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  • 305999570-Accounts 17

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    This document presents a balance sheet with 8 items: 1) Proposed equity dividend of Rs. 1,00,000 along with dividend distribution tax of Rs. 20,358. 2) Current liabilities of Rs. 42,000 including unclaimed dividends and outstanding expenses. 3) Short-term provisions of Rs. 2,11,558 including tax provision and proposed dividend. 4) Tangible assets of Rs. 5,70,000 including buildings and plant/equipment after depreciation. 5) Inventories of Rs. 2,26,000 including finished goods and loose tools. 6) Trade receivables of Rs. 2,40,000 including debt

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    305999570-Accounts.17

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    This document presents a balance sheet with 8 items: 1) Proposed equity dividend of Rs. 1,00,000 along with dividend distribution tax of Rs. 20,358. 2) Current liabilities of Rs. 42,000 including unclaimed dividends and outstanding expenses. 3) Short-term provisions of Rs. 2,11,558 including tax provision and proposed dividend. 4) Tangible assets of Rs. 5,70,000 including buildings and plant/equipment after depreciation. 5) Inventories of Rs. 2,26,000 including finished goods and loose tools. 6) Trade receivables of Rs. 2,40,000 including debt

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    11 views1 page

    305999570-Accounts 17

    Uploaded by

    santosh kumar
    This document presents a balance sheet with 8 items: 1) Proposed equity dividend of Rs. 1,00,000 along with dividend distribution tax of Rs. 20,358. 2) Current liabilities of Rs. 42,000 including unclaimed dividends and outstanding expenses. 3) Short-term provisions of Rs. 2,11,558 including tax provision and proposed dividend. 4) Tangible assets of Rs. 5,70,000 including buildings and plant/equipment after depreciation. 5) Inventories of Rs. 2,26,000 including finished goods and loose tools. 6) Trade receivables of Rs. 2,40,000 including debt

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    © All Rights Reserved
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    of 1

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    PAPER 1 : ACCOUNTING

    Proposed Equity Divided [25% of ` 4,00,000]


    Dividend Distribution Tax (W. N.1)

    17

    (1,00,000)
    (20,358)

    1,21,162
    2,22,442

    3.

    Other Current Liabilities


    Unclaimed Dividend

    10,000

    Outstanding Expenses

    4,000

    Interest accrued on Debentures


    4.

    28,000
    42,000

    Short-Term Provision
    Provision for Tax
    Proposed Equity Dividend

    91,200
    1,00,000

    Dividend Distribution Tax

    20,358
    2,11,558

    Tangible Assets
    Buildings

    5,80,000

    Less: Provision for Depreciation


    Plant and Equipment

    1,00,000
    2,00,000

    4,80,000

    Less: Provision for Depreciation

    1,10,000

    90,000
    5,70,000

    8.

    Inventories
    Closing Stock of Finished Goods
    Loose Tools
    Trade Receivables

    1,80,000
    46,000

    Sundry Debtors

    2,50,000

    Less: Provision for Doubtful Debts

    (10,000)

    2,26,000

    2,40,000

    Other Expenses
    Rent

    52,000

    Miscellaneous Expenses

    36,000

    Directors Fees

    20,000

    Bad Debts

    12,000

    Provision for Doubtful Debts (4% of ` 2,50,000 less ` 6,000)

    4,000
    1,24,000

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