Company Final Accounts PDF

I. P. C. C.
- ACCOUNTANCY
J. K. SHAH CLASSES
CHAPTER-2
COMPANY FINAL ACCOUNTS
Ans.1.
Raul Ltd.
Balance Sheet as at 31 March, 20XX
Particulars
Note No.
A EQUITY AND LIABILITIES

1 Shareholders funds
(a) Share capital
(b) Reserves and surplus
(c) Money received against share warrants
2 Share application money pending allotment
3 Non-current liabilities
(a) Long-term borrowings
(b) Deferred tax liabilities (net)
(c) Other long-term liabilities
(d) Long-term provisions
4 Current liabilities
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short-term provisions
TOTAL
B ASSETS
1 Non-Current Assets
(a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long-term loans and advances
(e) Other non-current assets
2 Current Assets
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short-term loans and advances
(f) Other current assets
TOTAL
: 6 :
As at 31 March, 20XX As at 31 March, 20XX
2,00,000
1,57,000
------1,00,000
------------25,000
11,000
53,000
5,46,000
4,40,000
------------------------45,000
46,000
15,000
------5,46,000
I. P. C. C.- ACCOUNTANCY
J. K. SHAH CLASSES
Raul Ltd
Statement of Profit and Loss for the year ended 31 March, 20XX
" For the year ended "For the year ended
Particulars
Note No.
1 Revenue from operations
31 March, 20XX "
31 March, 20XX"
3,50,000
2 Other income
----
3 Total revenue
3,50,000
4 Expenses
(a) Cost of materials consumed
----
(b) Purchases of stock-in-trade
1,50,000
(c) Changes in inventories of finished goods,

work-in-progress and stock-in-trade
(d) Employee benefits expense
0
----
(e) Finance costs
10,000
(f) Depreciation and amortisation expense
38,000
(g) Other expenses
75,000
Total expenses
2,73,000
5 Profit / (Loss) before exceptional and

77,000
extraordinary items and tax (3 - 4)

6 Exceptional items
1,000
7 Profit / (Loss) before extraordinary items and tax
78,000
----
8 Extraordinary items
78,000
9 Profit / (Loss) before tax
10 Tax expense:
(a) Current tax expense
30,000
11 Profit for the period (PAT)
48,000
: 7 :
J. K. SHAH CLASSES
Raul Ltd.
Notes attached to and forming part of Accounts

Particulars
31st March 20XX 31st March 20XX
Note : 1 Share Capital

Authorised Capital
30,000 Equity shares of ` 10/- each
3,00,000
3,00,000
Issued, Subscribed and paid-up

20,000 Equity shares of ` 10/- each, fully paid up
2,00,000
(out of Above, 5000 Equity shares are issued as Bonus)

Reconciliation of Number of Shares
Shares at the beginning
15,000
Add: Issued during the year
5,000
Shares at the end
20,000
Total
2,00,000
Note : 2 Reserves and Surplus

Securities Premium
20,000
Less: Utilised for Bonus
20,000
Revaluation Reserve
----
----
Add: Transfer during the year
70,000
General Reserve
66,000
Less: Utilised for Bonus
30,000
15,000
70,000
51,000
Surplus
Surplus as at the beginning
35,000
Add: Profit for the period
48,000
Less: Transfer to General Reserve
-15,000
Less: Proposed Interim Dividend
-9,000
Less: Proposed Equity Dividend (including DDT @ 15%)

Total
-23,000
36,000
1,57,000
Note : 3 Long Term Borrowings

10% Debentures
1,00,000
(secured against Plant and Machinery)

Total
: 8 :
1,00,000
J. K. SHAH CLASSES
Note: 4 Trade payables
Creditors
25,000
Total
25,000
Note: 5 Other Current Liabilities

Interest on Debentures outstanding
5,000
TDS payable
6,000
Total
11,000
Note : 6 Short Term Provisions

Proposed Equity Dividend
23,000
Provision for Tax
30,000
Total
53,000
Note : 7 Tangible Assets

Land (1,10,000 + 70,000)
1,80,000
Plant and Machinery at Cost
3,80,000
Less: Provision for Depreciation
1,20,000
Total
2,60,000
4,40,000
Note : 8 Inventories
Closing Stock
45,000
Total
45,000
Note : 9 Trade Receivables

