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    Shashaank Industries LTD - Session 3

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    Srijan Saxena
    Shashaank Industries Ltd. reported total expenses of Rs. 89,74,700 for the year ending March 31, 2006. Total income was Rs. 89,74,700. Net profit for the year was Rs. 4,00,340. As of March 31, 2006 the company had total assets of Rs. 4,30,92,264 including fixed assets of Rs. 29,88,544 and current assets of Rs. 3,83,880. Total liabilities stood at Rs. 4,30,92,264 including share capital of Rs. 1,49,50,000 and secured loans of Rs. 15,38,250.

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    Shashaank Industries LTD - Session 3

    Uploaded by

    Srijan Saxena
    112 views6 pages
    Shashaank Industries Ltd. reported total expenses of Rs. 89,74,700 for the year ending March 31, 2006. Total income was Rs. 89,74,700. Net profit for the year was Rs. 4,00,340. As of March 31, 2006 the company had total assets of Rs. 4,30,92,264 including fixed assets of Rs. 29,88,544 and current assets of Rs. 3,83,880. Total liabilities stood at Rs. 4,30,92,264 including share capital of Rs. 1,49,50,000 and secured loans of Rs. 15,38,250.

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    Shashaank Industries Ltd_Session 3.xlsx

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    Shashaank Industries Ltd. reported total expenses of Rs. 89,74,700 for the year ending March 31, 2006. Total income was Rs. 89,74,700. Net profit for the year was Rs. 4,00,340. As of March 31, 2006 the company had total assets of Rs. 4,30,92,264 including fixed assets of Rs. 29,88,544 and current assets of Rs. 3,83,880. Total liabilities stood at Rs. 4,30,92,264 including share capital of Rs. 1,49,50,000 and secured loans of Rs. 15,38,250.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    112 views6 pages

    Shashaank Industries LTD - Session 3

    Uploaded by

    Srijan Saxena
    Shashaank Industries Ltd. reported total expenses of Rs. 89,74,700 for the year ending March 31, 2006. Total income was Rs. 89,74,700. Net profit for the year was Rs. 4,00,340. As of March 31, 2006 the company had total assets of Rs. 4,30,92,264 including fixed assets of Rs. 29,88,544 and current assets of Rs. 3,83,880. Total liabilities stood at Rs. 4,30,92,264 including share capital of Rs. 1,49,50,000 and secured loans of Rs. 15,38,250.

    Copyright:

    © All Rights Reserved
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    Download as xlsx, pdf, or txt
    of 6

    Shashaank Industries Ltd.

    Profit and Loss Account for the Year ended 31st March 2006
    Expenses Amount

    Opening Inventory 1304940


    Purchases 4784500
    Less: Purchases return 68950
    Less: Inventories destroyed in fire 45000
    Less: Computer 50000 4620550
    Freight Inwards 34370
    Wages 768180
    Manufacturing Expenses 134680
    Electricity and Power - Factory 99470
    Less: Related to office 2450 97020
    Gross Profit c/d 2014960
    Total 8974700
    Salaries 255000
    Managing Director's Remuneration 132480
    Director's Meeting Fees 12000
    Interest on Loans 227000
    Add: Interest due on Term loan 16875 243875
    Depreciation on:
    Plant and Machinery 160926
    Factory Builiding 89880
    Vehicles 22750
    Computer 7000
    Furniture 13050 293606
    Amortisation of Goodwill 40000
    Electricity and Power - office 23800
    Add: Tefd. From factory 2450 26250
    Office Rent 60000
    General Office Expenses 60270
    Advertising Expenses 150000
    Less: Expenses Deferred 100000 50000
    Freight outwards 64820
    Bad debts 12500
    Provision for doubtful debts 57540
    Preliminary expenses w/o 7000
    Auditors' fees 8750
    Loss due to fire 5000
    Managing Directors' Commission 20636
    Provision for income tax 266893
    Net Profit c/d 400340
    Total 2016960
    Transfer to general reserve 40034
    Proposed dividend 224250
    Balance carried to balance sheet 196536
    Total 460820
    aank Industries Ltd.
    for the Year ended 31st March 2006
    Income Amount

    Sales 8189300
    Less: Sales Return 88480 8100820
    Closing Inventory 873880

    Total 8974700
    Gross Profit b/d 2014960
    Interest on Advances 1500
    Add: Interest Accrued 500 2000

    Total 2016960
    Balance as on 1st April 2005 60480
    Net Profit for the year b/d 400340
    Total 460820
    Shashaank Industries Ltd.
    Balance Sheet as on 31st March 2006
    Liabilities Amount

    Share Capital
    Authorized

    2,50,000 equity shares of Rs. 10 each 2500000


    Issued, Subscribed, Called-up and Paid-up:
    1,50,000 Equity shares of Rs. 10 each 1500000
    Less: calls in arrears 5000 1495000
    Reserves and Surplus

    General Reserve: 40034


    Balance in P&L Account 196536
    Secured Loans
    Term Loan from Bank of India 450000
    Working Capital limit from Bank of India 985250

    Unsecured Loans
    Fixed Deposits-Long term 203,000

    Current Liabilities and Provisions

    A. Current Liabilities
    Creditors 645540
    Expenses Payable 10250
    Add: Commission Payable to MD 20636 30886

    Interest Due on Term Loan 16875


    B. Provisions
    Income Tax 266893
    Less: Advance tax paid 245000 21893
    Proposed Dividend 224250

    Total 4309264
    Shashaank Industries Ltd.
    nce Sheet as on 31st March 2006
    Assets Amount

    Fixed Assets
    Goodwill 120000
    Less: 1/3rd amortised 40000 80000

    Factory Building 898800


    Less: Dep @ 10% 89880 808920

    Plant & Machinery 1149470


    Less: Dep @ 14% 160926 988544

    Computer 50000
    Less: Dep @ 14% 7000 43000

    Furniture 72500
    Less: Dep @ 18% 13050 59450

    Vehicles 87500
    Less: Dep @ 26% 22750 64750
    Investments
    Equity shares of Reliance Industries Ltd.- Long-term 50000
    Current Assets, Loans & Advances
    A. Current Assets:
    Inventory 873880
    Debtors 1150800
    Less: Provisison for Doubtful Debts 57540 1093260
    Due from Insurance co. 40000
    Cash-in-hand 13440
    Balance with Punjab National Bank 33020

    B. Loans & Advances


    Prepaid Expenses 31500
    Advances to Employees 15000
    Add: Interest Accrued 500 15500

    Miscellaneous Expenditure
    Preliminary Expenses 21000
    Less: 1/3rd w/o 7000 14000

    Deferred Advertising Expenses 100000


    Total 4309264.2

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