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3. OILLUSTRATION 7. Following balances are extracted on 31st March, 2015 from the books of CEE BEE Ltd. : 4,50,000 Share Capital : 3,49,160 30,000, 7% Preference Shares of 73,000 1,21,780 60,000 Equity Shares of 2,850 28,400 Surplus A/c 19,500 Gross Profit for the year 68,500 Provision for doubtful debts 3,600 Sundry Creditors 10,000 Transfer Fees 1,14,600 Accrued Wageş 7,980 Staff Benevolent Fund 32,000 Factory Premises at cost Plant and Machinery at cost Motor Lorries at cost 7 10 each 3,00,000 Sundry Debtors Bad Debts written off Rent, Rates and Taxes Advertisement * 10 each 6,00,000 16,240 2,46,640 9,000 1,29,640 110 12,840 17,900 Cash In hand and at Bank Directors' Fees Audit Fees 2021 Stock on 31-3-2015 Rent and Taxes paid in advance Salaries and Wages Dividends paid on : On Preference Shares On Equity Shares (Interim) Patents 21,000 15,000 15,000 13,32,370 13,32,370 The provision for doubtful debts is to be made upto 10,200. The Factory Premises, Plant and Machinery and Motor Lorriles are to be depreclated by 3%, 15% and 20% respectively. The Authorised Capital of the company is 7 10,00,000 divided nto 1,00,000 shares of ? 10 each. You are required to prepare: 2021 () Statement of Profit and Loss for the year ended 31st March, 2013. () a Balance Sheet as at 31st March, 2015 In the form prescribed under the Companles Act, 2013. Prevlous year's figures are not required and also ignore taxation and transfer to reserves as required by law. You need not provide corporate dividend cax.

3. OILLUSTRATION 7. Following balances are extracted on 31st March, 2015 from the books of CEE BEE Ltd. : 4,50,000 Share Capital : 3,49,160 30,000, 7% Preference Shares of 73,000 1,21,780 60,000 Equity Shares of 2,850 28,400 Surplus A/c 19,500 Gross Profit for the year 68,500 Provision for doubtful debts 3,600 Sundry Creditors 10,000 Transfer Fees 1,14,600 Accrued Wageş 7,980 Staff Benevolent Fund 32,000 Factory Premises at cost Plant and Machinery at cost Motor Lorries at cost 7 10 each 3,00,000 Sundry Debtors Bad Debts written off Rent, Rates and Taxes Advertisement * 10 each 6,00,000 16,240 2,46,640 9,000 1,29,640 110 12,840 17,900 Cash In hand and at Bank Directors' Fees Audit Fees 2021 Stock on 31-3-2015 Rent and Taxes paid in advance Salaries and Wages Dividends paid on : On Preference Shares On Equity Shares (Interim) Patents 21,000 15,000 15,000 13,32,370 13,32,370 The provision for doubtful debts is to be made upto 10,200. The Factory Premises, Plant and Machinery and Motor Lorriles are to be depreclated by 3%, 15% and 20% respectively. The Authorised Capital of the company is 7 10,00,000 divided nto 1,00,000 shares of ? 10 each. You are required to prepare: 2021 () Statement of Profit and Loss for the year ended 31st March, 2013. () a Balance Sheet as at 31st March, 2015 In the form prescribed under the Companles Act, 2013. Prevlous year's figures are not required and also ignore taxation and transfer to reserves as required by law. You need not provide corporate dividend cax.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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3. 2021 (ILLUSTRATION 7. Following balances are extracted on 31st March, 2015 from the books of CEE BEE Ltd. : 4,50,000 Share Capital : 3,49,160 30,000, 7% Preference Shares of 73,000 1,21,780 60,000 Equity Shares of 2,850 28,400 Surplus A/c 19,500 Gross Profit for the year 68,500 Provision for doubtful debts 3,600 Sundry Creditors 10,000 Transfer Fees 1,14,600 Accrued Wageş 7,980 Staff Benevolent Fund 32,000 Factory Premises at cost Plant and Machinery at cost Motor Lorries at cost * 10 each 3,00,000 Sundry Debtors Bad Debts written off 6,00,000 16,240 2,46,640 9,000 1,29,640 110 12,840 17,900 * 10 each Rent, Rates and Taxes Advertisement Cash In hand and at Bank Directors' Fees Audit Fees 2021 Stock on 31-3-2015 Rent and Taxes paid in advance Salaries and Wages Dividends paid on: On Preference Shares On Equity Shares (Interim) 21,000 15,000 15,000 Patents 13,32,370 13,32,370 The provision for doubtful debts is to be made upto 7 10,200. The Factory Premises, Plant and Machinery and Motor Lorrles are to be depreciated by 3%, 15% and 20% respectively. The Authorised Capital of the company is 7 10,00,000 divided Into 1,00,000 shares of ? 10 each. You are required to prepare: 2021 () Statement of Profit and Loss for the year ended 31st March, 2015. () a Balance Sheet as at 31st March, 201 In the form prescribed under the Companles Act, 2013. Prevlous year's figures are not required and also ignore taxation and transfer to reserves as required by law. You need not provide corporate dividend tax.
Transcribed Image Text:3. 2021 (ILLUSTRATION 7. Following balances are extracted on 31st March, 2015 from the books of CEE BEE Ltd. : 4,50,000 Share Capital : 3,49,160 30,000, 7% Preference Shares of 73,000 1,21,780 60,000 Equity Shares of 2,850 28,400 Surplus A/c 19,500 Gross Profit for the year 68,500 Provision for doubtful debts 3,600 Sundry Creditors 10,000 Transfer Fees 1,14,600 Accrued Wageş 7,980 Staff Benevolent Fund 32,000 Factory Premises at cost Plant and Machinery at cost Motor Lorries at cost * 10 each 3,00,000 Sundry Debtors Bad Debts written off 6,00,000 16,240 2,46,640 9,000 1,29,640 110 12,840 17,900 * 10 each Rent, Rates and Taxes Advertisement Cash In hand and at Bank Directors' Fees Audit Fees 2021 Stock on 31-3-2015 Rent and Taxes paid in advance Salaries and Wages Dividends paid on: On Preference Shares On Equity Shares (Interim) 21,000 15,000 15,000 Patents 13,32,370 13,32,370 The provision for doubtful debts is to be made upto 7 10,200. The Factory Premises, Plant and Machinery and Motor Lorrles are to be depreciated by 3%, 15% and 20% respectively. The Authorised Capital of the company is 7 10,00,000 divided Into 1,00,000 shares of ? 10 each. You are required to prepare: 2021 () Statement of Profit and Loss for the year ended 31st March, 2015. () a Balance Sheet as at 31st March, 201 In the form prescribed under the Companles Act, 2013. Prevlous year's figures are not required and also ignore taxation and transfer to reserves as required by law. You need not provide corporate dividend tax.
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