X Ltd. was incorporated on 1 April 2010 with an authorized capital of 20,000 equity shares of Rs.100 each to take over the running business of Y Ltd. from 1 January 2010. The following is the summarized profit and loss account for the year ended 31 December 2010.
| Particulars Don't use plagiarized sources. Get Your Custom Essay on the unit cost of sales was reduced by 10 in the post incorporation period as compare 618323 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! Just from $10/Page | ||
| Sales: 1 January 2010 to 31 March 2010 | 24,000 | |
| 1 April 2010 to 31 December 2010 | 76,000 | 1,00,000 |
| Cost of Sales | 64,000 | |
| Administrative Expenses | 7,072 | |
| Selling Commission | 3,500 | |
| Goodwill Written off | 800 | |
| Interest Paid to Vendors (Loan Repaid on 1 May 2010) | 1,492 | |
| Distribution Expenses (60% Variable) | 5,000 | |
| Preliminary Expenses Written off | 1,320 | |
| Debenture Interest | 1,280 | |
| Depreciation | 1,776 | |
| Director’s Fees | 400 | 86,640 |
| Profit | 13,360 |
The company deals with one type of product. The unit cost of sales was reduced by 10% in the post-incorporation period as compared to the pre-incorporation period. Apportion the net profit between pre-incorporation and post-incorporation periods showing the basis of apportionment.
part one For this assignment you are to to watch: Shattered Glass Write a two…
Standard Project - WebServers. Instruction attached. Need all requirements, you do not have to make…
Read classmates post and respond with 100 words:The International Categorization of Diseases, Tenth Revision, Clinical…
Most Americans have at least 1 issue that is most important to them. Economic issues…
For this assignment, you are the court intake processor at a federal court where you…
Use a standard outline format to lay out how you are going to write your…