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प्रश्न
A company has an opening credit balance in Surplus, i.e., Balance in Statement of Profit and Loss of ₹ 1,00,000. During the year, it earned a profit of ₹ 75,000. It decided to transfer ₹ 15,000 to Debentures Redemption Reserve (DRR) and also proposed to pay dividend of ₹ 25,000.
How will be the appropriations shown in the financial statements?
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उत्तर
Extract of Balance Sheet
as at …..
|
Particulars |
Note No. |
Amount (Rs) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
a. Share Capital |
|
|
|
b. Reserves and Surplus |
1 |
1,50,000 |
|
2. Share Application Money Pending Allotment |
|
|
|
3. Non-Current Liabilities |
|
|
|
4. Current Liabilities |
|
|
|
a. Short-term Provisions |
4 |
25,000 |
|
Total |
|
|
NOTES TO ACCOUNTS
|
Note No. |
Particulars |
Amount (Rs) |
||
|
1 |
Reserves and Surplus |
|
||
|
|
(a) Surplus, i.e. Balance in Statement of Profit and Loss |
1,00,000 |
1,35,000 |
|
|
|
Add: Profit for the year |
75,000 |
||
|
|
Less: Appropriations |
|||
|
|
Transfer to Debenture Redemption Reserve |
(15,000) |
||
|
|
Proposed Dividend |
(25,000) |
||
|
|
(b) Debenture Redemption Reserve |
|
||
|
|
Transferred from Surplus i.e. Balance in Statement of Profit and Loss |
15,000 |
||
|
|
Total (a + b) [to be Shown in Balance Sheet against Reserves and Surplus] |
1,50,000 |
||
|
4 |
Short-term Provisions |
|
||
|
|
Proposed Dividend |
25,000 |
||
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संबंधित प्रश्न
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| 3 | 10 | 13 |
| 4 | 14 | 13 |
| 5 | 15 | 16 |
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| Case |
Operating Cycle Period (Months) |
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||
| 1 |
10 |
11 |
||
| 2 |
10 |
12 |
||
| 3 | 10 | 13 | ||
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| 5 |
15 |
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||
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|
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Following is their Profit & Loss Appropriation Account:
| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | ___(2)___ | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary A/c | 12,500 | ||
| To Profit transferred to: | |||
| Richa’s Capital A/C (1) | ___(1)___ | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
The amount to be reflected in blank (2) will be:
Richa and Anmol are partners sharing profits in the ratio of 3 : 2 with capitals of ₹ 2,50,000 and ₹ 1,50,000 respectively. Interest on capital is agreed @6% p.a. Anmol is to be allowed an annual salary of ₹ 12,500. During the year ended 31st March 2023, the profits of the year prior to calculation of interest on capital but after charging Anmol’s salary amounted to ₹ 62,000. A provision of 5% of this profit is to be made in respect of manager’s commission.
Following is their Profit & Loss Appropriation Account:
| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | __(2)__ | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary a/c | 12,500 | ||
| To Profit transferred to: Richa’s Capital A/C (1) | __(1)__ | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
The amount to be reflected in blank (1) will be:
Richa and Anmol are partners sharing profits in the ratio of 3 : 2 with capitals of ₹ 2,50,000 and ₹ 1,50,000 respectively. Interest on capital is agreed @6% p.a. Anmol is to be allowed an annual salary of ₹ 12,500. During the year ended 31st March 2023, the profits of the year prior to calculation of interest on capital but after charging Anmol’s salary amounted to ₹ 62,000. A provision of 5% of this profit is to be made in respect of manager’s commission.
Following is their Profit & Loss Appropriation Account:
| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | __(2)__ | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary a/c | 12,500 | ||
| To Profit transferred to: Richa’s Capital A/C (1) | __(1)__ | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
The amount to be reflected in blank (2) will be:
