10.From the following Trial Balance of Shivam Ltd prepare the Profit and Loss A/C and Balance Sheet for the year ended 31st March 2011. \begin{tabular}{|l|r|r|} \hline Particulars & Amt & Amt \\ \hline Share Capital (1,20,000 Shares of Rs 10 each) & & 12,00,000 \\ \hline General Reserve & & 5,00,000 \\ \hline Calls in arrear (20,000 shares @ Rs 5 each) & 1,00,000 & \\ \hline Unclaimed Dividends & & 13,052 \\ \hline Sundry Creditors & & 1,73,716 \\ \hline Buildings (at Cost) & 3,00,000 & \\ \hline Purchases & 10,01,806 & \\ \hline Sales & & 21,67,894 \\ \hline Manufacturing Expenses & 7,18,000 & \\ \hline Salaries & 53,628 & \\ \hline General Expenses & 62,156 & \\ \hline \end{tabular} 9 Additional information: - Inventory in hand on 31 March 2011 - Rs 2,97,360 - Provide depreciation on the fixed assets at the original cost at the following rates: - Plant and machinery 10%, Motor Vehicles 20%, Furniture 10%, Buildings 2% - Interest accrued on investments- Rs 5,500 - Provision for doubtful debts to be made- 2% - Provision for tax for the current year to be made - Rs 1,20,000 - Salary for the month of March is outstanding - Rs 4,800 - General expense include insurance paid amounting to Rs 8,000 for the period from Jan 1, 2011 to 31 December 2011. - The board of directors has proposed transfer of Rs 50,000 to general reserves and a dividend on equity shares @4\%. 10.From the following Trial Balance of Shivam Ltd prepare the Profit and Loss A/C and Balance Sheet for the year ended 31st March 2011. \begin{tabular}{|l|r|r|} \hline Particulars & Amt & Amt \\ \hline Share Capital (1,20,000 Shares of Rs 10 each) & & 12,00,000 \\ \hline General Reserve & & 5,00,000 \\ \hline Calls in arrear (20,000 shares @ Rs 5 each) & 1,00,000 & \\ \hline Unclaimed Dividends & & 13,052 \\ \hline Sundry Creditors & & 1,73,716 \\ \hline Buildings (at Cost) & 3,00,000 & \\ \hline Purchases & 10,01,806 & \\ \hline Sales & & 21,67,894 \\ \hline Manufacturing Expenses & 7,18,000 & \\ \hline Salaries & 53,628 & \\ \hline General Expenses & 62,156 & \\ \hline \end{tabular} 9 Additional information: - Inventory in hand on 31 March 2011 - Rs 2,97,360 - Provide depreciation on the fixed assets at the original cost at the following rates: - Plant and machinery 10%, Motor Vehicles 20%, Furniture 10%, Buildings 2% - Interest accrued on investments- Rs 5,500 - Provision for doubtful debts to be made- 2% - Provision for tax for the current year to be made - Rs 1,20,000 - Salary for the month of March is outstanding - Rs 4,800 - General expense include insurance paid amounting to Rs 8,000 for the period from Jan 1, 2011 to 31 December 2011. - The board of directors has proposed transfer of Rs 50,000 to general reserves and a dividend on equity shares @4\%
