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Published on: 04/10/2019
Financial Statement Analysis
Download CBSE Class 12th Standard CBSE Accountancy question papers, sample papers, important questions, and previous year solved papers in PDF format. Get free study materials, NCERT solutions, and exam preparation resources for Class 12th Standard CBSE Accountancy
Questions + Answers key
Take MCQ Accountancy Test
1.
Prepare common size income statement from the following Staement of profit and loss.
| Particulars | 31st March,2014 Amt(Rs) | 31st march,2015 Amt(Rs) |
|---|---|---|
| I.Income | ||
| Revenue from Operations(Net Sales) | 5,00,000 | 5,00,000 |
| Other Income | 5,000 | 5,500 |
| Total | 5,05,000 | 5,05,000 |
| II.Expenses | ||
| Purchase of Stock-in-trade | 3,25,000 | 3,50,000 |
| Changes in Inventories of Stock-in-trade | 25,000 | 24,000 |
| Employees Benefit Expenses | 40,000 | 49,000 |
| Other Expenses | 58,750 | 45,000 |
| III.Profit(I-II) | 56250 | 37500 |
| Total | 4,48,750 | 4,68,000 |
2.
From the following balance sheets of Sun Ltd as at 31st March, 2014 and 2015, prepare a common size balance sheet
| Particulars | Note No | 31st March,014 Amt(Rs) | 31st March,2015 Amt(Rs) |
|---|---|---|---|
| I.EQUITY AND LIABILITIES | |||
| 1.Shareholdrs' Funds | |||
| (a) Share Capital | 30,000 | 40,00,000 | |
| (b) Reserves and Surplus | 4,00,000 | 6,00,000 | |
| 2.Non-current Liablities | |||
| Long-term Browings | 10,00,000 | 12,00,000 | |
| 3.Current Liabilities | |||
| Trade Payables | 6,00,000 | 2,00,000 | |
| Total | 50,00,000 | 60,00,000 | |
| II.ASSETS | |||
| 1.Non-Current Assets | |||
| (a) Fixed Assets | |||
| (i) Tangible Assets | 30,00,000 | 40,00,000 | |
| (ii) Intengibla Assets | 6,00,000 | 2,00,000 | |
| 2.Current Assets | |||
| (a) Inventories | 10,00,000 | 12,00,000 | |
| (b) Cash and Cash Equivalents | 4,00,000 | 6,00,000 | |
| Total | 50,00,000 | 60,00,000 |
3.
From the following balance sheets of Varma Ltd, prepare comparative balance sheet.
| particulars | 31st March,2015 Amt(Rs) |
31st March,2014 Amt(Rs) |
|---|---|---|
| I.Equity and liabilities | ||
| 1.Shareholders' Funds | ||
| (a) Share Capital | 50,00,000 | 50,00,000 |
| (b) Reserves and Surplus | 12,00,000 | 10,00,000 |
| 2. Non-current Liabilities | ||
| Long-term Borrowings | 30,00,000 | 30,00,00 |
| 3. Current Liabilities | ||
| (a) short-term Browings | 4,80,000 | 4,50,000 |
| (b) Trade Payables | 4,50,000 | 4,00,000 |
| (c) Other Current Liabilities | 1,10,000 | 1,00,000 |
| (d) Short-term Provisions | 60,000 | 50,000 |
| Total | 1,03,00,000 | 1,00,00,000 |
| II. Assets | ||
| 1. Non-current Assets | ||
| (a) Fixed Assets(Tangible) | 72,00,000 | 60,00,000 |
| (b) Non-current Investments | 10,00,000 | 10,00,000 |
| 2. Current Assets | ||
| (a) Inventories | 11,00,000 | 15,00,000 |
| (b) Trade Receivables | 6,00,000 | 10,00,000 |
| (c) Cash and Cash Equivalents | 3,50,000 | 3,00,000 |
| (d) Other Current Assets | 50,000 | 2,00,000 |
| Total | 1,03,00,000 | 1,00,00,000 |
4.
