Prepare a forecast of Profit/Loss account for the ensuing year.
CS Executive · Corporate Accounting and Financial Management · PYQS · December 2023
Prepare a forecast of Profit/Loss account for the ensuing year.
Answer & Explanation:
Forecasted Profit/Loss Account of XYZ Ltd. for the ensuing year Particulars Amount (₹) Particulars Amount (₹) To Material and Components (6,000 units * ₹ 3,000) 1,80,00,000 By Sales (6,000 units * ₹ 5,000) 3,00,00,000 To Direct Labour (6,000 units * ₹ 500) 30,00,000 To Overheads (6,000 units * ₹ 1,000) 60,00,000 To Gross Profit c/d. 30,00,000 Total 3,00,00,000 Total 3,00,00,000 To Interest on debentures (10% of ₹ 50,00,000) 5,00,000 By Gross Profit b/d. 30,00,000 To Net Profit c/d. 25,00,000 Total 3,00,00,000 Total 3,00,00,000
Topics: Financial Management
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