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प्रश्न
From the following Statement of Profit and Loss of Navratan Ltd. for the year ended 31st March, 2013, prepare a Comparative Statement of Profit and Loss:
| Particulars | Note No. | 2012 – 13 Rs |
2011 – 12 Rs |
| Revenue from operations | 8,05,000 | 6,14,000 | |
| Other Incomes | 43,000 | 51,000 | |
| Expenses | 5,59,000 | 4,88,000 |
Rate of income tax was 40%.
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उत्तर
|
Comparative Income Statement for the year ended March 31, 2012 and 2013 |
||||
|
Particulars |
2012-2013 (Rs) |
2011-2012 (Rs) |
Absolute Change (Rs) |
Percentage Change (%) |
|
I. Revenue from Operations |
8,05,000 |
6,14,000 |
1,91,000 |
31.11 |
|
II. Other Income |
43,000 |
51,000 |
(8,000) |
(15.68) |
|
III. Total Revenue (I + II) |
8,48,000 |
6,65,000 |
1,83,000 |
27.52 |
|
IV. Expenses |
5,59,000 |
4,88,000 |
71,000 |
14.55 |
|
Profit before Income Tax (III – IV) |
2,89,000 |
1,77,000 |
1,12,000 |
63.28 |
|
Less: Income Tax (40%) |
1,15,600 |
70,800 |
44,800 |
63.28 |
|
Profit after Income Tax |
1,73,400 |
1,06,200 |
67,200 |
63.28 |
|
|
|
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संबंधित प्रश्न
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(2) Obtain a long-term loan from the bank which was available at 12% per annum.
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| Year | Rs |
| III | 10,00,000 |
| IV | 20,00,000 |
| V | 30,00,000 |
| VI | 40,00,000 |
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On Application − Rs 4 per share (including Rs 2 premium)
On Allotment − Rs 5 per share (including Rs 2 premium)
On First call − Rs 5 per share (including Rs 3 premium)
On Second and final call − Balance amount
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On Application − Rs 3 per share
On Allotment − Rs 4 per share
On First and find call − Balance amount
The issue was oversubscribed by three times. Applications for 20% shares were rejected and the money was refunded. Allotment was made to the remaining applicants as follows:
| Category | No. of Shares Applied | No. of Shares Allotted |
| I | 30,000 | 15,000 |
| II | 18,000 | 5,000 |
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Pass necessary journal entries for the above transactions in the books of Joy Ltd.
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The issue of debentures more than face value of debentures
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Select most appropriate alternative from those given below :
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The following balances have been extracted from the books of Nirvana Ltd, as at 31st March, 2024:
| Particulars | (₹) | Particulars | (₹) |
| Security deposit for electricity for ten years | 30,000 | Uncalled amount on partly paid-up shares | 8,00,000 |
| Underwriting commission | 20,000 | 10% Debentures | 5,00,000 |
| General Reserve | 70,000 | Statement of P/L (Dr.) | 10,000 |
| Fixed Deposits | 2,00,000 | Calls-in arrears @ ₹ 1 per share | 40,000 |
| Premium on redemption of Debentures | 20,000 | Securities Premium | 2,00,000 |
| Equity Share Capital (1,00,000 shares of ₹ 10 each) |
10,00,000 |
You are required to show the above items in Notes to Accounts accompanying the Balance Sheet of Nirvana Ltd. prepared as per Schedule III of the Companies Act 2013 as at 31st March, 2024.