Debtors
Due for more than six months
6,000
Other debts
40,000
Total
46,000
46,000
Note : 10 Cash and Cash Equivalents

Cash and Bank
15,000
Total
15,000
Note : 11 Finance Cost

Interest on Debentures
5,000
Add: Outstanding
5,000
Total
10,000
10,000
Note : 12 Other Expenses

Factory Expenses
40,000
Administration Expenses
15,000
Selling Expenses
20,000
Total
75,000
Note : 13 Exceptional Items

Profit on Sale of Machinery
1,000
Total
: 9 :
1,000
J. K. SHAH CLASSES
Existing number of Shares 15,000
Therefore Bonus shares issued 5,000
Bonus Amount ` 50,000
Journal Entry
Securities Premium A/c
Dr.
20,000
General Reserve A/c
Dr.
30,000
To Bonus to Equity Shareholders
50,000
Bonus to Equity Shareholders
Dr.
50,000
To Equity share capital
50,000
Ans.2.
Zidane Ltd.
Particulars
Note No.
`
(a) Share capital
5,00,000
2,76,000
----
----
----
----
----
----
----
(b) Trade payables
20,000
1,11,000
56,000
TOTAL
9,63,000
B ASSETS
1 Non-current Assets
(a) Fixed assets
(i) Tangible assets
5,41,000
----
----
----
: 10 :
J. K. SHAH CLASSES
2,45,000
----
----
----
2 Current Assets
----
(b) Inventories
50,000
75,000
32,000
16,000
4,000
TOTAL
9,63,000
Zidane Ltd.
Particulars
Note No. "For the year ended "For the year ended
31 March, 20XX"
31 March, 20XX
Revenue from operations
1,80,000
Other income
4,000
Total revenue
1,84,000
Expenses
----
----

20,000
(e) Finance costs
6,000
29,000
(g) Other expenses
33,000
Total expenses
----
88,000
Profit / (Loss) before exceptional and

96,000
Exceptional items
-4,000
Profit / (Loss) before extraordinary items and tax
92,000
Extraordinary items
Profit / (Loss) before tax
---92,000
10 Tax expense:
10,000
82,000
: 11 :
J. K. SHAH CLASSES
Zidane Ltd.

Particulars

Authorised Capital
1,00,000 Equity shares of ` 10/- each
10,00,000
10,00,000

50,000 Equity shares of ` 10/- each, fully paid up
5,00,000
(out of Above, 20,000 Equity shares are issued for

consideration other than cash)
Reconciliation of Number of Shares
30,000
20,000
Shares at the end
50,000
Total
5,00,000

Securities Premium
50,000
General Reserve
1,80,000
Surplus
10,000
82,000
46,000
Total
46,000
2,76,000
Note: 3 Trade Payables

Creditors
20,000
Total
20,000

5,000
Interest on Auditors Remuneration
6,000
6% Debentures
1,00,000
Total
1,11,000

46,000
Provision for Tax
10,000
Total
: 12 :
56,000
J. K. SHAH CLASSES
Land and Building at Cost
3,00,000
Less: Provision for Depreciation (50,000 + 9,000)
59,000
4,00,000
1,20,000
Live Stock
2,41,000
2,80,000
20,000
Total
5,41,000
Note : 7 Non Current Investments

4% Government Securities (MV= ` 1,10,000)
95,000
Investment in Equity Shares (MV = ` 1,70,000)
1,50,000
Total
2,45,000
Closing Stock
50,000
Total
50,000

Debtors
20,000
Other debts
40,000
60,000
Less: Provision for Doubtful Debts
-5,000
Bills Receivable
55,000
20,000
Total
75,000

Cash at bank
30,000
Cash on Hand
2,000
Total
32,000
Note : 11 Short Term Loans and Advances

Prepaid Insurance
1,000
Advance Tax
15,000
Total
16,000
Note : 12 other Current Assets

Interest income receivable
4,000
Discount on issue of debentures
4,000
Less: Write off
4,000
Total
: 13 :
---4,000
J. K. SHAH CLASSES
Note : 13 Contingent liabilities and Commitments
Commitments
Uncalled amount of ` 50,000 on partly paid shares
held as investments
Note : 14 other Incomes
Interest Income
----
Add: Receivable
4,000
4,000
Total
4,000
Note : 15 Employee Benefit Expenses

