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    Padma Agencies Provisional Balance Sheet As at March 31, 2020

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    triplete123

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    Padma Agencies Provisional Balance Sheet As at March 31, 2020

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    triplete123
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    Provisional_31.12.2020

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    28 views3 pages

    Padma Agencies Provisional Balance Sheet As at March 31, 2020

    Uploaded by

    triplete123

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    PADMA AGENCIES

    Provisional Balance Sheet as at March 31, 2020


    (All amounts are in Indian Rupees unless otherwise stated)
    Note As at As at
    I CAPITAL AND LIABILITIES
    No December 31, 2020 March 31, 2020
    Partner's Capital A/c
    a. Capital Account 1 1,00,000 1,00,000
    b. Current Account 2 11,91,308 21,736

    Current Liabilities
    a. Income Tax Payable 72,674 9,860

    Total 13,63,982 1,31,596

    II ASSETS

    Current Assets
    a. Trade Receivable 3 5,56,850 70,226
    b. Cash and Cash Equivalents 4 2,65,410 61,370
    c. Inventory 5,41,722 -

    Total 13,63,982 1,31,596

    For PADMA AGENCIES

    Alagappan Poovizhi
    Partner Partner

    Place: Pollachi
    Date:
    PADMA AGENCIES
    Provisional Trading and Profit & Loss Account for the year ended December 31, 2020
    (All amounts are in Indian Rupees unless otherwise stated)
    For the year ended For the year ended
    PARTICULARS
    31.12.2020 31.03.2020
    Revenue
    a. Sale of Products 55,26,542 79,12,584

    Purchases
    a. Local Purchase 48,97,976 67,57,134
    b. Import Purchase - -

    Increase in inventory 5,41,722

    Direct Expenses
    a. Transport Cost 85,240 -

    Gross Profit 10,85,048 11,55,450

    Employees Cost
    a. Partners Salary 2,25,000 3,00,000
    b. Salary 5,63,300 7,88,404

    Administration Expenses
    a. Rent 28,000 35,000
    b. Bank Charges 850 450
    c. Power and Fuel 25,652

    Net profit 2,42,246 31,596

    Net Profit before Taxation 2,42,246 31,596

    Income Tax provision 72,674 9,860

    Net Profit Transfer to Capital A/c 1,69,572 21,736

    For PADMA AGENCIES

    Alagappan Poovizhi
    Partner Partner

    Place: Pollachi
    Date:
    PADMA AGENCIES
    Schedules to Provisional Balance sheet as at December 31, 2020
    (All amounts are in Indian Rupees unless otherwise stated)
    As at As at
    PARTICULARS
    December 31, 2020 March 31, 2020
    Note 1 - Partner's Capital A/c
    Manickam Alagappan
    To Opening Balance 50,000 50,000
    Additions - -
    Drawings - -
    By Closing Balance 50,000 50,000

    Poovizhi Alagappan
    To Opening Balance 50,000 50,000
    Additions - -
    Drawings - -
    By Closing Balance 50,000 50,000

    1,00,000 1,00,000

    Note 2 - Partner's Current A/c


    Manickam Alagappan
    Additions 5,10,868 -
    Add : Share of Profit (50%) 84,786 10,868
    Less : Drawings - -
    By Closing Balance 5,95,654 10,868

    Poovizhi Alagappan
    Additions 5,10,868 -
    Add : Share of Profit (50%) 84,786 10,868
    Less : Drawings - -
    By Closing Balance 5,95,654 10,868

    11,91,308 21,736

    Note 3 - Trade Receivable


    Trade Receivables 5,56,850 70,226

    5,56,850 70,226
    Note 4 - Cash and Cash Equivalents
    Cash on Hand 2,56,850 55,624
    Balance with Bank 8,560 5,746

    2,65,410 61,370

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