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Fin Module 1 Answers

The document contains various financial statements including income statements and balance sheets for multiple periods. Key figures such as sales, gross profit, net profit, and asset and liability totals are provided. It highlights the financial performance and position of the entities over the reported periods.

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5 views2 pages

Fin Module 1 Answers

The document contains various financial statements including income statements and balance sheets for multiple periods. Key figures such as sales, gross profit, net profit, and asset and liability totals are provided. It highlights the financial performance and position of the entities over the reported periods.

Uploaded by

shashank.m
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Q7.

Income Statement

Sales ■5,00,000
COGS ■3,00,000
Gross Profit ■2,00,000
Operating Expenses ■50,000
Operating Profit ■1,50,000
Interest ■10,000
Profit Before Tax ■1,40,000
Tax (30%) ■42,000
Net Profit ■98,000

Q7. Balance Sheet

Assets ■5,98,000
Land & Building ■2,00,000
Investments ■1,00,000
Furniture ■1,00,000
Cash ■1,98,000

Liabilities ■5,98,000
Capital ■4,98,000
Liabilities ■1,00,000

Q8. Balance Sheet

Assets ■75,00,000
Land & Building ■30,00,000
Plant & Machinery ■20,00,000
Current Assets ■25,00,000

Liabilities ■75,00,000
Share Capital ■40,00,000
Reserves & Surplus ■8,00,000
Long-term Borrowings ■15,00,000
Balancing Figure ■12,00,000

Q9. Balance Sheet

Assets ■34,00,000
Furniture ■6,00,000
Machinery ■14,00,000
Investments ■5,00,000
Cash & Bank ■4,00,000
Other Assets ■5,00,000

Liabilities ■34,00,000
Share Capital ■25,00,000
Reserves ■5,00,000
Current Liabilities ■8,00,000
Long-term Loan ■10,00,000
Creditors ■5,00,000
Q10. Balance Sheet

Assets ■93,00,000
Building ■45,00,000
Equipment ■20,00,000
Inventory ■18,00,000
Debtors ■10,00,000

Liabilities ■93,00,000
Share Capital ■60,00,000
Reserves ■15,00,000
Long-term Loan ■20,00,000
Creditors ■8,00,000

Q11. Income Statement

Sales ■6,00,000
COGS ■3,50,000
Gross Profit ■2,50,000
Selling & Admin Expenses ■80,000
Operating Profit ■1,70,000
Add: Other Income ■20,000
Less: Interest ■10,000
Less: Tax ■50,000
Net Profit ■1,30,000

Q12. Income Statement

Sales ■7,50,000
COGS ■5,00,000
Gross Profit ■2,50,000
Operating Expenses ■1,20,000
Operating Profit ■1,30,000
Add: Other Income ■30,000
Less: Interest ■15,000
Less: Tax ■80,000
Net Profit ■65,000

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