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Balance Sheet of XYZ Company

ASSETS Fixed Assets:

Amount (in Rs.)

1) Land & Building………………………………

…………………

Rs. 20,00,000

2) Machinery/ Equipment

3) Plant……………………………………………

Rs.10,00,000

Rs. 10,00,000

Other Assets Patents/ Goodwills.……………………………… Total Fixed + Other Assets…………………………

Rs. 00,00,000 Rs. 40,00,000 ---A

Current Assets (Assets or amounts to be used within 1 year)

4) Inventory/ Stock/ Raw Materials…………… 5) WIP…………………………………………… 6) Cash & Bank Balances………………………. 7) Investments/ Securities/ Bonds…………… 8) Accounts or Bills Receivable/ Debtors……… Total Current Assets…………………………

Rs. 50,000 Rs. 20.000 Rs. 2,00,000 Rs. 5,00,000 Rs. 5,00,000 Rs. 12,70,000 ---B

Current Liabilities (amounts to be paid within 1 year) 9) Accounts or Bills Payable (within 1 year)…………

Rs. 1,00,000

10) Suppliers or Creditors (for 1 year)………………

Rs.

2,00,000

11) Bank Overdraft…………………………………….

Rs. 3,00,000

12) Oustanding Expenses/ Salary/ Wages…………

Rs. 2,00,000

13) Short-term Loan/ Cash Credit…………………

Rs. 1,00,000

14) Proposed Dividend……………………………

Rs. 1,00,000

15) Tax…………………………………………………

Rs. 1,00,000

Total Current Liabilities………………………………………

Net Working Capital= Total CA- Total CL= B-C …………= Rs. 1,70,000 ------D

Rs. 11,00,000 ----C

Total Assets = A+D= 40,00,000+1,70,000………………….= Rs. 41,70,000

Liabilities

1) Loans Payable/ Bank Loans…………………………….

Rs. 2,00,000

2) Long term Loans

Secured Loans………………………………………

Rs. 10,00,000

Unsecured Loans…………………………………

Rs. 00000000

Debentures………………………………………….

Rs.10,00,000

Reserves & Surplus

3) Retained Earnings (Profits/ loss from previous year)…

Rs. 10,00,000

4) General Reserve………………………………………….

Rs. 50,000

5) Capital Reserve……………………………………………

Rs. 50,000

6) Any other Reserve………………………………………

Rs. 70,000

Equity or Capital

7) Equity Capital………………………………………………

Rs. 5,00,000

8) Preference Capital…………………………………………

Rs. 3,00,000

Total Liabilities= ………………………………………………. Rs. 41,70,000

Income Statement or Profit & Loss Account

Amount (in Rs.)

Income 1) Revenues/ Sales(Cash Sales+ Credit Sales)…………………

2) Interest earned from bank/ debtors……………………………… Rs. 2,00,000 3) other Income…………………………………………………………Rs. 10,00,000 4) Comission/ Discount Received………………………………… Rs. 2,00,000

Rs. 20,00,000

Total Income……………………………………………………………

Rs. 34,00,000

Expenses 1) Any(Machines/ Computers) Purchases……………………………

Rs. 5,00,000

2) Any(Phone or Electric Bills/ Interest) Payables……………………

Rs. 2,00,000

3) Sales Promotion/ Advertising………………………………………

Rs. 1,00,000

4) Discount Allowed……………………………………………………

Rs. 1,00,000

5) Salaries/ Wages Paid……………………………………………………

Rs. 2,00,000

6) Repairs…………………………………………………………………….

Rs. 50,000

7) Postage & Telegram………………………………………………………

Rs. 10.000

8) Travelling/ Conveyance Charges……………………………………….

Rs. 1,00,000

9) Bad Debts…………………………………………………………………

Rs. 2,00,000

10) Rent Paid………………………………………………………………….

Rs. 50,000

11) Commission Allowed……………………………………………………

Rs. 10,000

12) Miscellaneous (Misc.) Expenses……………………………………….

Rs. 10,000

13) Depreciation………………………………………………………………

Rs. 50,000

14) Freight/ Surcharge……………………………………………………

Rs. 10,000

Total Expense= add all expenses…………………………………………. Rs. 16,00,000

Operating Profit= Total Income – Total Expenses= 34,00,000 - 16,00,000 =Rs. 22,00,000 (-) Interest Paid……………………………………………………………. Rs. 1,00,000

Profit Before Tax (PBT)…………………………………………………= Rs. 21,00,000

(-) Tax……………………………………………………………………… Rs. 1,00,000

Net Profit or Profit After Tax (PAT)…………………………………

= Rs. 20,00,000

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**Income Statement/ Profit & Loss Account (if you see COGS (that is Cost of Goods Sold) in question)

Income

Amount (in Rs.)

Sales…………………………………………………………….

Rs.20,00,000

(-) Cost of Goods Sold/ COGS…………………………………….

Rs. 5,00,000

Gross Profit= Sales- COGS………………………………………=

Rs. 15,00,000

Expenses

Sales, General & Administrative Expeenses(SG&A)………

=

Rs. 1,00,000

Overheads………………………………………………………

=

Rs. 50,000

Depreciation………………………………………………………=

Rs. 50,000

Any other Expenses( like bad debts, bills paid,postage, etc.)=

Rs. 2,00,00

Total Expenses…………………………………………………=

Rs. 4,00,000

Operating Profit or PBIT= Gross Profit- Total Expenses=

Rs. 11,00,000

(-) Interest (at 7% given)= (7/100)x 11,00,000……………………

Rs. 77,000

Profit Before Tax (PBT)

(-) Tax (at 5% given)= (5/100)x 10,23,000…………………………

= Rs. 10,23,000

= Rs. 51150

Net Profit or Profit After Tax (PAT)………………………………….= Rs. 971850