Question 08 Chapter 5 of +2-B – T.S. Grewal 12 Class

Question 08 Chapter 5 of +2-B

Question 08 Chapter 5 of +2-B

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)

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

2 Book 3 min 225x300 - Question 08 Chapter 5 of +2-B  - T.S. Grewal 12 Class
T.S. Grewal’s Analysis of Financial Statements

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