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Amount (Rs.)
Sources of Funds
Shareholder's Funds
Share Capital 112,650
11265070 Equity Shares of Rs. 10 each
Reserves and Surplus
Capital Reserve 2,000
Share Premium Account 94,990
Investment Allowance Reserve 1,225
Balance in P & L 239,564 337,779
Loan Funds
Secured Loans from Financial Institutions 1,102
Unsecured Loan from Banks 270,000 271,102
Total 721,531
Application of Funds
Fixed Assets
Leasehold Land 32,639
Improvements to Leasehold land 4,422
Less Accumulated Depreciation 776 3,646
Other Fixed Assets
Gross Block 338,435
Accumulated Depreciation 153,181 185,254
Capital Work in Progress 7,641
Investments 16
Net Current Assets
Inventories
Raw Material 49,535
Work in Progress 8,489
Finished Goods 175,077
Store, spares and packing materials 8,179 241,280
Sundry Debtors 402,594
Less provision for doubtful debts 2,990 399,604Cash 90,207
Advance Excise Duty 19,918
Advance Income Tax 90,951
Total Current Assets 841,960
Less Current Liabilities and Provisions
Trade Creditors 253,916
Provision for Tax 96,335 350,251 491,709
Blance Sheet as of 31st December, 1999
Birla 3M Limited
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Miscellaneous Expenditure 626
Total 721,531
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29908567
2382
2108
11831
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Amount (Rs.)
Interest Received (After Tax Deducted at Source, Rs. 255) 4,351
Commision Received 2,245
Export Incentives 1,437
Miscellaneous Income 87Bad Debts Written Off in the past years, recovered 2,108
Proceeds from sale of fixed assets (Gross Value Rs. 5,544 and
Accumulated Depreciation Rs. 1,394) 2,801
Receipts from Debtors 1,955,394
Secured Loans from Fis 51,215
Unsecured Loan taken from banks 110,000
2,129,638
Amount (Rs.) Amount (Rs.)
Purchases Closing Stock
Finished Goods 1,054,428 229,423
Raw Material 266,626 60,889
Stores and Spares and packing material 30,679 9,352
Work in Progress 14,136
Amount (Rs.)
Power Fuel and Water 13,957
Salaries Wages and Bonus - Manufacturing 60,069
Salaries - Administrative 81,600Rent, rates and taxes - Manufacturing 61,468
Repairs - plant and Machinery 4,846
Repairs - Others 8,256
Communication, Travel and Conveyance 54,898
Insurance and Legal Charges 23,606
Advertisement and Sales Promotion 47,118
Other Sundry Expenses 61,836
Interest to Banks 32,359
Excise duty Paid 95,743
Advance Tax Paid to IT Department 90,326
Payment to Creditors 1,292,051
Purchase of freehold Land 3,022
Improvements to Land 27,554
Purchase of fixed assets 198,559
2,157,268
Amount (Rs.)
Provision of Doubtful Debts to be created 8,567
Writeoff of bad debts 2,382
Cash
Purchases and Inventory
Paid in Cash
Adjustments to be considered
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Balance of advance excise duty at the end of the year 16,421
Depreciation for the year - land improvements 2,342
Depreciation of other fixed assets 45,208
Writeoff of Miscellaneous Expenditure for the year 501
Interest Payable 8,285
Taxation to be provided for the year 92,938
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-27,630
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Sales Sundry Debtors
Sales
Interest Received Cash
Tax Deducted At Source
Other Income
Commision Received Cash
Other IncomeExport Incentives Cash
Other Income
Miscellaneous Income Cash
Other Income
Sale of Fixed Assets Cash
Accumulated Depreciation
Fixed Asset
Loss on sale
Receipts from Debtors Cash
Sundry Debtors
Secured Loans Cash
Secured Loan
Unsecured Loans Cash
Unsecured Loan
Cost of Goods Cost of Goods
Inventory Used
Inventory Purchased
Other Purchases
Cash
Sundry Creditors
Other Expenses paid in cash Salaries - Administrative
Cash
Repairs - Others
Cash
Communication, Travel and Conveyance
Cash
Insurance and Legal Charges
Cash
Advertisement and Sales Promotion
Cash
Other Sundry ExpensesCash
Interest to Banks Interest Expense
Cash
Interest Payable
Excise Duty Paid Excise Duty Expenses for the year
Cash
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Advance Excise Duty
Tax Payments Tax Expense
Tax Payable
Advance Tax Paid
Cash
Purchase of Free hold Land Freehold Land
Freehold land from lease
Leasehold landCash
Improvements to land Land Improvements
Cash
Depreciation on Land Improvements Depreciation Expense on Land Improvements
Accumulated Depreciation on Land Improvements
Purchase of Fixed Assets Fixed Assets
Cash
