12th Standard CBSE Syllabus & Materials
12th Standard CBSE
CBSE 12th Economics Government Budget and the Economy Previous year Question Papers Study Material - QB365 Set A
NEW12th Standard CBSE
CBSE 12th Computer Science Interface Python with MySQL - New Previous year Question Papers Study Material - QB365 Set A
NEW12th Standard CBSE
CBSE 12th Computer Science Database Concept - New Previous year Question Papers Study Material - QB365 Set A
NEW12th Standard CBSE
CBSE 12th Computer Science Data Communication - New Previous year Question Papers Study Material - QB365 Set A
NEW12th Standard CBSE
CBSE 12th Computer Science Data Structures - New Previous year Question Papers Study Material - QB365 Set A
NEW12th Standard CBSE
CBSE 12th Computer Science Functions - New Previous year Question Papers Study Material - QB365 Set A
Published on: 13/08/2019
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.
Current ratio of a firm is 2:1. State whether Purchase of goods for cash‖ will improve, decrease or will not have any change in the ratio
2.
Give the example of Horizontal Analysis.
3.
What is meant by Common-size Statement of Profit and Loss'?
4.
State any one limitation of financial Statement Analysis.
5.
Why is the government interested in analysing financial statements ?
6.
Calculate Fixed Assets turnover ratio
Cost of goods sold: Rs. 16,80,000
Gross profit = Rs. 5,60,000
Capital employed = Rs. 43,00,000
Working captial = Rs. 80,000
7.
Calculate Gross profit and sales
Average stock = Rs 80,000
Stock turnover ratio = 6 times
Selling price = 25% above cost
8.
Give the Main Heading and Sub-Heading of Equity and Liabilities of the Balance sheet of a company as per the revised Schedule VI of the companies Act.1956.
9.
Identify the values involved in comparative analysis and common size statement.
10.
Prepare a Common-size Statement of Profit and Loss from the following information for the year ended 31st March, 2013:
| Particulars | Note No. |
31st March, 2013 Rs. |
|---|---|---|
|
Revenue form Operations |
17,00,000 |
|
|
Cost of Revenue from Operations |
9,20,000 |
|
|
Employee Benefit Expenses |
3,40,000 |
|
|
Other Incomes |
90,000 | |
| Taxes Payable @ 50% |
11.
Prepare a comparative Statement of Profit and Loss from the following information:
| Particulars | Note No. | 2011-12 | 2010-11 |
|---|---|---|---|
|
Revenue from Operations |
50,000 |
40,000 |
|
|
Cost of Material Consumed |
35,000 |
30,000 |
|
|
Other Expenses |
3,000 |
2,500 |
|
|
Other Income |
2,000 |
3,000 |
|
| Income Tax | 7,500 | 4,750 |
12.
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 |
13.
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% |
14.
Prepare Comparative and Common Size income statement form the following information for the year's enden march 31, 2008 and 2009.
| Particulars | 2008(Rs.) | 2009(Rs.) |
|---|---|---|
| 1. Net Sales | 8,00,000 | 10,00,000 |
| 2. Cost of Goods Sold | 60% of sales | 60% of sales |
| 3. Indirect Expenses | 10% of Gross Profit | 10% of Gross profit |
| 4. Income Tax rate | 5% | 60% |
1.
( )
It will not change the ratio as stock increases and cash decreases.
2.
( )
Comparative Rinancial Statement.
3.
( )
Common-size Statement of Profit and Loss express all items of financial statement as a percentage of some common base such as Revenue from Operations (or sales)for income statement and total of liabilities or assets for balance sheet.
4.
( )
Limitations of financial statement analysis are
(i) Financial statement analysis ignore qualitative aspects like quality of management, labour foree and public relations.
(ii) The results obtained by analysis of financial statements may be misleading due to window dressing.
5.
( )
On the basis of analysis of financial statements, government can judge which industry is progressing on the desired lines and which industry needs help.
