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  • Rachna Boutique: Balance Sheet As On 31st March 2015 Liabilities Amount Asset Amount

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    Saurabh Sharma
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    Rachna Boutique's balance sheet and income statement for the fiscal year ending March 31, 2016 are presented. The balance sheet shows total assets of Rs. 4,99,436 and total equity of Rs. 40,57,36. The income statement indicates the boutique had total revenue of Rs. 10,55,000, total expenses of Rs. 27,24,464, and net profit of Rs. 54,336 for the fiscal year. Supporting schedules provide additional details on the boutique's debtors, creditors, cash and bank balances, materials used, tailoring charges, and dresses produced and sold during the year.

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    Rachna Boutique's balance sheet and income statement for the fiscal year ending March 31, 2016 are presented. The balance sheet shows total assets of Rs. 4,99,436 and total equity of Rs. 40,57,36. The income statement indicates the boutique had total revenue of Rs. 10,55,000, total expenses of Rs. 27,24,464, and net profit of Rs. 54,336 for the fiscal year. Supporting schedules provide additional details on the boutique's debtors, creditors, cash and bank balances, materials used, tailoring charges, and dresses produced and sold during the year.

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    43 views4 pages

    Rachna Boutique: Balance Sheet As On 31st March 2015 Liabilities Amount Asset Amount

    Uploaded by

    Saurabh Sharma
    Rachna Boutique's balance sheet and income statement for the fiscal year ending March 31, 2016 are presented. The balance sheet shows total assets of Rs. 4,99,436 and total equity of Rs. 40,57,36. The income statement indicates the boutique had total revenue of Rs. 10,55,000, total expenses of Rs. 27,24,464, and net profit of Rs. 54,336 for the fiscal year. Supporting schedules provide additional details on the boutique's debtors, creditors, cash and bank balances, materials used, tailoring charges, and dresses produced and sold during the year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    Download as xlsx, pdf, or txt
    of 4

    Rachna Boutique

    Balance sheet as on 31st March 2015


    liabilities Amount Asset Amount
    Creditors 65000 Debtors 85000
    Tailoring Charges 8500 Bank Balance 120000
    Salary Outstanding 8000 Cash 6850
    Total 81500 Dress Material 25000
    Dress 75000
    Equity 399400 Security Deposit 50000
    Furniture 116250
    Prepaid Insurance 2800

    Total 480900

    Balance sheet as on 31st March 2016


    liabilities Amount Asset Amount
    Creditors 75000 Debtors 72600
    Tailoring charges 6700 Security Deposit 50000
    Salary Outstanding 12000 Bank 158000
    Cash 5186
    SUM 93700 Dress Material 32000
    Dress 80000
    Equity 405736 Prepaid Insurance 400
    Furniture 101250

    SUM 499436

    Income statement on 31st March 2016


    Items Amount
    Revenue for the year 1055000
    Cost of goods sold -728200
    Gross Profit 326800
    Depreciation -15000
    Rent -119064
    Insurance -2400
    Other Charges -16000
    Salary -120000
    Total Expenses -272464
    Profit for the year 54336
    hna Boutique
    Debtors Account
    Opening Balnce on 01/04/2016 85000
    Sale made during the year 1055000
    Ending Balance 72600
    Cash collected during the year 1067400

    Creditors Account
    Opening Balnce on 01/04/2016 65000
    Purchase made during the year 560000
    Cash payment during the year 550000
    Ending Balance 75000

    Cash & Bank Account


    Opening Balnce on 01/04/2016 126850
    Add: Payment received from customers 1067400
    Payment to Supplier 550000
    Tailoring Charges paid 182000
    Rent Paid 119064
    Salary Paid 116000
    Other expenses 16000
    Drawings 48000
    Cash and Bank Balance 163186
    Cash Balance 5186
    Bank Balance 158000

    Material Account:
    Opening Balnce on 01/04/2016 25000
    Purchased During the year 560000
    Cost of goods consumed 553000
    Ending Balance 32000

    Tailoring Charges Account:


    Opening Balnce on 01/04/2016 8500
    Add: Charges for the year 180200
    Paid during the year 182000
    Ending Balance 6700

    Dress Account
    Opening Balnce on 01/04/2016 75000
    Add: Raw Material Consumed in the year 553000
    Add: Labour Consumed in the year 180200
    Less: Cost of goods Sold 728200
    Ending Balance 80000

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