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CBSECommerce (English Medium) Class 12
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अभ्यासक्रम

Statement of Profit and Loss

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CBSE: Class 12
CISCE: Class 12

Format: Statement of Profit & Loss

                                                                  FORMAT OF STATEMENT OF PROFIT AND LOSS

Name of the Company............................

Profit and loss statement for the year ended..............................

Particulars Note No. Figures for the current reporting period Figures for the previous reporting period
I. Revenue from operations   xxx xxx
II. Other Income   xxx xxx
III. Total Income (I + II)   xxx xxx
IV. Expenses:      
Cost of materials consumed   xxx xxx
Purchases of Stock-in-Trade   xxx xxx
Changes in inventories of finished goods, work-in-progress and Stock-in-Trade   xxx xxx
Employee benefits expenses   xxx xxx
Finance costs   xxx xxx
Depreciation and amortisation expenses   xxx xxx
Other expenses   xxx xxx
Total expenses   xxx xxx
V. Profit before Tax (III – IV)   xxx xxx
VI. Less: Tax   (xxx) (xxx)
VII. Profit after Tax (V – VI)   xxx xxx

Related QuestionsVIEW ALL [25]

C and D are the partner in a firm sharing profits in the ratio of 4:1. On 31.3.2016 their Balance Sheet was as follows :

Balance Sheet of C and D
As on 31.3.2016
Liabilities Rs Assets Rs

Sundry Creditors

Provision for Bad debts

Outstanding Salary

General Reserve

 

Capitals

C             1,20,000

D                80,000

40,000

4,000

6,000

10,000

 

 

 

2,00,000

Cash

Debtors

Stock

Furniture

Plant and Machinery

 

 

 

24,000

36,000

40,000

80,000

80,000

 

 

 
  2,60,000   2,60,000

On the above date, E was admitted for 1/4 th share in the profits on the following terms:

1) E will bring 1, 00,000 as his capital and 20,000 for his share of goodwill premium half of which will be withdrawn by C and D.

2) Debtors 2,000 will be written off as bad debts and a provision of 4% will be created on debtors for bad debts and doubtful debts

3) The stock will be reduced by Rs 2,000, furniture will be depreciated by Rs 4,000 and 10% depreciation will be charged on plant and machinery

4) Investments of 7,000 not shown in the Balance Sheet will be taken into account.

5) There was an outstanding repairs bill of Rs 2,300 which will be recorded in the books.

Pass necessary journal entries for the above transactions in the books of the firm on E’s admission.

Under which heads the following items will be placed in the Balance Sheet of a company as per Schedule VI part I of the Companies Act, 1956?

(1) Cash in hand
(2) Mining Rights
(3) Short-term deposits
(4) Debenture Redemption Reserve
(5) Income received in advance
(6) The balance of the Statement of Profit and Loss
(7) Office Equipment and
(8) Work-in-progress.

List any four items other than 'stock-in-trade' that are presented under the sub-head 'inventories' as per schedule Ill of the Companies Act, 2013.

List the items which are shown under the heading current liabilities and provisions as per Schedule VI Part-I of the Companies’ Act,1956.

Following is the Balance Sheets of Solar Power Ltd as at 31.3.2014 :

Solar Power Ltd.
Balance Sheet
Particulars Note
No.

31-3-2014

Rs

31-3-2014

Rs

I. Equity and Liabilities

   1. Shareholder’s Funds

     a. Share Capital

     b. Reserve and Surplus

   2. Non - Current Liabilities

     a. Long-term borrowings

  3. Current Liabilities

    a. Trade Payables

    b. Short Term Provisions

  

 

 

24,00,000

6,00,000

 

4,80,000

 

3,58,000

1,00,000

 

 

22,00,000

4,00,000

 

3,40,000

 

4,08,000

1,54,000
Total   39,38,000 35,02,000

II. Assets

1. Non – Current Assets

  a) Fixed Assets

    (i) Tangible assets

    (ii) Intangible

  b) Non – Current Investments

2. Current Assets

  a) Current Investment

  b) Inventories

  c) Trade Receivables

  d)Cash and Cash

  

 

 

21,40,000

80,000

 

 

 

4,80,000

2,58,000

3,40,000

6,40,000

 

 

