STATEMENT OF PROFIT AND LOSS
for the year ended 31st March, 2019
Particulars | Note No. | Amount (Rs.) |
I. Revenue from Operations (Net Sales) | 36,00,000 | |
II. Expenses | ||
Purchases of Stock-in-Trade | 28,16,000 | |
Change in Inventories of Stock-in-Trade | (65,000) | |
Finance Costs | 15,000 | |
Depreciation and Amortisation Expenses | 80,000 | |
Other Expenses | 5,34,000 | |
Total | 33,80,000 | |
III. Profit before Tax (I − II) | 2,20,000 | |
IV. Less: Provision for Tax | 40,000 | |
V. Profit after Tax (III − IV) | 1,80,000 |
BALANCE SHEET
as at 31st March, 2019
Particulars | Note No. | 31st March, 2019 Amount (Rs.) | 31st March, 2018 Amount(Rs.) |
I. EQUITY AND LIABILITIES | |||
1. Shareholders’ Funds | |||
(a) Share Capital | 6,00,000 | 5,00,000 | |
(b) Reserves and Surplus | 1 | 3,00,000 | 1,20,000 |
2. Non-Current Liabilities | |||
Long-term Loan | 1,20,000 | 1,50,000 | |
3. Current Liabilities | |||
(a) Short-term Borrowings: Bank Overdraft | 13,000 | … | |
(b) Trade Payables (Creditors) | 2,85,000 | 2,38,000 | |
(c) Short-term Provision: Provision form Tax | 44,000 | 30,000 | |
Total | 13,62,000 | 10,38,000 | |
II. ASSETS | |||
1. Non-Current Assets | |||
Fixed Assets | 6,20,000 | 4,00,000 | |
2. Current Assets | |||
(a) Short-term Investments (Marketable Security) | 34,000 | 20,000 | |
(b) Inventories | 3,28,000 | 2,63,000 | |
(c) Trade Receivables | 3,48,000 | 3,10,000 | |
(d) Cash and Cash Equivalents | 2 | 32,000 | 45,000 |
Total | 13,62,000 | 10,38,000 |
Notes to Accounts
Particulars | 31st March, 2019 Amount (Rs.) | 31st March, 2018 Amount (Rs.) |
1. Reserves and Surplus | ||
Surplus, i.e., Balance in Statement of Profit and Loss | 3,00,000 | 1,20,000 |
2. Cash and Cash Equivalents | ||
Cash in Hand | 32,000 | 17,000 |
Cash at Bank | … | 28,000 |
32,000 | 45,000 |
SOLUTION