| Particulars | Note No. | Amount (Rs.) |
| I. Revenue from Operations (Sales) | 5,98,000 | |
| II. Other Income | 1 | 19,500 |
| III. Total Revenue (I + II) | 6,17,500 | |
| IV. Expenses; | ||
| Cost of Materials Consumed | 4,00,000 | |
| Change in Inventories of Finished Goods and Work-in-Progress | 2 | 15,000 |
| Employee Benefit Expenses | 1,05,000 | |
| Depreciation and Amortisation Expenses | 15,000 | |
| Other Expenses | 3 | 20,000 |
| Total Expenses | 5,55,000 | |
| V. Profit before Tax (III − IV) | 62,500 | |
| VI. Tax @ 30% | 18,750 | |
| VII. Profit after Tax (V − VI) | 43,750 |
Notes to Accounts
| Particulars | Amount (Rs.) |
| 1. Other Income | |
| Rent | 15,000 |
| Gain (Profit) on Sale of Machinery | 2,500 |
| Interest on Debentures held as Investments | 2,000 |
| 19,500 | |
| Changes in Inventories of Finished Goods and Work-in-Progress | |
| (a) Finished Goods | |
| Opening Inventories | 37,500 |
| Less: Closing Inventories | 25,000 |
| Sub-Total | 12,500 |
| (b) Work-in-Progress | |
| Opening Inventories | 22,500 |
| Less: Closing Inventories | 20,000 |
| Sub-Total | 2,500 |
| Total (a + b) | 15,000 |
| 2. Other Expenses | |
| Office Expenses | 12,500 |
| Selling Expenses | 6,000 |
| Loss on Sale of Furniture | 1,500 |
| 20,000 |
Current Assets and Current Liabilities | As on 31st March, 2019 Amount (Rs.) | As on 1st April, 2018 Amount (Rs.) |
| Trade Receivables | 25,000 | 20,000 |
| Trade Payables | 32,500 | 35,000 |
| Outstanding Expenses | 8,000 | 5,000 |
| Prepaid Expenses | 5,000 | 3,500 |
SOLUTION