17,00,000

2,24,000

 

 

 

3,00,000

2,42,000

2,86,000

7,50,000
Total   39,38,000 35,02,000

Notes to Accounts

Note
No		 Particulars As On
31-3-2014		 As On
31-3-2013

1

 

Reserve and Surplus

(Surplus i.e. Balance in Statement of Profit and Loss)

6,00,000

 

4,00,000

 

2

 

 

Tangible Assets

Machinery

   Less: Accumulated Depreciation

 

25,40,000

(4,00,000)

 

20,00,000

(3,00,000)

3

 

Intangible Assets

Goodwill

 

80,000

 

2,24,0000

Additional Information:-

During the year a piece of machinery, costing Rs 48,000 on which accumulated depreciation was Rs 32,000, was sold at Rs 12,000.

Prepare Cash Flow Statement.

From the following Balance Sheet as SRS Ltd and the additional information as in 31.3.2016, prepare a Cash Flow Statements :

Balance Sheet of SRS Ltd as at 31-3-2016
Particulars Note
No.

31-03-2016

Rs

31-03-2015

Rs

I. Equity and Liabilities

   1. Shareholder’s Funds

       (a) Share Capital

       (b) Reserve and Surplus

   2. Non - Current Liabilities

      (a) Long-term borrowings

   3. Current Liabilities

      (a) Short-term borrowings

      (b) Short-term provisions

 

 

 

1

 

2

 

3

4

 

 

4,50,000

1,25,000

 

2,25,000

 

75,000

1,00,000

 

 

3,50,000

50,000

 

1,75,000

 

37,500

62,500
Total   9,75,000 6,75,000

II. Assets

    1. Non – Current Assets

       (a) Fixed Assets

           Tangible assets

           Intangible

       (b) Non – Current Investments

    2. Current Assets

     (a) Current Investments

     (b) Inventories

     (c) Cash and Cash

 

 

 

5

6

 

 

 

7

 

 

7,32,500

50,000

75,000

 

20,000

61,000

36,500

 

4,52,500

75,000

50,000

 

35,000

36,000

26,500
Total   9,75,000 6,75,000

 

Note No Particulars

31-3-2016

Rs

31-3-2015

Rs

1

 

Reserve and Surplus

(Surplus i.e. Balance in Statement of Profit and Loss)

1,25,000

 

50,000

 
    1,25,000 50,000

2

 

Long term borrowings :

12 % Debentures

 

2,25,000

 

1,75,000
    2,25,000 1,75,000

3

 

Short-term borrowings :

Bank Overdraft

 

75,000

 

37,500
    75,000 37,500

4

 

Short-term provisions

Provisions for tax

 

1,00,000

 

62,500
    1,00,000 62,500

5

 

 

Tangible Assets

Machinery

Accumulated Depreciation

 

8,37,500

(1,05,000)

 

5,22,500

(70,000)
    7,32,500 4,52,500

6

 

Intangible Assets

Goodwill

 

50,000

 

75,000
    50,000 75,000

7

 

Inventories

Stock in trade

 

61,000

 

36,000
    61,000 36,000

Additional Information:

1) Rs 50,000, 12% debentures were issued on 31.3.2016

2) During the year a piece of machinery costing Rs40,000 on which accumulated depreciation was Rs 20,000 was sold at a loss of Rs 5,000.

Prepare a common size Balance Sheet of KJ Ltd. from the following information:

Particular Note
No.

31-3-2017

Rs

31-3-2016

Rs

I. Equity and Liabilities

   1. Shareholders' Funds

   2. Non-current Liabilities

   3. Current Liabilities

Total

II. Assets

   1. Non- Current Assets

   2. Current Assets

Total

 

  

8,00,000

5,00,000

3,00,000

16,00,000

 

10,00,000

6,00,000

16,00,000

4,00,000

2,00,000

2,00,000

8,00,000

 

5,00,000

3,00,000

8,00,000

 

Prepare a Comparative Income Statement from the following information: 

  Particulars

31.3.2009

Rs

31.3.2010

Rs

Sales

40,000

50,000

Cost of goods sold

30,000

35,000

Wages paid

16,000

14,000

Operating Expenses

2,500

3,000

Other Incomes

2,000

3,000

Income tax

4,750

7,500

 

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