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Profit Loss

The Vimlai Krushi Kendra's Trading, Profit & Loss Account for the period ending March 31, 2024, shows total income of Rs. 43,759,803.13, with a net profit of Rs. 691,007.59 after accounting for various expenses. The document includes notes on accounting methods, inventory valuation, depreciation, revenue recognition, and fixed assets. The proprietor certifies the accuracy of the information, which is also reviewed by a chartered accountant.

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18 views2 pages

Profit Loss

The Vimlai Krushi Kendra's Trading, Profit & Loss Account for the period ending March 31, 2024, shows total income of Rs. 43,759,803.13, with a net profit of Rs. 691,007.59 after accounting for various expenses. The document includes notes on accounting methods, inventory valuation, depreciation, revenue recognition, and fixed assets. The proprietor certifies the accuracy of the information, which is also reviewed by a chartered accountant.

Uploaded by

prasad
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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VIMLAI KRUSHI KENDRA

TRADING, PROFIT & LOSS ACCOUNT


FOR THE PERIOD ENDED ON 31st MARCH, 2024.

Particulars Amount Rs. Particulars Amount Rs.

To Opening Stock 5616465.00


By Sales 32988688.96
To Purchases 36644035.83
By Direct Income
To Direct Expenses Discount & Rate Difference 1827687.17
Fright & Purchase Exp 88994.24
By Closing Stock 8943427.00
To Gross Profit 1410308.06

Total Rs. 43759803.13 Total Rs. 43759803.13

To Indirect Expenses 719300.47 By Gross Profit 1410308.06


Accounting Charges 12000.00
Audit & legal fees 31000.00
Bank Charges 40839.91
Bank Interest 64785.00
Depreciation 165686.00
Electricity Expenses 20200.00
Interest Paid to Party 1433.00
Newspaper Expenses 1930.00
Petrol Expenses 53600.00
Printing & Stationery 19110.00
Round Up 5.56
Salaries & Wages 192000.00
Shop Expenses 56172.00
Travelling Expenses 30300.00
Vehicle Insurance 30239.00

To Net Profit 691007.59

Total Rs. 1410308.06 Total Rs. 1410308.06

I hereby certify that the above said As per Our report of even date,
information is true & correct. For RAHUL KRIPLANI & CO.
CHARTERED ACCOUNTANT
For VIMLAI KRUSHI KENDRA F.R.N 142612W

sd/- sd/-
………………Proprietor [CA RAHUL KRIPLANI…..PROPRIETOR]
Membership No. 171978
Date : 16-09-2024 UDIN: 24171978BJZYHO5077
Place: Akola
VIMLAI KRUSHI KENDRA
NOTES TO ACCOUNT FORMING A PART OF FINAL REPORT
1 METHOD OF ACCOUNTING (AS-1)
The books of accounts are maintained under mercantile system of accounting. However some petty expenses are
accounted for on cash basis.

2 VALUATION OF INVENTORIES (AS-2)


Inventories are Valued at Cost Price including Expenses or net realisable value whichever is less.They are taken and
valued by Proprietor.

3 DEPRECIATION (AS-6)
Depreciation has been charged in the books of accounts as per the rates prescribed u/s 32 of the Income Tax Act, 1961.

4 REVENUE RECOGNITION (AS-9)


Sales are accounted for as and when the bills are prepared and goods are delivered. Purchases are reflected at
purchase cost including expenses and/or installation charges and additions / deletions and / or purchases / sales.

5 FIXED ASSETS (AS-10)


Fixed assets are carried at book value less depreciation charged taking into consideration any additions or deletions
during the year.

6 SUNDRY DEBTORS, LOANS AND ADVANCES


Sundry Debtors / loans and advances are stated after writing off debts considered bad (if any).

7 ACCOUNTING FOR TAXES ON INCOME (AS-22)


The assessee has not followed AS-22 made mandatory by the ICAI.

I hereby certify that the above said As per Our report of even date,
information is true & correct. For RAHUL KRIPLANI & CO.
For VIMLAI KRUSHI KENDRA CHARTERED ACCOUNTANT
F.R.N 142612W
sd/-
………………Proprietor sd/-
Date : 16-09-2024 [CA RAHUL KRIPLANI…..PROPRIETOR]
Place: Akola Membership No. 171978

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