6.
Fixed assets turnover ratio = Net sales/ Net fixed assets
Net sales = Cost of goods sold + Gross profit
= 16,80,000 + 5,60,000
= 22,40,000
Capital employed = Net fixed assets + Net working Capital
4,00,000 = Net Fixed assets + 80,000
Net Fixed assets = 3,20,000
Fixed assets turnover ratio = 22,40,000/3,20,000 = 7 times
7.
Stock Turnover ratio = cost of sales/average stock
6 = cost of sales/80,000
Cost of Sales = 80,000X6 = 4,80,000
Gross profit = 4,80,000 + 1,20,000 = Rs. 6,00,000
8.
Equity and liabilities
(1) Shareholder's Funds
(a) Share Capital
(b) Reserves and Surplus
(c) Money received against share warrants
(2) Share Applications Money Pending Allotment
(3) Non-Current Liabilities
(a) Long-term borrowings
(b) Deferred tax liabilities(Net)
(c) Other Long-term Liabilities
(d) Long-term provisions
(4) Current Liabilities
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short-term provisions
9.
Values Involved in comparative and common size statement are:
(i) Comparative financial information for interested parties
(ii) Decision-making
(iii) Transparency
(iv) Scientific temperament
(v) Critical analysis
10.
Percentage : Revenue from Operations 100%, Other Income 5.29% ,Cost of Revenue form Operations 54.12%,Employee Benefit Expenses 20% , PBT 31.17% ,Income Tax 15.59% , PAT 15.58%
11.
Percentage change : Revenue from Operations 25%, Other income 50% , Cost of Material Consumed 16.67% , Other Expenses 20% , Others 57.89% each
12.
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 |
13.
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 |
14.
| Particular | 2008 amount | 2009 amount | Change in amount | Change in Percentage |
|---|---|---|---|---|
| Net Sales | 8,00,000 | 10,00,000 | 2,00,000 | 25% |
| Less: C.O.G.S | 4,8,000 | 6,00,000 | 1,20,000 | 25% |
| Gross Profit | 3,20,000 | 4,00,000 | 80,000 | 25% |
| Less: Indirect Experenses | 32,000 | 40,000 | 8,000 | 25% |
| Operating Profit/PBT | 2,88,000 | 3,60,000 | 72,000 | 25% |
| Less: tax | 1,44,000 | 2,16,000 | 72,000 | 50% |
| Priofit after tax | 1,44,000 | 1,44,000 | __________ | __________ |
| Particular | 2008 amount | 2009 amount | Percentage of Net Sales in P.Y | Percentage Net Sales in C.Y |
|---|---|---|---|---|
| Net Sales | 8,00,000 | 10,00,000 | 100% | 100% |
| Less: C.O.G.S | 4,8,000 | 6,00,000 | 60% | 60% |
| Gross Profit | 3,20,000 | 4,00,000 | 40% | 25% |
| Less: Indirect Experenses | 32,000 | 40,000 | 4% | 25% |
| Operating Profit/PBT | 2,88,000 | 3,60,000 | 36% | 25% |
| Less: tax | 1,44,000 | 2,16,000 | 18% | 50% |
| Priofit after tax | 1,44,000 | 1,44,000 | 18% | 14.4% |
12th Standard CBSE Syllabus & Materials
12th Standard CBSE
CBSE 12th Computer Science Python Revision Tour I - New Previous year Question Papers Study Material - QB365 Set A
NEW12th Standard CBSE
CBSE 12th Business Studies Planning Important Questions And Answers Study Material - QB365 Set A
NEW12th Standard CBSE
CBSE 12th Business Studies Business Environment Important Questions And Answers Study Material - QB365 Set A
NEW12th Standard CBSE
CBSE 12th Business Studies Principles of Management Important Questions And Answers Study Material - QB365 Set A
CBSE 12th Standard CBSE Subjects
CBSE Standards
