Question

Explain the difference between financial accounting and financial reporting concepts with examples (Non-anonymous question )
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2Following is the information to find out net profit and to prepare Balance sheet as on 31st March, 2019.
Amount ₹ in Crores
Equity share capital 1000
12% Investments 100
Preference share capital 25
Accounts Receivables 300
P&L A/c 850
Cash on hand 25
8% Debentures 100
Cash at bank 75
6% Loan 25
Stock (as on 1/4/2018) 300
Creditors 150
Stock (as on 31/3/2019) 50
Bills Payable 350
Purchases 500
Bank Overdraft 100
Sales 1200
Goodwill 102.5
Office Expenses 250
Plant & Machinery 500
Manufacturing Expenses 500
Land & Buildings 1200
(i) Charge Depreciation @ 3% on P&M and L&B (ii) Goodwill is unchanged (iii) Interest needs to be calculated and charged​

Answer 1

Answer:

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