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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
From the following information, calculate Net Profit before Tax and Extraordinary Items:
| Particulars | Amount (₹) |
|---|---|
| Surplus, i.e., Balance in Statement of Profit and Loss (Opening) | 1,00,000 |
| Surplus, i.e., Balance in Statement of Profit and Loss (Closing) | 3,36,000 |
| Dividend Paid in the current year | 72,000 |
| Interim Dividend Paid during the year | 90,000 |
| Transfer to Reserve | 1,00,000 |
| Provision for Tax for the current year | 1,50,000 |
| Refund of Tax | 3,000 |
| Loss due to Earthquake | 2,00,000 |
| Insurance Proceeds from Earthquake Disaster Settlement | 1,00,000 |
Note: Net Profit before Tax and Extraordinary Items
| Particulars | Amount (₹) |
|---|---|
| Profit as per Statement of Profit and Loss (3,36,000 − 1,00,000) | 2,36,000 |
| Add: Transfer to Reserve | 1,00,000 |
| Add: Dividend Paid during the year | 72,000 |
| Add: Interim Dividend Paid during the year | 90,000 |
| Add: Provision for Tax made during the year | 1,50,000 |
| Add: Loss due to Earthquake (Extraordinary Item) | 2,00,000 |
| Less: Insurance Proceeds from Earthquake Disaster Settlement (Extraordinary Item) | (1,00,000) |
| Less: Refund of Tax | (3,000) |
| Net Profit before Tax and Extraordinary Items | 7,45,000 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "T.S. Grewal Class 12 Vol 3 Chapter 5 Q.8 - Cash Flow Statement", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 5 - Cash Flow Statement.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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