Salaries
20,000
Total
20,000

----
Add: Outstanding
6,000
6,000
Total
6,000

Provision for Doubtful Debts
5,000
Auditors Remuneration
5,000
General Expenses
15,000
Less: Prepaid
-1,000
14,000
Directors Fees
9,000
Total
33,000

Discount on Issue of Debentures w/off
4,000
Total
4,000
Working Notes
Adj (b)
Bonus Ratio 1 : 3
Existing number of Shares 15,000
Therefore Bonus shares issued 5,000
Bonus Amount ` 50,000
Journal Entry
Dr.
20,000
General Reserve A/c
Dr.
30,000
50,000
Dr.
To Equity Share Capital
50,000
50,000
: 14 :
J. K. SHAH CLASSES
Ans.3.
S Ltd.
Particulars
Note No.

1
Shareholders funds
(a) Share capital
6,00,000
1,32,024
----
Share application money pending allotment
----
Non-current liabilities
3,00,000
----
----
----
Current liabilities
----
(b) Trade payables
80,000
29,500
1,35,024
TOTAL
12,76,548
B ASSETS
1
Non-current Assets
(a) Fixed assets
(i) Tangible assets
6,44,548
2,30,000
----
----
----
----
----
----
Current Assets
----
(b) Inventories
59,000
1,76,000
94,000
73,000
(f)
Other current assets
----
TOTAL
12,76,548
: 15 :
J. K. SHAH CLASSES
S Ltd.
For the year ended For the year ended
Particulars
Note No.
31 March, 20XX
31 March, 20XX
6,20,000
Other income
----
Total Revenue
6,20,000
Expenses
----
2,80,000

64,000
(e) Finance costs
45,000
75,012
(g) Other expenses
51,900
Total expenses
5
-24,000
4,91,912
Profit / (Loss) before exceptional and extraordinary

items and tax (3 - 4)
1,28,088
Exceptional items
3,960
Extraordinary items
1,32,048
---1,32,048
10 Tax expense:
66,024
(b) Short IT Provision
1,000
65,024
: 16 :
J. K. SHAH CLASSES
S Ltd.
Notes attached to and forming Part of Accounts

Particulars

?
Authorised Capital
?
Equity shares of ` /- each, fully paid up
6,00,000
(out of Above, 20,000 Equity shares are issued for

consideration other than cash)
Total
6,00,000

Securities Premium
20,000
General Reserve
62,000
38,000
1,00,000
Surplus
54,000
65,024
-38,000
-69,000
Total
12,024
1,32,024
Note: 3 Long Term Borrowings

15% Debentures
3,00,000
(Secured against assets of the company)

Total
3,00,000

Creditors
80,000
Total
80,000

22,500
Interest on Auditors Remuneration
4,000
IT Payable
3,000
Total
29,500
: 17 :
J. K. SHAH CLASSES
69,000
Provision for Tax
66,024
Total
1,35,024

Land and Building at Cost
4,00,000
37,400
4,20,000
Less: Provision for Depreciation (1,28,000 + 58,400)
1,86,400
office Equipmnet at Cost
3,62,600
2,33,600
30,000
9,300
Motor Car at Cost
50,000
22,352
Total
20,700
27,648
6,44,548
Note : 8 Intangible Assets

Goodwill
2,30,000
Total
2,30,000
Closing Stock
59,000
Total
59,000

Debtors
26,000
Other Debts
1,50,000
1,76,000
1,76,000
Total
1,76,000
: 18 :
J. K. SHAH CLASSES
Cash at Bank and Hand
94,000
Total
94,000

Prepaid Expenses
3,000
Advance Tax
70,000
Total
73,000
Note : 14 Change in Inventories

Opening Stock
35,000
Less: Closing Stock
-59,000
Total
-24,000
-24,000

Salaries
64,000
Total
64,000

22,500
Add: Outstanding
22,500
Total
45,000
45,000

4,000
Rent and Taxes
15,000
Travelling Expenses
9,000
Repairs and Renewals
2,500
Printing and Stationery
6,500
Motor Car Expenses
14,900
Total
51,900

