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Question 07 Chapter 5 of +2-B – T.S. Grewal 12 Class

Question 07 Chapter 5 of +2-B
Question No. 07 Chapter No.5 - T.S. Grewal +2 Book Part B

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Question 07 Chapter 5 of +2-B

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Net Profit before Tax and Extraordinary Items

7. Calculate Net Profit before Tax and Extraordinary Items of Premier Sales Ltd. from its Balance Sheet as at 31st March, 2019:

ParticularsNote No31st March 201931st March 2018
I. EQUITY AND LIABILITIES   
1. Shareholders’ Funds   
(a) Share Capital 5,00,0005,00,000
(b) Reserves and Surplus (Surplus i.e., Balance in Statement of Profit and Loss) 2,00,0001,45,000
2. Current Liabilities   
(a) Trade Payables 90,00050,000
(b) Other Current Liabilities 20,00010,000
(c) Short-term Provisions 150,00030,000
Total  8,60,0007,35,000
II. ASSETS   
1. Non-Current Assets   
(a) Fixed Assets 4,50,0004,00,000
(b) Non-Current Investments 50,0001,50,000
2. Current Assets 2,60,0001,85,000
Total 8,60,0007,35,000

Notes to Accounts:

Particulars31st March 201931st March 2018
I. Short-term Provisions  
Provision for Tax50,00030,000

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Additional Information:
(i) Proposed Dividend for the years ended 31st March, 2018 and 2019 are 50,000 and 75,000 respectively.
(ii) Interim Dividend paid during the year was 10,000.

 

The solution of Question 07 Chapter 4 of +2-B: –

ParticularsNote No
Rs
Profit Before Taxation and Extraordinary Items11,65,000
   
  1,65,000


Notes to Accounts:

Particulars
Rs
1. Surplus, i.e., Balance in Statement of Profit and Loss  
Opening Balance of Profit and Loss2,00,000 
Less: Closing Balance of Profit and Loss1,45,00055,000
Add: Proposed Dividend 50,000
Add: Proposed Preference Dividend 50,000
Add: Interim Dividend 10,000
  1,65,000

 

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Also, Check out the solved question of previous Chapters: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

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