Case Study

PARTICULARS	DEBIT	CREDIT
PARTICULARS	DEBIT	CREDIT
Administration Expenses	1,85,320
Audit fee	50,000
Accounting Charges	30,000
Bank interest received		36,000
Bank Charges paid	15,865
Bank Interest paid	1,53,600
Bank Balance	56,320
Cash	24,963
Creditors:
Raj Enterprise		1,75,360
Sri Sai Private Limited		1,02,560
Raj Guru Private Limted		85,286

Debtors:
Suraj Private Limited	6,15,300
Ashok Enterprises	2,56,310
Chaithanya & Co	2,33,140

Depreciation	65,368
Electricity Charges	11,570
Furniture	2,56,300
Inventory	22,75,360
Jaikishan Salary payable		1,25,600
Income tax Expenses	1,49,009
Kishore Salary payable		1,75,630
Loan from directors		5,00,000
Likith Salary payable		35,000
Manjunath salary payable		16,000
Naveen Salary payable		20,000
Overdraft from HDFC Bank
Paid up Share capital		5,00,000
Plant and Machinery	2,20,000
Professional Charges	38,500
Professional charges payable		9,500
Provision for Income Tax		1,49,009
Purchase	32,75,630
Rent	2,40,000
Revaluation reserve		3,15,000
Salary and wages	3,45,600
Sale of product		42,53,040
Service income		10,80,500
Terminal loan from Canara Bank		9,38,320
Water charges	18,650

	85,16,805	85,16,805

Closing Stock	18,32,620

PARTICULARS	CLASSIFICATION
PARTICULARS	Whether BS / PL	Further Classification
Administration Expenses	Profit and Loss	Other Expenses
Audit fee	Profit and Loss	Other Expenses
Accounting Charges	Profit and Loss	Other Expenses
Bank interest received	Profit and Loss	Indirect Income / Other Income
Bank Charges paid	Profit and Loss	Finance Cost
Bank Interest paid	Profit and Loss	Finance Cost
Bank Balance	Balance Sheet	Current Assets
Cash	Balance Sheet	Current Assets
Creditors:
Raj Enterprise	Balance Sheet	Current Liabilities
Sri Sai Private Limited	Balance Sheet	Current Liabilities
Raj Guru Private Limted	Balance Sheet	Current Liabilities

Debtors:
Suraj Private Limited	Balance Sheet	Current Assets
Ashok Enterprises	Balance Sheet	Current Assets
Chaithanya & Co	Balance Sheet	Current Assets

Depreciation	Profit and Loss	Indirect Expenses
Electricity Charges	Profit and Loss	Other Expenses
Furniture	Balance Sheet	Fixed Assets
Inventory	Balance Sheet	Current Assets
Jaikishan Salary payable	Balance Sheet	CL – Short Term Provision
Income tax Expenses	Profit and Loss	Indirect Expenses
Kishore Salary payable	Balance Sheet	CL – Short Term Provision
Loan from directors	Balance Sheet	NCL – Long term borrowings
Likith Salary payable	Balance Sheet	CL – Short Term Provision
Manjunath salary payable	Balance Sheet	CL – Short Term Provision
Naveen Salary payable	Balance Sheet	CL – Short Term Provision
Overdraft from HDFC Bank	Balance Sheet	Current Liabilities
Paid up Share capital	Balance Sheet	Shareholder’s Fund
Plant and Machinery	Balance Sheet	Fixed Assets
Professional Charges	Profit and Loss	Other Expenses
Professional charges payable	Balance Sheet	CL – Short Term Provision
Provision for Income Tax	Balance Sheet	CL – Short Term Provision
Purchase	Profit and Loss	Expense – Cost of material purchased
Rent	Profit and Loss	Other Expenses
Revaluation reserve	Balance Sheet	Shareholder’s Fund
Salary and wages	Profit and Loss	Employee benefit expense
Sale of product	Profit and Loss	Revenue – Revenue from Operations
Service income	Profit and Loss	Revenue – Revenue from Operations
Terminal loan from Canara Bank	Balance Sheet	CL – Short Term Borrowings
Water charges	Profit and Loss	Other Expenses

Finc Power Private Limited

Balance Sheet as at 31st March, 20XX
S. No.	Particulars	Notes to Accounts	For the year ended 31-03-20XX
S. No.	Particulars	Notes to Accounts	Amount (Rs.)