Depreciation on Fixed Assets Depreciation Expense on Fixed Assets
Accumulated Depreciation on Fixed Assets
Provision of Doubtful Debt Provision for Bad Debt Expense
Provision for Bad DebtWriteoff of Bad Debts Provision of Bad Debt
Sundry Debtors
Bad Debts Recovered Sundry Debtors
Provision for Bad Debt
Cash
Sundry Debtors
Writeoff of Miscellaneous Expenditure Miscellaneous Expenditure Written Off
Miscellaneous Expenditure
Transfer of Capital Work in Progress Fixed Assets
Capital Work in Progress
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Debit Credit
2,084,706
2,084,706
4,351
255
4,606
2,245
2,2451,437
1,437
87
87
2,801
1,394
5,544
1,349
1,955,394
1,955,394
51,215
51,215
110,000
110,000
1,419,553
1,419,553
1,351,733
140,340
1,432,391
59,682
81,600
81,600
8,256
8,256
54,898
54,898
23,606
23,606
47,118
47,118
61,83661,836
40,644
32,359
8,285
99,240
95,743
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3,497
92,938
92,938
90,326
90,326
3,022
4785
4,7853,022
27,554
27,554
2,342
2,342
198,559
198,559
45,208
45,208
8,567
85672,382
2,382
2,108
2,108
2108
2,108
501
501
7,467
7,467
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Cost of Goods Sold
Raw material Opening Stock Purchased
49,535 266,626
Stores Spares and Packing Material 8,179 30,679
WIP
8,489
RM Consumed 255,272
Stores Spares and Packing 29,506
Power Fuel and water 13,957
Salaries Wages and Bonus 60,069
Rent, Rates and Taxed 61,468
Repairs Plants and Machinery 4,846
Total 425,118
Finished Goods 175,077 1,473,899
Excise Duty 19,918 95,743
Advance Tax 90,951 90,326
Working Note : 1 Cost of Goods Sold
Cost of Goods Manufactured (working note 1A)
Opening balance of work in process 8489
Raw Material Consumed 255272
Stores and Spares and Packing Material 29506
Power, Fuel and Water 13957
Salaries, Wages and Bonus 60069
Rent, Rates and Taxes 61468
Repairs - Plant and Machinery 4846
433607
Closing Balance of Work in process -14136
Cost of Goods Manufactured 419471
Opening stock of Finished Goods 175077Cost of Goods Manufactured 419471
Purchase of finished goods 1054428
Value of goods available for sales 1648976
Closing stock of Finished Goods -229423
Cost of Goods Sold during the year 1419553
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Closing Stock Cost
60,889 255,272
9,352 29,506
14,136 419,471
229,423 1,419,553
16,421 99,240
92,938
0
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Opening Balance
Sales 0
Other Income 0
Cost of Goods 0
Excise Duty Expense 0
Other Expenses 0Depreciation - land Improvements 0
Depreciation - Fixed Assets 0
Loss of Sale of Fixed Assets 0
Provision for Doubt Debts (Expense) 0
Miscellaneous Expenditure Written Off 0
Interest Expense 0
Income Tax Expense 0
Cash 90,207
Share Capital 112,650
Capital Reserve 2,000
Share Premium Account 94,990
Investment Allowance Reserve 1,225
Balance in P & L 239,564
Secured Loans from Financial Institutions 1,102
Unsecured Loan from Banks 270,000
Interest Payable 0
Freehold Land 0
Leasehold Land 32,639
Improvements to Leasehold land 4,422
Accumulated Depreciation on Leasehold Land 776Gross Block 338,435
Accumulated Depreciation 153,181
Capital Work in Progress 7,641
Investments 16
Inventories 241,280
Sundry Debtors 402,594
Provision for Doubtful Debts 2,990
Advance Excise Duty 19,918
Advance Income Tax 90,951
Trade Creditors 253,916
Provision for Tax 96,335
Miscellaneous Expenditure 626
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Debit Credit Debit
2,084,706
8,375
1,419,553 1,419,553
99,240 99,240
277,314 277,3142,342 2,342
45,208 45,208
1,349 1,349
8,567 8,567
501 501
40,644 40,644
92,938 92,938
2,129,638 2,157,268 62,577
0 0
0 0
0 0
0 0
0 0
0 51,215
0 110,000
8,285
7,807 7,807
0 4,785 27,854
27,554 31,976
0 2,342206,026 5544 538,917
1394 45,208
0 7467 174
0 0 16
1,492,073 1,419,553 313,800
2,086,814 1,959,884 529,524
2,382 10,675
3,497 16,421
90,581 181,532
59,682
92,938
501 125
8031925 8031925 3698379
0 0
Closin
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Credit
2,084,706
8,375
112,650
2,000
94,990
1,225
239,564
52,317
380,000
8,285
Account Receivables A/c 2382
(Act. Bad debt Written off)
3,118
196,995 Closing Balance 1128313665
11,283
313,598
189,273
3698379
Balance
Provision f
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Opening Balance 2990
Bad debt recovery 2108P&L A/c -Bad debt Exps. 8567
(Provision made during the year)
13665
or Bad debt A/c
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Amount (Rs.)