Prepare comparative of Profit and loss from the following information.
| Particulars | 31st March,2014 Amt (Rs) | 31st March,2015 Amt(Rs) |
|---|---|---|
| Revenue from Operations(Sales) | 30,00,000 | 40,00,000 |
| Cost of Goods Sold or Cost of Revenue from Operations | 60% of Sales | 55% of Sales |
| Paid Wages | 25,000 | 30,000 |
| Operating Expenses | 20% of Gross Profit | 25% of Gross Profit |
| Incoming Tax | 40% | 40% |
5.
From the following statement of profit and loss of Fenox Ltd for the year ended 31st march,2015, prepare a comparative statement of profit and loss.
| Particulars | Note No | 2014-15(Rs) | 2013-14(Rs) |
|---|---|---|---|
| Revenue from Operations | 8.00,000 | 6,00,000 | |
| Other Incomes | 1,00,000 | 50,000 | |
| Expenses | 5,00,000 | 4,00,000 |
Rate of income tax was 40%
1.
Common size Income Statement
for the years ended 31st March,2014 and 2015
| particulars | Absolute Amount | Percentage of Revenue from Operations (Net Sales) | ||
|---|---|---|---|---|
| 2014 (Rs) | 2015 (Rs) | 2014 (%) | 2015 (%) | |
| I.Revenue from Operations(Net Sales) | 5,00,000 | 5,00,000 | 100.00 | 100.00 |
| II.Other Income | 5,000 | 5,500 | 1.00 | 1.10 |
| III.Total Revenue(I+III) | 5,05,000 | 5,05,500 | 101.00 | 101.10 |
| IV.Expenses | ||||
| (a) Purchase of Stock-in-trade | 3,25,000 | 3,50,000 | 65.00 | 70.00 |
| (b) Changes in Inventories of Stock-in-trade | 25,000 | 24,000 | 5.00 | 4.80 |
| (c) Employees Benefit Expenses | 40,000 | 49,000 | 8.00 | 9.80 |
| (d) other Expenses | 2,500 | 7,500 | 0.50 | 1.50 |
| Total Expenses | 3,92,5000 | 4,30,500 | 78.50 | 86.10 |
| V.Profit before Tax(III-IV) | 1,12,500 | 75,000 | 22.50 | 15.00 |
| (-) Provision for Tax | 56,250 | 37,500 | 11.25 | 7.50 |
| VI.Profit after Tax | 56,250 | 37,500 | 11.25 | 7.50 |
2.
Common Size Balance Sheet
as at 31st March,2014 and 2015
| Particulars | Absolute Amount | Percentage of Balance Sheet Total 2014(%) | Percentage of Balance Sheet Total 2015(%) | |
|---|---|---|---|---|
| 2014(Rs) | 2015(Rs) | |||
| I.EQUITY AND LIABILITIES | ||||
| 1.Shareholders' Funds | ||||
| (a) Share Capital | 30,00,000 | 40,00,000 | 60 | 66.7 |
| (b) Reserves and Surplus | 4,00,000 | 6,00,000 | 8 | 10.0 |
| 2.Non-current Liabilities | ||||
| Long-term Borrowings | 10,00,000 | 12,00,000 | 20 | 20.0 |
| 3.Current Liabilites | ||||
| Trade Payables | 6,00,000 | 2,00,000 | 12 | 3.3 |
| Total | 50,00,000 | 60,0,000 | 100 | 100 |
| II.ASSETS | ||||
| 1.Non-current Assets | ||||
| (a) Fixed Assets | ||||
| (i) Tangible Assets | 30,00,0000 | 40,00,000 | 60 | 66.7 |
| (ii) Intangible Assets | 6,00,000 | 2,00,000 | 12 | 3.3 |
| 2.Current Assets | ||||
| (a) Inventories | 10,00,000 | 12,00,000 | 20 | 20.0 |
| (b) Cash and Cash Equivalents | 4,00,000 | 6,00,000 | 8 | 10.0 |
| Total | 50,00,0000 | 60,00,000 | 100 | 100 |
3.
