birla 3m workings

8/13/2019 Birla 3M Workings

1/27

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


2/27

Miscellaneous Expenditure 626

Total 721,531


3/27

29908567

2382

2108

11831


4/27

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


5/27

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


6/27

-27,630


7/27

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


8/27

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


9/27

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


10/27

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


11/27

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


12/27


13/27

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


14/27

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




Balance in P & L 239,564


Unsecured Loan from Banks 270,000

Interest Payable 0

Freehold Land 0

Leasehold Land 32,639


Accumulated Depreciation on Leasehold Land 776Gross Block 338,435

Accumulated Depreciation 153,181

Capital Work in Progress 7,641

Investments 16

Inventories 241,280


Provision for Doubtful Debts 2,990




Provision for Tax 96,335



15/27

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


16/27

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


17/27

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


18/27

Amount (Rs.)

Sources of Funds

Shareholder's Funds

Share Capital 112,65011265070 Equity Shares of Rs. 10 each

Reserves and Surplus




Balance in P & L 344,989 443,204

Loan Funds


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


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


Less provision for doubtful debts 11,283 518,241

Cash 62,577



Birla 3M Limited

Blance Sheet as of 31st December, 1999


19/27

Total Current Assets 1,092,571

Less Current Liabilities and Provisions


Provision for Tax 189,273 502,871

Interest Payable 8,285 581,415


Total 988,171

0


20/27

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.)


21/27

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


22/27

Debit Credit

Debit Credit

Selling of Fixed Assets

Income Tax Account


23/27

Debit Credit

Debit Credit

Debit Credit

Debit Credit

Debit Credit

Land

Depreciation for Land Improvements

Fixed Assets

Depreciation for Fixed Assets

Inventories


24/27


25/27

Debit Credit

Miscellaneous Expenditure


26/27


27/27

birla 3m workings

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