Sarvotham Ltd was incorporated on 1/10/2011 with an authorized capital of Rs 50,000 and took over the running business of Uttam brothers on 1/11/2012. The followingis the Profit and Loss account for the year ended 30th September 2012. Sales from 1October to 31 December 60000Sales from 1 January to 30 September 190000 Cost of sales for the year 154000Administrative expenses 17680Selling commission 8750 Goodwill written off 2000Interest to vendors (amount paid on 1/2/2013) 3730 Distribution expenses 12500 (60%)variable Preliminary expenses 3300Debenture interest 3200 Depreciation 4440Directors' fees 1000The company deals with only one product and the cost of sales per unit was reducedby 10% in the post incorporation period compared to pre incorporation period. Preparestatement showing apportionment of profits.

Sarvotham Ltd was incorporated on 1/10/2011 with an authorized capital

1.	Sarvotham Ltd was incorporated on 1/10/2011 with an authorized capital of Rs 50,000 and took over the running business of Uttam brothers on 1/11/2012. The followingis the Profit and Loss account for the year ended 30th September 2012. Sales from 1October to 31 December 60000Sales from 1 January to 30 September 190000 Cost of sales for the year 154000Administrative expenses 17680Selling commission 8750 Goodwill written off 2000Interest to vendors (amount paid on 1/2/2013) 3730 Distribution expenses 12500 (60%)variable Preliminary expenses 3300Debenture interest 3200 Depreciation 4440Directors' fees 1000The company deals with only one product and the cost of sales per unit was reducedby 10% in the post incorporation period compared to pre incorporation period. Preparestatement showing apportionment of profits.
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