Question

Name of Student :
Roll No.
S.Y.B.Com Sem IV: AFM - TV: Assignment -3
Ascertainment of Profit Prior to Incorporation
blem: 1
5,20,000
XYZ Limited was incorporated on 1st July, 2017 to acquire the business from 1 April, 2017. It
ending 31 March, 2018 is as under:
Particulars
Particulars
To Office Salaries
60.000 By Gross Profit b/f
To Selling Commission
78,000
To Carriage Outward
42.250
To Rent and Taxes
1.20,000
To Debenture Interest
25,400
To Printing and Stationary
15.000
To Advertising Expenses
65.000
To Net Profit
1,14,350
5,20,000
Additional Information :
Sales for the pre-incorporation period was @ 5,00.000 per month Total sales for the year ende
314 March, 2018 was 65,00,000
Prepare Profit and Loss Alc in the Columnar form for the year ending 31" March, 2018 allocatio
various items on suitable basis in the pre-incorporation and post-incorporation period
October, 2012 (10 Vark
5,20,000​

Answer 1

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Answer 2

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