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Following is the Balance Sheet of Progressive Corporation Ltd as on 3 1 . 0 3 . 2 2 ( Amount in Rs Lakhs )
Following is the Balance Sheet of Progressive Corporation Ltd
as on Amount in Rs Lakhs Refer image
Following Additional Information is given :
Trade Creditors are equal to the last month purchases and Debtors
are equal to the last two months Sales
For the Half year ended Sales amounted to Rs Lakh
Gross Profit earned at Uniform Rates was Rs Lakhs
From goods purchased will cost higher and Sale
Price will be increased by Sales and Purchases are spread
evenly throughout the year Credit trms for purchases and Sales
will remain unchanged
Value of Closing Stock of is expressed to be higher than
on All the expenses will be paid within the month to which
they accrue and are estimated at Rs per month.
No Fixed Assets are proposed to be acquired or sold during the
period
You are required to prepare the Projected Balance Sheet of
Progressive Corporation Ltd as on
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