Profit on sale of Motor Car
3,960
Total
3,960
: 19 :
J. K. SHAH CLASSES
Ans.4.
Savita Ltd.
Particulars
Note No. As at 31 March, 20XX As at 31 March, 20XX
`
1
Shareholders funds
(a)
Share capital
15,00,000
(b)
Reserves and surplus
6,95,900
(c)
Money received against share warrants
----
----
(a)
Long-term borrowings
5,00,000
(b)
Deferred tax liabilities (net)
----
(c)
Other long-term liabilities
----
(d)
Long-term provisions
----
Current liabilities
(a)
Short-term borrowings
----
(b)
Trade payables
(c)
Other current liabilities
----
(d)
Short-term provisions
4,17,500
6,28,400
TOTAL
37,41,800
B ASSETS
1
Non-current Assets
(a)
Fixed assets
(i) Tangible assets
15,90,000
----
----
----
(b)
Non-current investments
1,00,000
(c)
Deferred tax assets (net)
----
(d)
Long-term loans and advances
----
(e)
Other non-current assets
----
Current Assets
(a)
Current investments
----
(b)
Inventories
8,30,000
(c)
Trade receivables
9,88,750
(d)
Cash and cash equivalents
(e)
Short-term loans and advances
(f)
Other current assets
27,500
2,05,550
----
TOTAL
37,41,800
: 20 :
J. K. SHAH CLASSES
Savita Ltd.

Particulars

Authorised Capital
25000 Equtiy Shares of ` 100/- each
25,00,000
25,00,000

15000 Equity shares of ` 100/- each, fully paid up
15,00,000
(out of Above, 2500 Equity shares are issued as bonus)

Reconciliation
12,500
2,500
Shares at the end
15,000
Total
15,00,000

Securities Premium
25,000
Debenture redemption Reserve
1,00,000
1,00,000
General Reserve
5,50,000
Add: Utilised for Bonus
5,00,000
2,00,000
50,000
Surplus
2,86,900
4,56,500
Less: Transfer to DRR
1,00,000
50,000
Less: Proposed Equity Dividend (including DDT @ 15%) 1,72,500

Total
4,20,900
6,95,900

12% Debentures
5,00,000
Total
5,00,000

Creditors
6,28,400
Total
6,28,400
: 21 :
J. K. SHAH CLASSES
1,72,500
Provision for Tax
2,45,000
Total
4,17,500

20,00,000
5,40,000
Furniture at Cost
1,75,000
45,000
Total
14,60,000
1,30,000
15,90,000
Note : 8 Non- Current Investment

Investment in Equity Shares of Vanita Ltd (MV ` 1,05,000)
Total
1,00,000
1,00,000
Closing Stock
8,30,000
Total
8,30,000

Debtors
9,88,750
Total
9,88,750

Cash at bank and hand
2,500
Current Account with Bank
25,000
Total
27,500

Prepaid Expenses
15,000
Advance Tax
1,90,550
Total
2,05,550
Note : 12 Contingent Liab & Commitments

Contingent Liabilities
Claims against the company not acknowledged as debts ` 5,00,000
: 22 :
J. K. SHAH CLASSES
Ans.5.
Wholesale Traders Ltd.

Particulars
Note No. As at 31 March, 20XX As at 31 March, 20XX
`
(a) Share capital
4,20,000
3,38,752
----
----
1,50,000
----
----
----
7,300
(b) Trade payables
1,51,000
6,130
2,95,619
TOTAL
13,68,800
B ASSETS
1 Non-current Assets
(a) Fixed assets
(i) Tangible assets
7,19,200
----
----
----
67,500
----
----
----
2 Current Assets
----
(b) Inventories
1,67,000
3,10,000
1,05,100
----
---TOTAL
13,68,800
: 23 :
J. K. SHAH CLASSES
Particulars
Note No.
31 March, 20XX
31 March, 20XX
20,65,000
Other income
39,400
Total Revenue
21,04,400
Expenses
(a)
Cost of materials consumed
(b)
Purchases of stock-in-trade
(c)
Changes in inventories of finished goods,
13,87,500
-47,000
(d)
Employee benefits expense
54,630
(e)
Finance costs
16,300
(f)
Depreciation and amortisation expense
24,800
(g)
Other expenses
1,76,500
Total expenses
16,12,730

