Question :
Following is the extract From the balance sheets of Poorva Ltd.
|
Liabilities |
31-03-2022 |
31-03-2021 |
|
Surplus i.e balance in statement of profit and loss |
230000 |
190000 |
|
Proposed Dividend |
60000 |
40000 |
|
Dividend Payable |
9000 |
- |
Net Profit before tax and Extraordinary items will be :
Option 1: Rs.1,90,000
Option 2: Rs.40,000
Option 3: Rs.1,00,000
Option 4: None of the above
Answer (1)
12th Jan, 2024
Correct Answer: Rs.1,00,000
Solution :
| Net Profit Before tax | |||
| Surplus i .e. Balance in Profit and loss (Closing) | 230000 | ||
| Less |
|
190000 | |
| 40000 | |||
| Add | Proposed Dividend during the Year | 60000 | |
| Net Profit before tax and Extra ordinary Item | 100000 |
Hence the correct answer is option 3.
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