Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 141 views

    Exercise - Vertical - Balance - Sheet

    Uploaded by

    Ejas Basheer Ahamed

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd

    Exercise - Vertical - Balance - Sheet

    Uploaded by

    Ejas Basheer Ahamed
    141 views8 pages

    Original Title

    Copy of Exercise_-_Vertical_Balance_Sheet

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    XLS, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    141 views8 pages

    Exercise - Vertical - Balance - Sheet

    Uploaded by

    Ejas Basheer Ahamed

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    of 8

    SANJAY INDUSTRIES LTD

    Balance Sheet and Income Statement

    The following is the trial balnce of Sanjay Industries Ltd as on 31st March 200

    ACCOUNTS

    Stock 1st April 2008

    Sales

    Wages

    Share Capital (Authorised Capital 2,00,000 shares of Rs.10each)

    Discount

    Purchases

    Carriage Inward

    Purchases Returns

    Patents & Trademarks

    Salaries

    Bills Receivables

    Sundry expenses

    Bills payable

    Rent

    Debtors & Creditors


    Plant & Machinery

    Furniture & Fittings

    Cash at Bank

    General Reserve

    Profit & Loss account , 31st March 2008

    Further Information:

    1 Outstanding rent amounted to Rs.7,200 while outstanding salaries Rs.8,100 at the end of the year.

    2 Stock on 31st March 2009 was valued at Rs.7,92,000

    3 Depreciate Plant & Machinery @14% and Furniture & Fittings @ 18%.

    4 Amortise Patents & Trademarks @ 5%

    (Amortisation means to treat 5% as expenses and the balance as Assets)

    5 Provide for managerial remuneration @ 10% of the net profits before tax.

    6 Make a provision for tax at 35%

    7 The Board of Directors proposes a dividend @ 10% for the year ended 31st March 2009 after transfer
    to General Reserve @ 5% of profits after tax.

    REQUIRED:

    1 Profit & Loss Account for the year ended 31st March 2009.

    2 Profit & Loss Appropriation Account for the year ended 31st March 2009.

    3 Balance Sheet as on 31st March 2009.

    4 Prepare the above statements in the Horizontal format first and then in the Vertical format.
    as on 31st March 2009

    Dr(Rs) Cr(Rs)

    6,75,000

    30,60,000

    2,70,000

    9,00,000

    27,000

    22,05,000

    8,550

    90,000

    43,200

    67,500

    45,000

    63,450

    63,000

    36,000

    2,47,500 1,57,500
    1,53,000

    4,15,800

    1,39,500

    54,000

    44,91,000 44,91,000

    end of the year.

    2009 after transfer


    VERTICAL FORM OF BALANCE SHEET

    Name of the Company………………………..


    Balance Sheet as at………………………….

    Schedule No

    1 Sources of Funds

    (1) Shareholders' Funds

    (a) Capital

    (b) Reserves & Surplus

    (2) Loan Funds

    (a) Secured Loans

    (b) Unsecured Loans

    Total

    11 Application of Funds

    (1) Fixed Assets

    (a) Gross Block


    (b) Less:Depreciation
    © Net Block
    (d)Capital Work - in - progress

    (2) Investments

    (3) Current Assets, Loans and Advances

    (a) Inventories

    (b) Sundry Debtors


    © Cash & Bank Balances

    (d) Other Curent Assets.

    (e) Loans and Advances

    Less:

    Current Liabilities & Provisions

    (a) Liabilities

    (b) Provisions

    Net Current Assets

    (4) (a) Miscellaneous expenditure to the extent not w/o


    or adjusted

    (b) Profit and loss account

    Total

    Notes:

    1 Details under each of the above items shall be given in separate schedules.

    2 The figures in the Balance Sheet may be rounded off.

    3 The schedules referred to above, accounting policies and explanatory notes that may be attached
    shall form an integral part of the Balance Sheet.

    4 A footnote to the Balance Sheet may be added to show separately contingent liabilities.
    Figures as at the End Figures as at the End
    of Current FY of Previous FY

    You might also like