Financial AccountingTU Board 2023
Manashu Ltd. provides the following statement of profit and loss for the year ending on 31st December, 2023 and following statement of financial position on 31st December, 2021 and 2023.…
10Manashu Ltd. provides the following statement of profit and loss for the year ending on 31st December, 2023 and following statement of financial position on 31st December, 2021 and 2023.
ParticularsRs.Revenue from operation10,00,000Less: Cost of sales4,50,000Gross Margin****5,50,000Add: Other income80,000Less: Distribution expenses(1,20,000)Less: Administrative expenses (including depreciation on plant Rs.30,000 and bad debts Rs. 5,000)(3,60,000)Operating profit****1,50,000Less: Finance cost18,000Net profit before tax****1,32,000Less: Provision for tax33,000Net profit after tax****99,000Less: Dividend paid45,000Addition to retained earnings****54,000
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