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  • Balance Sheet-Priyanka

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    Priyanka Kumari's gross income from business for the 2019-20 financial year was Rs. 250,000 with business expenditures of Rs. 25,000, resulting in a net income of Rs. 225,000. She had no tax on her income or tax payable. Her balance sheet as of March 31, 2021 shows total capital and liability of Rs. 571,000 consisting of old capital brought forward of Rs. 321,000 and income of Rs. 250,000, with total assets and properties also of Rs. 571,000 consisting of furniture, machines, ornaments, utensils, closing stock, and cash in hand.

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    Priyanka Kumari's gross income from business for the 2019-20 financial year was Rs. 250,000 with business expenditures of Rs. 25,000, resulting in a net income of Rs. 225,000. She had no tax on her income or tax payable. Her balance sheet as of March 31, 2021 shows total capital and liability of Rs. 571,000 consisting of old capital brought forward of Rs. 321,000 and income of Rs. 250,000, with total assets and properties also of Rs. 571,000 consisting of furniture, machines, ornaments, utensils, closing stock, and cash in hand.

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    4 views1 page

    Balance Sheet-Priyanka

    Uploaded by

    dhanbad3
    Priyanka Kumari's gross income from business for the 2019-20 financial year was Rs. 250,000 with business expenditures of Rs. 25,000, resulting in a net income of Rs. 225,000. She had no tax on her income or tax payable. Her balance sheet as of March 31, 2021 shows total capital and liability of Rs. 571,000 consisting of old capital brought forward of Rs. 321,000 and income of Rs. 250,000, with total assets and properties also of Rs. 571,000 consisting of furniture, machines, ornaments, utensils, closing stock, and cash in hand.

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    PRIYANKA KUMARI

    SABALPUR ,P.O- K.G.ASHRAM

    DHANBAD,JHARKHAND(828109)

    PAN NO.-CQBPK2977H

    Financial Year:2019-20

    A.Gross Income from Business-250,000/-

    B.Business Expenditure -25000/-

    C.Net Income -225000/-

    D.Tax on Income -Nil

    E.Tax Payble -Nil

    Balance Sheet as on 31st March2021

    Financial
    Year:2019-20

    Capital & Liability- Amount Asset &Properties Amount

    Old Capital B/F 321000/- Furniture 65000/-

    Add Income 250000/- Machine and Eq. 170000/-

    Ornaments 52000/-

    Utencil 118000/-

    Closing stock 145000/-

    Cash in Hand 21000/-

    Total 571000/- Total 571000/-

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