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  • Shesnath Chowdhary

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    CA Saurabh Srivastava
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    The balance sheet shows the financial position of Rahul Information Centre as of March 31, 2020. It lists assets of Rs. 720,291 such as land and buildings, motorbike, debtors, inventory, and cash. Liabilities include an opening capital of Rs. 500,000, net profit of Rs. 150,291, and creditors of Rs. 70,000. The profit and loss statement for the year ended March 31, 2020 shows total expenses of Rs. 1,705,000 including purchases, salaries, rent, and depreciation. Total income was Rs. 1,705,000 from sales and other income. Net profit of Rs. 150,291 was transferred to the capital account.

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    The balance sheet shows the financial position of Rahul Information Centre as of March 31, 2020. It lists assets of Rs. 720,291 such as land and buildings, motorbike, debtors, inventory, and cash. Liabilities include an opening capital of Rs. 500,000, net profit of Rs. 150,291, and creditors of Rs. 70,000. The profit and loss statement for the year ended March 31, 2020 shows total expenses of Rs. 1,705,000 including purchases, salaries, rent, and depreciation. Total income was Rs. 1,705,000 from sales and other income. Net profit of Rs. 150,291 was transferred to the capital account.

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    24 views8 pages

    Shesnath Chowdhary

    Uploaded by

    CA Saurabh Srivastava
    The balance sheet shows the financial position of Rahul Information Centre as of March 31, 2020. It lists assets of Rs. 720,291 such as land and buildings, motorbike, debtors, inventory, and cash. Liabilities include an opening capital of Rs. 500,000, net profit of Rs. 150,291, and creditors of Rs. 70,000. The profit and loss statement for the year ended March 31, 2020 shows total expenses of Rs. 1,705,000 including purchases, salaries, rent, and depreciation. Total income was Rs. 1,705,000 from sales and other income. Net profit of Rs. 150,291 was transferred to the capital account.

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    of 8

    M/s RAHUL INFORMATION CENTRE

    (PROPRIETOR :VISHAL KUMAR)

    BALANCE SHEET AS AT 31ST MARCH, 2020

    AMOUNT AMOUNT AMOUNT AMOUNT


    LIABILITIES ASSETS
    Rs. Rs. Rs. Rs.

    CAPITAL ACCOUNT FIXED ASSETS


    Opening Capital 500,000.00 Land & Building 500,580.00
    ADD: Net Profit 150,291.00 Motor Bike 20,000.00

    CURRENT LIABILITIES CURRENT ASSETS


    Creditors 70,000.00 Debtors 25,000.00
    Inventory 140,000.00
    Cash in Hand 10,000.00
    Cash in Bank 24,711.00

    720,291.00 720,291.00
    M/s RAHUL INFORMATION CENTRE
    (PROPRIETOR :VISHAL KUMAR)

    PROFIT &LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2020

    Dr.
    AMOUNT
    PARTICULARS PARTICULARS
    Rs.
    TO Opening Stock 120,000.00 By Cls Stock ( As reported By Proprieter
    " Purchase 1,200,000.00 " Sales
    " Direct Exp. 10,000.00 Indirect Income
    " Conveyance 105,000.00
    " Depreciation 56,057.00
    " General Expenses 15,000.00
    " Miscellaneous Expenses 28,652.00
    " Staff Salary 15,000.00
    " Staff Welfare Expenses 5,000.00
    " Net Profit
    " (Transfer to Capital A/C) 150,291.00
    "
    1,705,000.00
    N CENTRE
    L KUMAR)

    RCH, 2020

    Cr.
    AMOUNT
    Rs.
    145,000.00
    1,500,000.00
    60,000.00

    1,705,000.00
    Particulars Year 1 Year 2 Year 3

    Net Profit 80,000.00 120,000.00 150,291.00


    Depreciation 74,043.00 64,190.00 56,057.00
    Non Cash
    Expenses 2,000.00 2,500.00 3,000.00
    Total 156,043.00 186,690.00 209,348.00
    Cash Accural Statement
    Depreciation Schedule
    Particulars Year 1 Year 2 Year 3

    Building 618000 556200 500580


    Motor Bike 40810 28567 19996.9
    Total (A) 658810 584767 520576.9

    Depreciation
    Building 61800 55620 50058
    Motor Bike 12243 8570.1 5999.07
    Total (B) 74043 64190.1 56057.07

    WDV (A-B) 584767 520576.9 464519.8


    DSCR RATIO

    Particulars Amounts

    Sales 1,500,000.00
    Less COGS 1,175,000.00
    S&D EXPS 32,500.00
    DEP 56,057.00
    Gen Exps 62,500.00
    Operating Income 173,943.00
    Interest Expenses 13,334.00
    Net Income 160,609.00

    DSCR RATIO ( operating income /


    Interest expenses 13.05

    LOAN TAKEN IN August 2020 Rs 200000


    Interest Rate 0.09

    Interest Calculation
    200000*10%*8/12 13,334.00
    Income Statement for year end 31.3.2021

    Op Stock 120,000.00
    Add Purchase 1,200,000.00
    Total 1,320,000.00
    Less Cls.Stock 145,000.00
    COGS 1,175,000.00

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