44000Rent 24000Insurance 40000Audit Fees 24000Accounts Receivable/ payable 280000 125000Printing and Advertising 33000Commission 20000Opening Stock 72000Cash in hand 36000Cash at bank 55000Bank Loan 240000Interest On Loan 24000Share Capital 500000Reserves 132000Fixed Assets 888000

2241000 2241000

From the following information Prepare P& L Accounts And Balance sheet For the year ended March 31, 2015

1 stock at the end of the year 120 0002 Depriciate Fixed Assets by 10%3 Unpaid salary at the end of the year are 20 000 4 Tax rate is 30%

Name of the Company Working noteProfit and loss Statement for the year ended March 31, 2015

Amount Rupees 1. Cost of Materials Consumed Revenue From operation 1200000Other Income

Rent 24000Commission 20000 44000

Total Income [A] 1244000

ExpensesCost of Materials Consumed[1] 577000

wages and Salary 120000Unpaid salary 20000 140000Audit Fees 24000Depreciation 88800Other Expenses

Office Expense 44000Insurance 40000Printing 33000Interest on Loan 24000 141000

Total Expenses[B] 970800

273200Less: TAX @ 30% 81960Profit After Tax 191240

Profit Before TAX [A - B]

Working note

1. Cost of Materials Consumed

Op stock 72000Add: Purchase 600000Add: carriage on Purchase 25000

697000Less: Closing Stock 120000

577000

Name of the CompanyBalance sheet as on March 31, 2015

RupeesI.EQUITY AND LIABILITIESShareHolders' Fund

Share Capital 500000Reserves[2] 132000+ 191240 323240

Non- Current LiabilitiesBank Loan 240000

Current LiabilitiesTrade Payable 125000Unpaid Salary 20000Provision for Tax 81960

TOTAL 1290200

II. ASSETSFixed Assets

Tangible assts 888000Less: Depri. 88800 799200

Current AssetsInventories 120000Trade Receivable 280000Cash in Hand 36000Cash At Bank 55000

TOTAL 1290200