4,91,670

6
Exceptional items
----
Extraordinary items
4,91,670
---4,91,670
10 Tax expense:
(a)
Current tax expense
2,70,419
2,21,252
: 24 :
J. K. SHAH CLASSES

Particulars

Authorised Capital
42,000 Equity Shares of ` 10/- Each
4,20,000
4,20,000

4,20,000
Total
4,20,000

Capital Reserve
----
2,000
General Reserve
2,000
1,00,000
10,000
1,10,000
Surplus
57,500
2,21,252
-10,000
16,800
Less: Proposed Equity Dividend (DDT ignored)
25,200
Total
2,26,752
3,38,752

7% Debentures
1,50,000
Total
1,50,000
Note: 4 Short Term Borrowing

Bank overdraft
7,300
Total
7,300

Creditors
1,51,000
Total
1,51,000

Unclaimed Dividend
1,500
Managerail Remuneration o/s
4,630
Total
6,130
: 25 :
J. K. SHAH CLASSES
25,200
Provision for Tax
2,70,419
Total
2,95,619

Leasehold Properties
1,40,000

Other properties
24,500
1,15,500
6,60,000
68,300
Motor Car at Cost
25,000
13,000
Total
5,91,700
12,000
7,19,200
Note : 9 Non current Investments

Investments
67,500
Total
67,500
Closing Stock
1,67,000
Total
1,67,000

Debtors
3,10,000
Total
3,10,000

Cash at Bank
15,100
Cash in Hand
90,000
Total
1,05,100
Note : 13 Other Incomes

Rent
36,000
Investment Income
3,400
Total
39,400
: 26 :
J. K. SHAH CLASSES
Opening Stock
1,20,000
Less: Closing Stock
-1,67,000
Total
-47,000
-47,000

MD remuneration
50,000
Add: O/s
4,630
Total
54,630
54,630

10,500
Add: Outstanding
----
Bank Interest
10,500
5,800
Total
16,300

Administration and Selling Expenses
1,76,500
Total
1,76,500
Calculation of Net Profit for Managerial remuneration

Sales
20,65,000
Add: Closing Stock
1,67,000
Less: Opening Stock
1,20,000
Less: Purchases
13,87,500
Gross Profit
7,24,500
Add: Other Incomes
39,400
Less: Finance Cost
16,300
Less: Other Expenses
1,76,500
Less: Depreciation as per books
24,800
NP for managerial remuneration
5,46,300
Remuneration entitled @ 10%
54,630
: 27 :
J. K. SHAH CLASSES
Ans.6.
Bharat Implements Ltd.

Particulars
Note No.

(a) Share capital
20,000
39,179
----
29,480
(b) Deferred tax liabilities (Net)
----
----
----
(b) Trade payables
1,10,775
2,129
25,362
TOTAL
2,26,925
B ASSETS
1 Non-current assets
(a) Fixed assets
(i)
Tangible assets
35,870
----
----
----
190
----
580
----
2 Current Assets
----
(b) Inventories
1,31,000
58,940
320
----
25
TOTAL
2,26,925
: 28 :
J. K. SHAH CLASSES
Particulars
Note No.
31 March, 20XX
31 March, 20XX
6,69,700
Other income
2,880
Total revenue
6,72,580
Expenses
4,68,410

31,839
(e) Finance costs
1,620
3,550
(g) Other expenses
1,16,020
Total expenses
18,990
6,40,429

32,151

6
Exceptional items
----
Extraordinary items
32,151
---32,151
10 Tax expense:
19,612
12,539
: 29 :
J. K. SHAH CLASSES

Particulars

Authorised Capital
2000 Equity Shares of ` 10/- Each
20,000
20,000

20,000
Total
20,000

Development Reabate Reserve
2,340
340
Investment Allowance Reserve
2,680
4,250
General Reserve
General Reserve as at the beginning
25,800
12,539
Less: Transfer to DRR
340
Less: Proposed Equity Dividend (DDT @ 15%)

