Problem.No.9 Following balances are extracted on 31st march, 2019 from the books of CEE BEE Ltd. Debit Factory premises at cost Plant& machinery at cost Motor lorries at cost Sundry debtors Bad debts written off Rs. Credit Rs. 4,50,000 Share capital: 3,49,160 30,000 , 7% preference shares of 73,000 1,21,780 | 60,000 equity shares of rs.10 each 2,850 Surplus A/c 28,400 Gross profit for the year 19,500 | Provision for doubtful debts 68,500 Sundry creditors 3,600 Transfer fees 10,000 Accrued wages 1,14,600 Staff benevolent fund 7,980 32,000 3,00,000 rs.10 each 6,00,000 16,240 2,46,640 9,000 1,29,640 110 Rent, rates and taxes Advertisements Cash in hand and at bank Directors fees Audit fees Stock on 31-32013 Rent and taxes paid inadvances Salaries and wages Dividend paid on: On preference shares On equity shares(interim) Patents 12,840 17,900 21,000 15,000 15,000 13,32,370 The provision for doubtful debts is to be made upto Rs.10,200. The factory premises , plant and machinery and motor lorries are to be depreciated by 3%, 15% and 20% respectively. The authorised capital of the company is Rs.10,00,000 13,32,370 divided into 1,00,000 shares of Rs.10 each. You are required to prepare : You are required to prepare Statement of Profit and Loss for the year ended 31-3-2019 and the Balance Sheet as on that date of the company. Ignore taxation and transfer to serves as required by law. You need not provide corporate dividend tax.
Problem.No.9 Following balances are extracted on 31st march, 2019 from the books of CEE BEE Ltd. Debit Factory premises at cost Plant& machinery at cost Motor lorries at cost Sundry debtors Bad debts written off Rs. Credit Rs. 4,50,000 Share capital: 3,49,160 30,000 , 7% preference shares of 73,000 1,21,780 | 60,000 equity shares of rs.10 each 2,850 Surplus A/c 28,400 Gross profit for the year 19,500 | Provision for doubtful debts 68,500 Sundry creditors 3,600 Transfer fees 10,000 Accrued wages 1,14,600 Staff benevolent fund 7,980 32,000 3,00,000 rs.10 each 6,00,000 16,240 2,46,640 9,000 1,29,640 110 Rent, rates and taxes Advertisements Cash in hand and at bank Directors fees Audit fees Stock on 31-32013 Rent and taxes paid inadvances Salaries and wages Dividend paid on: On preference shares On equity shares(interim) Patents 12,840 17,900 21,000 15,000 15,000 13,32,370 The provision for doubtful debts is to be made upto Rs.10,200. The factory premises , plant and machinery and motor lorries are to be depreciated by 3%, 15% and 20% respectively. The authorised capital of the company is Rs.10,00,000 13,32,370 divided into 1,00,000 shares of Rs.10 each. You are required to prepare : You are required to prepare Statement of Profit and Loss for the year ended 31-3-2019 and the Balance Sheet as on that date of the company. Ignore taxation and transfer to serves as required by law. You need not provide corporate dividend tax.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Problem.No.9
Following balances are extracted on 31st march , 2019 from the books of CEE BEE Ltd.
Rs. Credit
4,50,000 Share capital:
3,49,160 30,000 , 7% preference shares of
73,000 rs.10 each
1,21,780 60,000 equity shares of rs.10 each
2,850 Surplus A/c
28,400 | Gross profit for the year
19,500 Provision for doubtful debts
68,500 | Sundry creditors
3,600 Transfer fees
10,000 Accrued wages
1,14,600 Staff benevolent fund
7,980
32,000
Debit
Rs.
Factory premises at cost
Plant& machinery at cost
Motor lorries at cost
3,00,000
6,00,000
Sundry debtors
Bad debts written off
16,240
2,46,640
9,000
1,29,640
110
Rent, rates and taxes
Advertisements
Cash in hand and at bank
Directors fees
Audit fees
12,840
17,900
Stock on 31-32013
Rent and taxes paid inadvances
Salaries and wages
Dividend paid on:
On preference shares
On equity shares(interim)
Patents
21,000
15,000
15,000
13,32,370
The provision for doubtful debts is to be made upto Rs.10,200. The factory premises, plant and machinery and motor
lorries are to be depreciated by 3%, 15% and 20% respectively. The authorised capital of the company is Rs.10,00,000
13,32,370
divided into 1,00,000 shares of Rs.10 each. You are required to prepare :
You are required to prepare Statement of Profit and Loss for the year ended 31-3-2019 and the Balance Sheet as
on that date of the company. Ignore taxation and transfer to serves as required by law. You need not provide
corporate dividend tax.
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