1. From the following particulars, prepare a Statement of profit and loss for the year ending March 2023, showing a
profit before tax as per Schedule III of the Companies Act - 2013.
PARTICULARS
(?.)
(?.)
Plant and Machinery 1,60,000
Land 6,74,000
Depreciation on Plant and Machinery 16,000
Purchases (Adjusted) 4,00,000
Closing stock 1,50,000
Wages 1,20,000
Sales (Net) 10,00,000
Salaries 80,000
Bank overdraft 2,00,000
10% debentures (issued on 1st April, 2022) 1,00,000
Equity share capital - shares of Rs. 100 each (fully paid) 2,00,000
Preference share capital - 1,000; 6% shares of Rs. 100 each (fully paid) 1,00,000
16,00,000 16,00,000