Question 5:
Following are the extracts from the
Balance Sheet of MAH Ltd. as at 31st March, 2023:
|
Particular |
31st March 2023 (`) |
31st March 2022 (`) |
|
Surplus, i.e.,
Balance in Statement of Profit and Loss |
10,00,000 |
5,00,000 |
|
Dividend Payable |
50,000 |
– |
Additional Information: Proposed Dividend for the years ended 31st
March, 2022 and 2023 are
`
4,00,000 and ` 5,00,000 respectively.
Prepare the Note to show Net Profit before Tax and Extraordinary Items.
Answer:
|
|
Particulars |
Amount (`) |
|
|
Profit as per Statement of Profit and Loss (10,00,000 – 5,00,000) |
5,00,000 |
|
|
Add: Proposed Dividend (Current Year) |
4,00,000 |
|
|
Profit Before Taxation and Extraordinary Items |
9,00,000 |
Question 6:
Following is the extract from the
Balance Sheet of Zee Ltd.:
|
Particular |
31st March 2023 (`) |
31st March 2022 (`) |
|
Equity Share
Capital |
8,00,000 |
8,00,000 |
|
10% Preference
Share Capital |
6,00,000 |
6,00,000 |
|
Surplus i.e.,
Balance in Statement of Profit and Loss |
7,20,000 |
4,00,000 |
|
Unpaid Dividend |
20,000 |
– |
Additional Information:
(i) Proposed dividend on equity shares for the year
2021-22 and 2022-23 are ` 1,60,000 and
` 2,00,000 respectively.
(ii) An Interim Dividend of `40,000 on Equity Shares was paid.
Calculate Net Profit before Tax and Extraordinary Items.
Answer:
|
|
Particulars |
Amount (`) |
|
|
Profit as per Statement of Profit and Loss (7,20,000 – 4,00,000) |
3,20,000 |
|
|
Add: Proposed Dividend (Current Year) |
1,60,000 |
|
|
Add: Proposed Preference Dividend (Current Year) 10% of 6,00,000 |
60,000 |
|
|
Add: Interim Dividend |
40,000 |
|
|
Profit Before Taxation and Extraordinary Items |
5,80,000 |
Question 7:
From the following
extract of Balance Sheet of Universal Ltd, calculate Net Profit before Tax and
Extraordinary items:
Equity and Liabilities
|
31st March, 2023 (`)
|
31st March, 2022 (`)
|
Equity Share Capital
|
10,00,000
|
10,00,000
|
10% Preference Share Capital
|
10,00,000
|
10,00,000
|
Surplus, i.e., Balance in
Statement of Profit & Loss
|
15,00,000
|
10,00,000
|
Additional Information:
Interim Dividend of 2,00,000 was paid on Equity Shares on 1st November, 2022.
Answer:
|
|
Particulars |
Amount (`) |
|
|
Profit as per Statement of Profit and Loss (15,00,000 – 10,00,000) |
5,00,000 |
|
|
Add: |
|
|
|
Interim Dividend Paid on Equity Shares |
2,00,000 |
|
|
Interim Dividend Paid on Preference Shares (10% on 10,00.000) |
1,00,000 |
|
|
Profit Before Taxation and Extraordinary Items |
8,00,000 |
Question 8:
Calculate Net Profit before Tax and
Extraordinary Items of Premier Sales Ltd. from its Balance Sheet as at 31st
March, 2023:
|
Particulars |
Note No. |
31st March, 2023 (`) |
31st March, 2022 (`) |
|
I. EQUITY
AND LIABILITIES |
|
|
|
|
1.
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
5,00,000 |
5,00,000 |
|
(b) Reserves and
Surplus |
|
2,00,000 |
1,45,000 |
|
2. Current
Liabilities |
|
|
|
|
(a) Trade Payables |
|
90,000 |
50,000 |
|
(b) Other Current
Liabilities |
|
20,000 |
10,000 |
|
(c) Short-term
Provisions |
1 |
50,000 |
30,000 |
|
Total |
|
8,60,000 |
7,35,000 |
|
II. ASSETS |
|
|
|
|
1.
Non-Current Assets |
|
|
|
|
(a) Fixed Assets |
|
4,50,000 |
4,00,000 |
|
(b) Non-Current
Investments |
|
50,000 |
1,50,000 |
|
2. Current
Assets |
|
2,60,000 |
1,85,000 |
|
Total |
|
8,60,000 |
7,35,000 |
Notes to Accounts
|
Particulars |
31st March, 2023 (`) |
31st March, 2022 (`) |
|
I.
Short-term Provisions |
|
|
|
Provision for Tax |
50,000 |
30,000 |
|
|
|
|
Additional Information:
(i)
Proposed Dividend for the years ended 31st March, 2022 and 2023 are ` 50,000 and ` 75,000 respectively.
(ii) Interim Dividend paid during the year was `
10,000.
Answer:
|
|
Particulars |
Amount (`) |
|
|
Profit as per Statement of Profit and Loss (2,00,000 – 1,45,000) |
55,000 |
|
|
Add: Proposed Dividend (Current Year) |
50,000 |
|
|
Add:
Provision for Taxation (Current Year) |
50,000 |
|
|
Add: Interim Dividend Paid |
10,000 |
|
|
Profit Before Taxation and Extraordinary Items |
1,65,000 |
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Ts Grewal Solution 2024-2025
Class 12 / Volume – 3
Chapter 4 – Cash Flow Statements