Total
5,750
32,249
39,179

Secured Loans
13,480
Fixed Deposits
16,000
Total
29,480

Creditors
1,10,775
Total
1,10,775

Managerail Remuneration o/s
2,129
Total
2,129

5,750
Provision for Tax
19,612
Total
: 30 :
25,362
J. K. SHAH CLASSES
Fixed assets at Cost
63,870
28,000
Total
35,870
Note : 8 Non current Investments

investments (Market Value = ` 150)
190
Total
190
Note : 9 Long term Loans and Advances

Loans and advances
580
Total
580
Closing Stock
Raw Materials
30,010
WIP
25,040
Finished Goods
75,950
Total
1,31,000

Debtors
121
Other debts
58,879
59,000
60
Total
58,940
58,940

Cash at Bank
320
Total
320

Interest Accrued
25
Total
25
Note : 14 Other Incomes

Other Income
2,880
Total
2,880
Note : 15 Cost of Materials Consumed

Opening stock of Raw Material
50,020
Add : Purchases of Raw Material
4,48,400
Less: Closing Stock of Raw Material
30,010
Total
: 31 :
4,68,410
J. K. SHAH CLASSES
Opening Stock of FG + WIP
1,19,980
Less: Closing Stock of FG + WIP
1,00,990
Total
18,990
18,990

Salaries
29,710
MD remuneration
----
Add: O/s
2,129
Total
2,129
31,839

Interest on Fixed Loan
620
Other Interest
1,000
Total
1,620

Audit Fees
50
Other Matters
15
Other Expenses
65
1,15,955
Total
1,16,020
Calculation of Net Profit for Managerial remuneration

Sales
6,69,700
Add: Closing Stock
1,31,000
Less: Opening Stock
1,61,000
Less: Purchases
4,48,400
Gross Profit
1,91,300
Add: Other Incomes
2,880
Less:
Salaries and Wages
29,710
Finance Cost
1,620
Other Expenses
1,16,020
Depreciation as per Sch. XIV
4,250
Net Profit for Managerial Remuneration

42,580
2,129
: 32 :
J. K. SHAH CLASSES
Ans.7.Calculation of Remuneration Payable to the Manager
Particulars
Gross Profit
`
9,00,000
Add:
Subsidies received from the Government
60,000
Revenue profit on sale of the Asset
70,000
1,30,000
Less:
Salaries, Wages and Bonus
1,92,500
General Expenses
74,000
Depreciation as per Sch XIV
81,000
Net Profit for Managerial Remuneration
6,82,500
Ans.8.
3,47,500
34,125
Journal Entries in the Books of A Ltd.
Conversion of Partly Paid shares into fully paid
(1)
Share Final Call A/c
Dr.
80,000

(2)
80,000
Bonus to Equity share holders
Dr.
80,000
To Share Final Call

(3)
80,000
General Reserve
Dr.
80,000
80,000
Bonus issue entries
(1)
Capital Reserve A/c
Dr.
1,00,000
Dr.
3,00,000
Capital Redemption Reserve
Dr.
3,40,000
General Reserve A/c
Dr.
60,000

(2)
8,00,000
Dr.
8,00,000
8,00,000
: 33 :
J. K. SHAH CLASSES
Ans.9.
ET Ltd.
Particulars
Note No.

`

1
Shareholders funds
(a) Share capital
25,000
19,442
----
----
36,549
----
----
241
Current liabilities
30,672
(b) Trade payables
8,807
11,000
7,275
TOTAL
1,38,986
B ASSETS
1
Non-current Assets
(a) Fixed assets
(i) Tangible assets
44,537
----
596
----
----
----
4,518

2
----
Current Assets
----
(b) Inventories
61,502
24,231
103
3,489
10
TOTAL
: 34 :
1,38,986
J. K. SHAH CLASSES
E Ltd.

