Jasemine Company Ltd. was formed to take over a running business with effect from 1 April 2009. The company was incorporated on 1 August 2009, and the Certificate of Commencement of Business was received on 1 October 2009. The following profit and loss account has been prepared for the year ended 31 March 2010.
Profit and Loss Account for the Year Ended 31 March 2010
|
Particulars |
Particulars |
||
|
To Salaries |
1,20,000 |
By Gross Profit |
8,00,000 |
|
To Printing and |
12,000 |
b/f |
|
|
Stationery |
42,000 |
||
|
To Travelling |
40,000 |
||
|
Expenses |
94,500 |
||
|
To Advertisement |
66,000 |
||
|
To Miscellaneous Trade Expense To |
10,500 |
||
|
Rent (Office Building) |
28,000 |
||
|
To Electricity |
8,000 |
||
|
Charges |
40,000 |
||
|
To Director”s Fees To Bad Debts |
15,000 7,500 |
||
|
To Commission: Selling Agents To |
|||
|
Audit Fees To Debenture Interest |
10,500 |
||
|
To Interest Paid |
63,000 |
||
|
to Vendors |
24,000 |
||
|
To Selling Expenses |
2,19,000 |
||
|
To Depreciation on Fixed Assets To |
8,00,000 |
8,00,000 |
|
|
Net Profit c/f |
Additional information:
You are required to prepare the profit and loss account in columnar form showing distinctly the allocation of profits between pre-incorporation and post- incorporation periods, indicating the basis of allocation regarding each item.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
