Financial Accounting
FINANCIAL ACCOUNTING FOR MANAGEMENT
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6. I 7. J 8.
SANJAY INDUSTRIES LTD. Balance Sheet and Income Statement
The following is the trial balance bf Sanjay Industries Ltd. as on 31 st March 2006.
1.
2.
of Rs. 10 each)
Mal
IntE
Pre Further information
1. Outstanding rent amounted to Rs. 7,200 while outstanding salaries Rs. 8,100 at the end
Ca:
2. 3. 4. 5.
the year. Make a provision for doubtful debts amounting to Rs. 4,590. Stock on 31st March 2006 was valued at Rs. 7,92,000. Depreciate plant, & machinery @ 14% and furniture & fittings @18%. Amortise patents & trademarks @ 5%.
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CHAPTER
3
MEASUREMENT OF PROFIT AND FINANCIAL POSITiON:
III
CORPORATE ENTITIES
6. Provide for remuneration @ 10% of the net profits beftr:;ax. 7. Make a provision for income tax@ 35%. 8. The Board of Directors proposes a dividend @ 10% for the year ended 31 st March 2006 after transfer to General Reserve @ 5% of profit after tax. Required
.mana~erial
gts~~ ' 1 ~ cxYi:l @ "6 ;( O'IJ'-Yv ~ ~o I3\i'~ I rot.;vQ Required
..
6. 7. 8. 9. 10. 11.
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l1 .
......
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1. Prepare the following financial statements of Sangeeta Udhyog Ltd.: a. Profit and loss account for the year ended 31 st March 2006.
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b. Pn~fit and loss approprialion account for the year ended 31st March 2006. c. Balance sheet as on 31 st March 2006. 2.. Briefly comment upon the performance of the company.
PUSHPA ENGINEERING COMPANY LTD. Balance Sheet and Profit and Loss Account
}
The accountant of Pushpa Engineering Company Ltd. has prepared the following trial baJance of the company as 01131st March, 2006.
,
l,~~
..
tv ;
5
CHAPTER
3
MEASUREMENT OF PROFIT AND FINANCIAL POSITION:
III CORPORATE ENTITIES
t;'jA./l.i.. ~~iji;.
'\i,;\j.r~
~~~ bentures- secured General reserve Bank uvtlluldft-ABN Amro Sundry creditors Sales Rent Other
o
6. I 7. J 8.
SANJAY INDUSTRIES LTD. Balance Sheet and Income Statement
The following is the trial balance bf Sanjay Industries Ltd. as on 31 st March 2006.
1.
2.
of Rs. 10 each)
Mal
IntE
Pre Further information
1. Outstanding rent amounted to Rs. 7,200 while outstanding salaries Rs. 8,100 at the end
Ca:
2. 3. 4. 5.
the year. Make a provision for doubtful debts amounting to Rs. 4,590. Stock on 31st March 2006 was valued at Rs. 7,92,000. Depreciate plant, & machinery @ 14% and furniture & fittings @18%. Amortise patents & trademarks @ 5%.
.~
..
CHAPTER
3
MEASUREMENT OF PROFIT AND FINANCIAL POSITiON:
III
CORPORATE ENTITIES
6. Provide for remuneration @ 10% of the net profits beftr:;ax. 7. Make a provision for income tax@ 35%. 8. The Board of Directors proposes a dividend @ 10% for the year ended 31 st March 2006 after transfer to General Reserve @ 5% of profit after tax. Required
.mana~erial
gts~~ ' 1 ~ cxYi:l @ "6 ;( O'IJ'-Yv ~ ~o I3\i'~ I rot.;vQ Required
..
6. 7. 8. 9. 10. 11.
q
l1 .
......
~
1. Prepare the following financial statements of Sangeeta Udhyog Ltd.: a. Profit and loss account for the year ended 31 st March 2006.
;,
,?./
\ ")..,..'\::)0 0
~
cr\rC2
b. Pn~fit and loss approprialion account for the year ended 31st March 2006. c. Balance sheet as on 31 st March 2006. 2.. Briefly comment upon the performance of the company.
PUSHPA ENGINEERING COMPANY LTD. Balance Sheet and Profit and Loss Account
}
The accountant of Pushpa Engineering Company Ltd. has prepared the following trial baJance of the company as 01131st March, 2006.
,
l,~~
..
tv ;
5
CHAPTER
3
MEASUREMENT OF PROFIT AND FINANCIAL POSITION:
III CORPORATE ENTITIES
t;'jA./l.i.. ~~iji;.
'\i,;\j.r~
~~~ bentures- secured General reserve Bank uvtlluldft-ABN Amro Sundry creditors Sales Rent Other