Question 08 Chapter 5 of +2-B
Table of Contents
Net Profit before Tax and Extraordinary Items
8. From the following information, calculate Net Profit before Tax and
Extraordinary Items:
| Particulars | Rs |
| 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 |
The solution of Question 08 Chapter 4 of +2-B: –
| Particulars |
Rs |
|
| I. Cash Flow from Operating Activities | ||
| Profit as per Statement of Profit and Loss | ||
| Opening Balance of Profit and Loss | 3,36,000 | |
| Less: Closing Balance of Profit and Loss | 1,00,000 | 2,36,000 |
| Add: Transfer to Reserve | 1,00,000 | |
| Proposed Dividend | 72,000 | |
| Interim Dividend | 90,000 | |
| Provision for Tax | 1,50,000 | |
| Loss due to Earthquake | 2,00,000 | |
| Less: Extraordinary Items | ||
| Insurance Proceeds from Earthquake disaster settlement | 1,00,000 | |
| Refund of Tax | 3,000 | |
| 7,45,000 | ||
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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)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
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