Question

All questions are compulsory for all Regular and Private students. Marks distribution for all students A limited liability company was incorporated on 14 July, 2019 in order to purchase a running business from 1" April, 2019 Following particulars are available from its record ay Total Sale 2019-20 Rs. 80.000 (HD) Sales from 1 April 2019 to 30 June, 2019 Rs. 20.000 dit Gross Profit for the whole year Rs. 30.000 () Total Expenses of 2019-20 (inchading Director's Fees of Rs. 1,000) Rs. 25,000 v Company's Share Capital Rs. 75,000. Find out profit prior to incorporation and after incorporation and prepare Statement of Protit and Loss in the books of this limited liability company​

Answer 1

Answer:

All questions are compulsory for all Regular and Private students. Marks distribution for all students A limited liability company was incorporated on 14 July, 2019 in order to purchase a running business from 1" April, 2019 Following particulars are available from its record ay Total Sale 2019-20 Rs. 80.000 (HD) Sales from 1 April 2019 to 30 June, 2019 Rs. 20.000 dit Gross Profit for the whole year Rs. 30.000 () Total Expenses of 2019-20 (inchading Director's Fees of Rs. 1,000) Rs. 25,000 v Company's Share Capital Rs. 75,000. Find out profit prior to incorporation and after incorporation and prepare Statement of Protit and Loss in the books of this limited liability company

Explanation:

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