fm cdc (formats-09)

8/12/2019 FM CDC (Formats-09)

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Final Accounts of Joint Stock CompaniesUnder the Companies Act, the Profit and Loss account of a company shall be

prepared in compliance with the requirements of Part II of Schedule VI and the Balance

Sheet of a company shall be prepared in compliance with the form and contents

prescribed in Part I of the said Schedule or as near thereto as circumstances admit or suchother form as may be permitted by the Central o!t" either #enerally or in any particular

case"

$he followin# is an illustrati!e Profit and Loss Account%&'ori(ontal)

****************** Co" Ltd",

Profit and Loss Account for the year ended----------

+r" Cr"

Particulars s" Particulars s"$o -penin# stoc. By Sales

$o Purchases By Closin# stoc. $o /a#es

$o 0uel e1penses$o Carria#e e1penses

$o -ther factory e1penses

$o ross profit c2d

By ross Profit b2d ********$o Salaries &administrati!e) ********* -ther Income

$o -ffice rent, rates and ta1es ******** By +iscount recei!ed ********

$o Printin# 3 stationery ******** By Commission recei!ed ********$o $elephone char#es ********$o Posta#e and tele#rams ******** By interest earned ********

$o Insurance ******** By ent of property let*out ********

$o Audit fees ******** By +i!idend from shares ********$o Le#al char#es ********

******** By profit on sale of machinery*******

By Profit on sale of in!estments*****$o +epreciation on4

-ffice equipment *******

-ffice furniture *******

-ffice buildin# *******Selling and distribution expenses4

$o Salaries &sellin# staff) *******

$o Ad!ertisement *******$o odown rent *******

$o Carria#e outwards *******

$o Bad debts *******$o pro!ision for bad debts *******


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$o Sellin# commission *******

Financial expenses:

$o ban. char#es *******$o Interest on loans *******

Abnormal losses4

$o Loss on sale of machinery *******$o loss on sale of in!estment *******

$o loss by fire *******

$o $a1 pro!ision ******$o 5et profit after ta1 for the year *******

Part I of Schedule VI to the Companies Act, prescribes two alternati!e forms of Balance

Sheet *** hori(ontal and !ertical"

Horizontal Form (simplified)

----------------- Co Ltd!

"ALA#C$ SH$$% AS A%----

Liabilitues Amount Assets AmountShare capital 0i1ed assets

eser!es 3 Surplus In!estments

Secured loans Current assets 3

Unsecured loans Loans and ad!ancesCurrent liabilities 3 6iscellaneous e1penditure

Pro!isions +ebit balance of P3 L a2c

*********** *********************** *************


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&ertical form

----------------- Co Ltd!

"ALA#C$ SH$$% AS A%----

Schedule Amount

5o"

&7) &8) &9)7" Sources of 0unds4 *** ****

7) Shareholders funds4

a) Capital ** **b) eser!es and Surplus ** **

8) Loan 0unds4

a) Secured loans ** **b) Unsecured loans ** **

$-$ALII" Application of 0unds4

7) 0i1ed Assets4

a) ross bloc. ** **b) Less +epreciation ** **

c) 5et bloc. ** **

d) Capital wor.*in*pro#ress ** **

8) In!estments ** **9) Current assets, loans and

ad!ances4

a) In!entories ** **b) Sundry +ebtors ** **

c) Cash and Ban. balances ** **

d) -ther current assets ** **e) Loans and Ad!ances ** **

Less4 Current liabilities an

Pro!isions ** **

a) Liabilities ** **b) Pro!isions ** **

5et Current Assets4

9) &a) 6iscellaneous e1penditureto the e1tent not written*

off or ad:usted ** **

&b) Profit and Loss Account ** **$-$AL


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' Company Ltd

Profit and Loss Account for the year ended----------

s" s"

s"Sales4

Cash

CreditLess4 eturns

5et Sales

Less4 Cost of #oods sold

ross profitLess4 -peratin# e1penses

eneral and administrati!e e1penses

Sellin# e1penses

5et operatin# profitAdd4 5on*operatin# Incomes4

Less4 5on*operatin# e1penses5et profit before interest and ta1

Less4 Interest on debentures

Less4 Pro!ision for ta1ation5et profit after ta1

P lL appropriation Account

s" s5et Profit b2d from pre!ious year

Add4 5et profit of Current year

Add4 ;1cess pro!ision for ta1 for pre!ious year written*bac.Add4 /ithdrawal from eser!es

$otal

Less4 $ransfer to reser!esLess4 Interim di!idend

Less4 Proposed di!idend

Less4 +i!idend ta1

Balance carried to B2S"

#%$* At the foot of the Company B2S a list of contin#ent liabilities may be #i!en"

;#4 Arrears of di!idend on Cumulati!e Preference SharesBills discounted with Ban. and not due

Claims a#ainst the company2 disputed liabilities not ac.nowled#ed as debt"


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+llustrati,e Financial Statements

Prosperous Ltd! "analore

P L A.C for the year ended /0/12 (3sin lakhs)

Income

Sales &ross) 7,===5et Sales 799,===

-ther Income 9,===

Increase in Stoc. 7,===79>,===

;1penditureaw materials consumed ?=,===

Stores consumed ?,===

Power 3 0uel 8,===

-ther mf#" char#es 7=,===Salaries, wa#es 3 Bonus 8,===

Administration e1penses 8,@==

Sellin# 3 +istribution e1penses 9,@==Interest 3 0inancin# e1penses 7,===

+epreciation @,===

77


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"alance Sheet as at /0/12 (3s +n lakhs)

Sources of funds

7" Shareholders funds &a) Share Capital 7=,===

&b) eser!es 3 Surplus >=,===

?=,===

8" Loan funds4&a) Secured loans >,===

&b) Unsecured loans 9=,===

9>,===

%otal 77>,===

Application of funds47" 0i1ed Assets4

ross 78=,===

&*) +epreciation

fm cdc (formats-09)

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