(` in 000s)
Particulars

Authorised Capital
3,50,000 Equity Shares of ` 100/- Each
35,000
35,000

2,50,000 Equity shares of ` 100/- each, fully paid up
25,000
Total
25,000

Development Reabate Reserve
6,271
Investment Allowance Reserve
-----
Add: Transfer During the year
5,400
General reserve
5,400
6,031
Profit and Loss (PBT)
14,509
Less: Provision for Managerial Remuneration
94
Less: Provision for Tax
4,400
Less: Transfer to Investment Allowance Reserve
5,400
Less: Proposed Dividend (including DDT @ 15%)
2,875
Total
1,740
19,442

Loan from State Government (secured by charge on land)
575
other Secured Loans (secured by charge on biulding and plant and mach)
32,460
Fixed Deposits from Public
2,400
Unsecured Loans
1,114
Total
36,549
Note: 4 Long Term Provision

Provision for Gratuity and Pension
241
Total
241
Note: 4 Short Term Borrowings

Cash Credit from Banks (Hypothecation of Stocks)
30,672
Total
30,672
Note: 4 Trade payables

Acceptances
2,645
Sundry Creditors
6,162
Total
8,807

Other current liabilities
10,317
Interest accrued but not due on loans
589
Managerial Remuneration o/s
94
Total
: 35 :
11,000
J. K. SHAH CLASSES
Provision for Income tax
Proposed Dividend
4,400
2,875
7,275
Total
Land at Cost
Building at Cost
Furniture, Fixtures and office Equipment at Cost
Vehicles at cost
2,225
9,316
2,193
64,282
30,328
1,594
568
454
245
7,123
33,954
1,026
Total
209
44,537
Total
4,518
4,518
Total
42,014
6,116
1,414
2,771
9,187
61,502
Total
24,231
24,231
Note : 9 Long term Loans and Advances

Loans and advances
Closing Stock
Raw Materials
WIP
Finished Goods
Stores and Spare
Tools, Jigs and Dies
Note : 11 Trade receivables
Debtors
Cash in Hand
Balance with Bank
On current accounts
On deposit accounts
37
39
27
Total
66
103
Total
3,489
3,489
Total
8
2
10

Advance Tax
Preliminary Expenses
Interest accrued on Deposits
Computation of Net profit for Managerial Remuneration
Net Profit before Tax
Add:
Depreciation as per books
Salaries and perquisities to manager
Less:
Depreciation as per Sch XIV
Net profit for Managerial Remuneration
Already paid
Provision required
: 36 :
14,509
12,424
72
10,424
16,581
166
72
94

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I. P. C. C.

COMPANY FINAL ACCOUNTS

A EQUITY AND LIABILITIES

As at 31 March, 20XX As at 31 March, 20XX

1 Revenue from operations

31 March, 20XX "

(b) Purchases of stock-in-trade

(c) Changes in inventories of finished goods,

(e) Finance costs

(f) Depreciation and amortisation expense

(g) Other expenses

5 Profit / (Loss) before exceptional and

extraordinary items and tax (3 - 4)

7 Profit / (Loss) before extraordinary items and tax

9 Profit / (Loss) before tax

11 Profit for the period (PAT)

Notes attached to and forming part of Accounts

31st March 20XX 31st March 20XX

Note : 1 Share Capital

Issued, Subscribed and paid-up

(out of Above, 5000 Equity shares are issued as Bonus)

Add: Issued during the year

Shares at the end

Note : 2 Reserves and Surplus

Less: Utilised for Bonus

Add: Transfer during the year

Less: Utilised for Bonus

Add: Transfer during the year

Add: Profit for the period

Less: Transfer to General Reserve

Less: Proposed Interim Dividend

Less: Proposed Equity Dividend (including DDT @ 15%)

Note : 3 Long Term Borrowings

(secured against Plant and Machinery)

Note: 5 Other Current Liabilities

Note : 6 Short Term Provisions

Provision for Tax

Note : 7 Tangible Assets

Plant and Machinery at Cost

Less: Provision for Depreciation

Note : 9 Trade Receivables

Note : 10 Cash and Cash Equivalents

Note : 11 Finance Cost

Note : 12 Other Expenses

Note : 13 Exceptional Items

General Reserve A/c

To Bonus to Equity Shareholders

Bonus to Equity Shareholders

To Equity share capital

As at 31 March, 20XX As at 31 March, 20XX

(b) Reserves and surplus

(c) Money received against share warrants

2 Share application money pending allotment

(b) Deferred tax liabilities (net)

(c) Other long-term liabilities

(d) Long-term provisions

(b) Trade payables

(c) Other current liabilities

(d) Short-term provisions

(ii) Intangible assets

(iii) Capital work-in-progress

(iv) Intangible assets under development