Calculate the Net Profit before Tax and Extraordinary items of Shiva Ltd from its Balance Sheet as at 31st March 2022:
| Particulars | Note No. | 31st March 2022 (₹) | 31st March 2022 (₹) |
| I. EQUITY AND LIABILITIES | |||
| 1. Shareholders’ Funds
a) Share Capital b) Reserves and Surplus (Surplus, i.e., Balance in Statement of Profit and Loss) |
1 | 5,00,000
2,00,000 90,000 20,000 50,000 |
5,00,000
1,45,000 50,000 10,000 30,000 |
| Total | 8,60,000 | 7,35,000 | |
| II. ASSETS | |||
| 1. Non-Current Assets
a) Property, Plant and Equipment, and Intangible Assets: -Property, Plant, and Equipment b) Non-Current Investments |
4,50,000 1,50,000
|
4,50,000 1,50,000
|
|
| 2. Current Assets | 2,60,000 | 1,85,000 | |
| Total | 8,60,000 | 7,35,000 |
Notes to Accounts
| Particulars | 31st March 2022 (₹) | 31st March 2022 (₹) |
| 1. Short-Term Provisions
Provision for Tax |
50,000 |
30,000 |
Additional Information:
i) Proposed Dividend for the years ended 31st March, 2021 and 2022 are ₹ 50,000 and ₹ 75,000 respectively.
ii) Interim Dividend paid during the year was ₹ 10,000.
(Ans:- Net Profit before Tax and Extraordinary items = ₹ 1,65,000)
Below is the correct solution of the above question.
