The following data were provided by the accounting records of X Ltd. as the year ended on 31 March 2011:
|
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the following data were provided by the accounting records of x ltd as the year ende 609934
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|
|
|
Sales |
40,00,000 |
|
Cost of Goods Sold |
(24,00,000) |
|
Gross Profit |
16,00,000 |
|
Operating Expenses |
(2,00,000) |
|
(Including Depreciation) |
|
|
Indirect Expenses Paid |
(1,20,000) |
|
Interest Income Received |
40,000 |
|
Gain on Sale of Investments |
60,000 |
|
Loss on Sale of Plant |
(20,000) |
|
Net Profit Before Tax |
7,60,000 |
|
Provision for Income Tax |
(2,80,000) |
|
Net Profit After Tax |
4,80,000 |
Balance Sheets
|
Assets |
As on 31 March 2011 Rs. |
As on 31 March 2010 Rs. |
|
Plant |
28,00,000 |
20,00,000 |
|
Less: Accumulated Depreciation |
(4,00,000) |
(3,20,000) |
|
24,00,000 |
16,80,000 |
|
|
Investment (Long-term) |
4,00,000 |
6,40,000 |
|
Inventory |
6,00,000 |
4,40,000 |
|
Accounts Receivable |
1,80,000 |
2,20,000 |
|
Cash at Bank |
2,00,000 |
1,80,000 |
|
37,80,000 |
31,60,000 |
|
|
Liabilities |
Rs. |
Rs. |
|
Equity Share Capital |
16,00,000 |
8,00,000 |
|
Securities Premium |
80,000 |
– |
|
General Reserve |
6,00,000 |
5,20,000 |
|
P & L A/c |
1,40,000 |
32,000 |
|
Debentures |
10,00,000 |
14,00,000 |
|
Accounts Payable |
2,40,000 |
2,08,000 |
|
Provision for Tax |
1,20,000 |
2,00,000 |
|
37,80,000 |
31,60,000 |
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