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STATE & EXPLAIN THE IMPACT OF GLOBAL FINANCIAL CRIS ON
CEMENT SECTOR IN INDIA:
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STATE & EXPLAIN THE IMPACT OF GLOBAL FINANCIAL CRIS ON CEMENT SECTOR IN INDIA:
Income Tax Department sends cheque for INR 2 Crore as Refund after completion of Assessment for A.Y.2011 - 2012 to a Company. As per IT Return filed for this year I.T. due to Government was INR 60 Lac but was assessed at INR 70 Lac. TDS due to Company was INR 3 Crore which was admitted as INR 2.7 Crore by Government. Government also adjusts Tax dues for A.Y. 2009 - 2010 of INR 40 Lac which was disputed earlier by the Company and Appeal was lying with the CIT. Government pays Interest to the Company amounting to INR 40 Lac. Provision for Income Tax made by the Company in its accounts for F.Y. 2010 - 2011 (A.Y. 2011 - 2012) was INR 50 Lac. What would be the Journal Entry at the time of receipt of Refund of INR 2 Crore from the Government in A.Y. 2014 - 2015 in the books of the Company?
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financial statement of company sales(1,00,000 units @ Rs.10/-) 10,00,000 Variable costs 5,00,000 Contribution 5,00,000 Fixed costs 3,00,000 Net profit 2,00,000 p/v ratio 50% BEP 6,00,000 Margin of safety ratio 4,00,000 If the price increases by 10% what shall be the new p/v ratio and BEP? If the price increases by 10% is accompanied by a reduction in volume by 12%,what shall be the effect on BEPand profit?
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