Comparative Balance Sheet
as at 31st March,2014 and 2015
| Particulars | Notew No. | 31st March,2014 Amt(Rs) | 31st March,2015 Amt(Rs) | Absolute Change (Increase or Decrease)(Rs) | Percentage Change (Increase or Decrease)(%) |
|---|---|---|---|---|---|
| I. EQUITY AND LIABILITIES | |||||
| 1.Shareholders' Funds | |||||
| (a) Share Capital | 50,00,000 | 50,00,000 | ........ | ........ | |
| (b) Reserves and Surplus | 10,00,000 | 10,00,000 | 2,00,000 | 20.00 | |
| 2.Non-Current Liabilities | |||||
| Long-term Borrowings | 30,00,000 | 30,00,000 | ....... | ........ | |
| 3.Current Liabilities | |||||
| (a) Short-term Borrowings | 4,50,000 | 4,80,000 | 30,000 | 6.67 | |
| (b) Trade Payables | 4,00,000 | 4,50,000 | 50,000 | 12.50 | |
| (c) Other Current Liabilities | 1,00,000 | 1,10,000 | 10,000 | 10.00 | |
| (d) Short-term Provisions | 50,000 | 60,000 | 10,000 | 20.00 | |
| Total | 1,00,00,000 | 1,03,00,000 | 3,00,000 | 3.00 | |
| II. Assets | |||||
| 1. Non-current Assets | |||||
| (a) Fixed Assets(Tangible) | 60,00,000 | 72,00,000 | 12,00,000 | 20.00 | |
| (b) Non-Current Invetments | 10,00,000 | 10,00,000 | ........ | ........ | |
| 2. Current Assets | |||||
| (a) Inventories | 15,00,000 | 11,00,000 | (4,00,000) | (26.67) | |
| (b) Trade Recivables | 10,00,000 | 6,00,000 | (4,00,000) | (40.00) | |
| (c) Cash and Cash Equivalents | 3,00,000 | 3,50,000 | 50,000 | 16.67 | |
| (d) Other Current Assets | 2,00,000 | 50,000 | (1,50,000) | (75.00) | |
| Total | 1,00,00,000 | 1,03,00,000 | 3,00,000 | 3.0 |
4.
Comparative Statement of Profit and Loss
for the years ended 31st March,2014 and 2015
| Particulars | 31st March,2014 Amt(Rs) | 31st March,2015 Amt(Rs) | Absolute Change (Increase or Decrease)(Rs) | Percentage Change (Increase or Decrease)(%) |
|---|---|---|---|---|
| I. Revenue from Operations(Sales) | 30,00,000 | 40,00,000 | 10,00,000 | 33.33 |
| II. Expenses | ||||
| (a) Cost of Goods Sold or Cost of Revenue from Operations | 18,00,000 | 22,00,000 | 4,00,000 | 22.22 |
| (b) Operating Expense | 2,40,000 | 4,50,000 |
2,10,000 |
87.50 |
| Total Expenses | 20,40,000 | 26,50,000 | 6,10,000 | 29.9 |
| III. Profit before Tax(I-III) | 9,60,000 | 13,50,000 | 3,90,000 | 40.63 |
| (-) Income Tax@40% | 3,84,000 | 5,40,000 | 1,56,000 | 40.63 |
| IV. Profit after tax | 5,76,000 | 8,10,000 | 2,34,000 | 40.63 |
5.
Comparative Statements of profit and Losses
for the years ended 31st March, 2014 and 2015
| Particulars | Absolute Value | Change | ||
|---|---|---|---|---|
| 2013-14(Rs) | 2014-15(Rs) | Absolute Change (Increse or Decrease)(Rs) | Percentage Change (Incresae or Decrease)(%) | |
| I.Revenue from Operations | 6,00,000 | 8,00,000 | 2,00,000 | 33.33 |
| II.Other Income | 50,000 | 1,00,00 | 50,000 | 100 |
| III.Total Revenue(I+II) | 6,50,000 | 9,00,000 | 2,50,000 | 38.46 |
| IV.Expenses | 4,00,000 | 5,00,000 | 1,00,000 | 25 |
| V.Profit before Tax(III-Iv) | 2,50,000 | 4,00,000 | 1,50,000 | 60 |
| (-) Income Tax @ 40% | 1,00,000 | 1,60,000 | 60,000 | 60 |
| VI.Profit after Tax | 1,50,000 | 2,40,000 | 90,000 | 60 |
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