From the following balance extracted from the books of accounts of Solid Steels Limited as on 31st
Question:
From the following balance extracted from the books of accounts of Solid Steels Limited as on 31st March 2017, prepare the statement of profit and loss.
The closing stock as on 31st March 2017:
Transcribed Image Text:
Particulars Amortisation Bank charges Contribution to employees funds Depreciation on tangible assets Dividend received Exceptional expenses Freight outwards Handling cost Interest earned Interest paid Loss on sales of asset Other expenses Other comprehensive income- Items that will be classified to profit and loss (credit) Other comprehensive income- Items that will not be classified to profit and loss (debit) Power and fuel Repair and maintenance (in Crore) 12 14 212 331 23 6 356 130 180 191 12 809 80 20 462 168 Particulars Provisions and write off Raw material purchased Salary and wages Sale of scrap Sale of steel Stock in trade purchased Stores and spare parts Tax expenses Training and development cost Opening stock - Raw material - Work in progress - Finished goods Tax on OC-Items that will be classified to profit and loss (Dr) Tax on OCI-Items that will not be classified to profit and loss (Cr) (in Crore) 17 8332 1120 235 13120 233 518 258 34 557 328 205 22 6
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Pushpinder Singh
Currently, I am PhD scholar with Indian Statistical problem, working in applied statistics and real life data problems. I have done several projects in Statistics especially Time Series data analysis, Regression Techniques.
I am Master in Statistics from Indian Institute of Technology, Kanpur.
I have been teaching students for various University entrance exams and passing grades in Graduation and Post-Graduation.I have expertise in solving problems in Statistics for more than 2 years now.I am a subject expert in Statistics with Assignmentpedia.com.
4.40+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Use the trial balance and additional information given in Case 5.4 in Chapter 5 and prepare the balance sheet of HUL Limited as on 31st March 2017. Case 5.4 Hindustan Unilever Limited (HUL) is Indias...
-
Star Limited has an authorized capital of 600 million divided into 60 million equity shares of 10 each. The trial balance of the company for the year ended 31st March 2017 is as follows: Additional...
-
In continuation of Case 5.1 given in Chapter 5, you are required to prepare the balance sheet of Asian Paints Limited for the year ended 31st March 2017. The relevant information extracted from the...
-
To load and register a driver, creating a new instance of the Driver class method is better than using the Class.forName() method. (True/False)
-
How does an innovative culture make an organization more effective? Do you think an innovative culture could ever make an organization less effective? Why or why not?
-
Distinguish between human data-entry devices and source-data automation?
-
What is the difference between probability sampling and nonprobability sampling? In what situation would random sampling be best? Stratified sampling? Quota sampling?
-
SFAS No. 115 (see FASB ASC 320) was issued in response to concerns by regulators and others regarding the recognition and measurement of investments in debt securities. For the following debate, you...
-
As a CPA, you have been asked to prepare your sister Betty's year-end financial statements. Betty is a photographer and is the sole shareholder of a small company called Best Weddings Ltd. She...
-
Explain the different measures of profit.
-
Deferred tax assets and deferred tax liabilities arise due to timing difference between taxable income and reported income. Explain the statement with suitable examples.
-
In obtaining knowledge of the accounting system, four questions need to be answered. What are these four questions?
-
Derive the expression representing the output response of a first order system with input as given below: (a) Free response (b) Step input (c) Ramp input
-
What is overshoot?
-
What is a simulation?
-
What assessed level of control risk requires documentary support?
-
Derive the expression representing the output response of a second order system with input as given below: (a) Zero input (b) Step input (c) Ramp input
-
On July 1, Pam's Pizza Supply sold 100 pounds of pepperoni for $800 on account to a local pizza parlor. The terms of the sale were 2/10, n/30. The pizza parlor pays Pam's Pizza Supply in full on July...
-
Find the equations of the ellipses satisfying the given conditions. The center of each is at the origin. Passes through (2, 2) and (1, 4)
-
Define conflict.
-
Explain contemporary perspectives of conflict.
-
Contrast task, relationship, and process conflict.
-
Current Designs 10 (Part Level Submission) The Current Designs staff has prepared the annual manufacturing budget for the rotomolded line based on an estimated annual production of 4,400 kayaks...
-
Tools Libraries Resources Readability Contents True or False Contingent gains should only be recorded if they are probable and can be reasonably estimated. Restatement of financial statements should...
-
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost per...
Study smarter with the SolutionInn App