Sources of Funds
Shareholder's Funds
Share Capital 112,65011265070 Equity Shares of Rs. 10 each
Reserves and Surplus
Capital Reserve 2,000
Share Premium Account 94,990
Investment Allowance Reserve 1,225
Balance in P & L 344,989 443,204
Loan Funds
Secured Loans from Financial Institutions 52,317
Unsecured Loan from Banks 380,000 432,317
Total 988,171
Application of Funds
Fixed Assets
Freehold Land 7,807
Leasehold Land 27,854 35,661
Improvements to Leasehold land 31,976
Less Accumulated Depreciation 3,118 28,858
Other Fixed Assets
Gross Block 538,917
Accumulated Depreciation 196,995 341,922
Capital Work in Progress 174
Investments 16
Net Current Assets
Inventories
Raw Material 60,889Work in Progress 14,136
Finished Goods 229,423
Store, spares and packing materials 9,352 313,800
Sundry Debtors 529,524
Less provision for doubtful debts 11,283 518,241
Cash 62,577
Advance Excise Duty 16,421
Advance Income Tax 181,532
Birla 3M Limited
Blance Sheet as of 31st December, 1999
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Total Current Assets 1,092,571
Less Current Liabilities and Provisions
Trade Creditors 313,598
Provision for Tax 189,273 502,871
Interest Payable 8,285 581,415
Miscellaneous Expenditure 125
Total 988,171
0
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Gross Sales (Credit) 2,084,706
Less: Excise Duty 99,240
Net Sales 1,985,466 1,985,466
Less: Cost of Goods Sold (working note 1) 1,419,553Gross Margin 565,913
Add: Other Income
Interest Income 4,606
Commision Income 2,245
Export Incentives 1,437
Miscellaneous Income 87 8,375
574,288
Less: Expenses
Sales and Admin Expenses 277,314
Depreciation : Other Fixed Assets 45,208
Land Improvements 2,342
Provision for Doubtful debt 8,567
Loss on sale of Fixed Assets 1,349
Miscellaneous Expenditure Written Off 501 335,281
Profit before Interest and Tax 239,007
Less: Interest to banks 40,644
Profit before Tax 198,363
Less: Income Tax 92,938
Profit After Tax 105,425
Birla 3M Limited
Income Statement for the year ended 31st December, 2000
Particulars Amt.(Rs.)
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Debit Credit
Sundry Debtors (A/R) 2,084,706 Sales 2,084,706
Cash 1,955,394 Sundry Debtors (A/R) 1,955,394
Balance 4,040,100 4,040,100
Debit Credit
Debit Credit
Debit Credit
Debit Credit
Debit Credit
Debit Credit
Sales and Admin Expenses
Provision for Doubtful Debt
Interest To Bank
Sales A/C
Cost of Sales
Other Income
Excise Duty
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Debit Credit
Debit Credit
Selling of Fixed Assets
Income Tax Account
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Debit Credit
Debit Credit
Debit Credit
Debit Credit
Debit Credit
Land
Depreciation for Land Improvements
Fixed Assets
Depreciation for Fixed Assets
Inventories
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Debit Credit
Miscellaneous Expenditure
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