The profit of Philips Ltd. after appropriations was Rs. 2,50,000. This profit arrived at after taking into consideration the following items: S. No.ParticularsAmount1.Depreciation on Fixed Tangible Assets (Machinery)20,0002.Loss on Sale of Fixed Tangible Assets (Furniture)2,0003.Goodwill written off9,0004.Provision for Taxation35,0005.Transfer to General Reserve17,5006.Gain on Sale fo Fixed Tangible Assets (Machinery)8,000 Additional Information: Particulars31-03-201631-02-2017Trade Receivables (All good) 50,00062,000Trade Payables45,00055,000Inventory12,0008,000Income Received in Advance8,000− Outstanding Expenses6,0003,000Prepaid Expenses− 5,000

The profit of Philips Ltd. after appropriations was Rs. 2,50,000. This

1.	The profit of Philips Ltd. after appropriations was Rs. 2,50,000. This profit arrived at after taking into consideration the following items: S. No.ParticularsAmount1.Depreciation on Fixed Tangible Assets (Machinery)20,0002.Loss on Sale of Fixed Tangible Assets (Furniture)2,0003.Goodwill written off9,0004.Provision for Taxation35,0005.Transfer to General Reserve17,5006.Gain on Sale fo Fixed Tangible Assets (Machinery)8,000 Additional Information: Particulars31-03-201631-02-2017Trade Receivables (All good) 50,00062,000Trade Payables45,00055,000Inventory12,0008,000Income Received in Advance8,000− Outstanding Expenses6,0003,000Prepaid Expenses− 5,000
Answer» The profit of Philips Ltd. after appropriations was Rs. 2,50,000. This profit arrived at after taking into consideration the following items: $\begin{matrix} S. No. & Particulars & Amount 1. & Depreciation on Fixed Tangible Assets (Machinery) & 20, 000 2. & Loss on Sale of Fixed Tangible Assets (Furniture) & 2, 000 3. & Goodwill written off & 9, 000 4. & Provision for Taxation & 35, 000 5. & Transfer to General Reserve & 17, 500 6. & Gain on Sale fo Fixed Tangible Assets (Machinery) & 8, 000 \end{matrix}$ Additional Information: $\begin{matrix} Particulars & 31-03-2016 & 31-02-2017 Trade Receivables (All good) & 50, 000 & 62, 000 Trade Payables & 45, 000 & 55, 000 Inventory & 12, 000 & 8, 000 Income Received in Advance & 8, 000 & - Outstanding Expenses & 6, 000 & 3, 000 Prepaid Expenses & - & 5, 000 \end{matrix}$

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