Profit and Loss Account for the month ended …….

Expenses Amount
Opening Inventory
Purchases
Wages
Gross profit c/d
Total
General Expenses
Salaries
Bad Debts
Interest on term loan
Add: Interest due
Preliminary expenses written off
Doubtful debts
Deprecation on:
Premises
Plant & Machinery
Income tax provided for
Net Profit c/d

Total
Transfer to general reserve
Preference dividend
Equity dividend
Surplus carried to B/S
Total

Notes:
1 Income tax calculation
Profits 0
Tax@35% 0

2 Transfer to general reserve @5% 0

3 Preference dividend@10%

4 Equity dividend
ount for the month ended ……. B
Income Amount Liabilities
Sales Authorized Capital
Closing inventory Equity share capital
Preference share capital
Issued Share Capital
Total Equity share capital
Gross profit b/d 10% Preference share capital

General Reserves as on 1.04.2005

Reserves created this year

Surplus from P&L A/c

Secured Term Loan

Add: Interest on loan due

Current Liabilities
Bills payable
Creditors
Total 0 Central sales tax payable
Profit balance as on 1.04.2005 Income tax provided
Net profit b/d
Preference dividend paid
Equity dividend paid
Total 0 Total
Balance Sheet as on …….
Amount Assets Amount
Fixed Assets
Premises
Less:Depreciation

Plant and Machinery

Less:Depreciation

Land

Current Assets
Debtors
Add: Bills receiveable cheque dishonoured
Less: Doubtful debts

Bills Receivable
Less: Cheque dishonoured

Cash-in-hand
Current Account - ABN Amro

Premilinary Expenses not written off

Less: Expenses written off
Closing Inventory
0 Total 0