A	Equity and Liabilities:

1	Shareholder’s Fund:
	a. Share Capital	1	5,00,000
	b. Reserves and Surplus	2	6,62,688

2	Share application money pending allotment

3	Non – Current Liabilities:
	a. Long term borrowings	3	5,00,000

4	Current Liabilties:
	a. Short term borrowings	4	9,38,320
	b. Trade Payables	5	3,63,206
	c. Other Current liabilties	6	3,81,730
	d. Short term provisions	7	1,49,009

	TOTAL (A)		34,94,953

B	ASSETS:

1	Non-current assets:
	(a) Fixed assets
	(i) Tangible assets	8	4,76,300

2	Current assets:
	a. Inventories	9	18,32,620
	b. Trade receivables	10	11,04,750
	c. Cash and cash equivalents	11	81,283

	TOTAL (B)		34,94,953

For Auditor Co.			For Finc Power Private Limited
(Chartered Accountants)



XXXX			XXXXX
(Chartered Accountant)			(Director)

Date:			Date:
Place: Bengaluru			Place: Bengaluru

Finc Power Private Limited

Statement of Profit and Loss for the year ending 31 March, 20XX
S. No.	Particulars	Notes No.	For the year ending 31 March, 20XX
S. No.	Particulars	Notes No.	Amount (Rs.)
A	Revenue:
	Revenue from operations	12	53,33,540
	Other income	13	36,000
	Total revenue		53,69,540

B	Expenses:
	(a) Cost of materials consumed	14	32,75,630
	(b) Purchases of stock-in-trade
	(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	15	4,42,740
	(d) Employee benefits expense	16	3,45,600
	(e) Finance costs	17	1,69,465
	(f) Depreciation and amortisation expense	18	65,368
	(g) Other expenses	19	5,74,040
	Total expenses		48,72,843

C	Profit / (Loss) before exceptional and extraordinary items and tax (A – B)		4,96,697

D	Exceptional items		–

E	Profit / (Loss) before extraordinary items and tax (C – D)		4,96,697

F	Extraordinary items		–

G	Profit / (Loss) before tax (E – F)		4,96,697

H	Tax expense:
	Current Tax		1,49,009
	Deferred Tax		–

I	Profit / (Loss) after tax		3,47,688

J	Earning Per Share
	Basic
	Diluted


For Auditor Co.			For Finc Power Private Limited
(Chartered Accountants)



XXXX			XXXXX
(Chartered Accountant)			(Director)

Date:			Date:
Place: Bengaluru			Place: Bengaluru

Notes to Accounts (Balance Sheet):

Notes to Accounts	Particulars	For the year ended 31-03-20XX
		Amount (Rs.)

1	Share Capital:
	Paid up Share capital	5,00,000
		5,00,000

2	Reserves & Surplus:
	Revaluation reserve	3,15,000
	Profit & Loss A/c	3,47,688
		6,62,688

3	Long Term Borrowings:
	Loan from directors	5,00,000
		5,00,000

4	Short Term Borrowings:
	Terminal loan from Canara Bank	9,38,320
		9,38,320

5	Trade Payables:
	Raj Enterprise	1,75,360
	Sri Sai Private Limited	1,02,560
	Raj Guru Private Limted	85,286
		3,63,206

6	Other Current Liabilities:
	Overdraft from HDFC Bank	–
	Jaikishan Salary payable	1,25,600
	Kishore Salary payable	1,75,630
	Likith Salary payable	35,000
	Manjunath salary payable	16,000
	Naveen Salary payable	20,000
	Professional charges payable	9,500

		3,81,730

7	Short-term provisions:
	Provision for Income Tax	1,49,009
		1,49,009

8	Tangible assets:
	Furniture	2,56,300
	Plant and Machinery	2,20,000
		4,76,300

9	Inventories:
	Closing Stock	18,32,620
		18,32,620

10	Trade receivables:
	Suraj Private Limited	6,15,300
	Ashok Enterprises	2,56,310
	Chaithanya & Co	2,33,140
		11,04,750

11	Cash and cash equivalents:
	Bank Balance	56,320
	Cash	24,963
		81,283

Notes to Accounts (Profit & Loss):

Notes to Accounts	Particulars	For the year ending 31 March, 20XX
Notes to Accounts	Particulars	Amount (Rs.)

12	Revenue from Operations:
	Sale of product	42,53,040
	Service income	10,80,500
		53,33,540

13	Other Income:
	Bank interest received	36,000
		36,000

14	Cost of materials consumed:
	Purchase	32,75,630
		32,75,630

15	Changes in inventories of finished goods, work-in-progress and stock-in-trade:
	Inventory	22,75,360
	Less: Closing Stock	(18,32,620)
		4,42,740

16	Employee benefit expense:
	Salary and wages	3,45,600
		3,45,600

17	Finance costs:
	Bank Charges paid	15,865
	Bank Interest paid	1,53,600
		1,69,465

18	Depreciation and amortisation expense:
	Depreciation	65,368
		65,368

19	Other expenses:
	Administration Expenses	1,85,320
	Audit fee	50,000
	Accounting Charges	30,000
	Rent	2,40,000
	Electricity Charges	11,570
	Professional Charges	38,500
	Water charges	18,650
		5,74,040

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