Model: Future maintainable profit For the year ended 31 March 2010, a public limited company…

Model: Future maintainable profit For the year ended 31 March 2010, a public limited company reported a profit of Rs.14,00,00,000 after paying income tax @ 30%. It was found that the year’s income included Rs.1,00,00,000 for a claim lodged in 2007–08 for which no entry had been passed then. The year 2008–09 was a normal year for trading concern. The company plans to launch a new product and the following are the estimates in respect of this

Sales

Expenditure on raw material

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12,00,00,000

Wages

5,00,00,000

Share of fixed expenses (including an expected increase of Rs.1,50,00,000)

4,50,00,000

 

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