Question 53 Chapter 1 VK Publications Class 12 Part 2

Question 53 Chapter 1 VK Publications Class 12 Part 2 – 2021

Table of Contents

The solution of Question 53 Chapter 1 VK Publications Class 12 Part 2: –

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

53. From the following intormation ot Ratna Ltd., prepare a Statement of Profit and Loss for the year ended 31st March, 2018:
Revenue from operations Rs. 1,15,000, Commission Received Rs. 35,000, Cost of MaterialConsumed Rs. 12,500, Purchases of Stock-in-Trade Rs. 5,000, Changes in Inventories Rs. 22,500,Employees Benefit Expenses Rs. 10,000, Finance Cost Rs. 6,000, Depreciation Rs. 2,500 Advertising Expenses Rs. 8,500.

The solution of Question 53 Chapter 1 VK Publications Class 12 Part 2: –

Statement of Profit and Loss for the year ended 31st , March 2018 :

Particulars	Note No.	31st March 2018Rs.	31st March 2017Rs.

I. Revenue from Operations	1	1,15,000

II. Other Incomes		35,000

III. Total Revenue from Operations (I+II)		1,50,000

IV. Expenses
Cost of material consumed		12,500
Purchase of Stock in Trade		5,000
Changes in Inventories		22,500
Employees Benefit Expenses		10,000
Finance Cost		6,000
Depreciations		2,500
Other expenses		8,500
Total Expenses	2	67,000

-I. Profit beforeTax (III-IV)		83,000