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Published on: 02/06/2021
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Take MCQ Accountancy Test

1.
From the following particulars, prepare comparative income statement of Abdul Co. Ltd.
| Particulars | 2015-16 Rs. |
2016-17 Rs. |
|---|---|---|
| Revenue from operations | 3,00,000 | 3,60,000 |
| Other income | 1,00,000 | 60,000 |
| Expenses | 2,00,000 | 1,80,000 |
| Income tax | 30% | 30% |
2.
From the following balance sheet of Chandra Ltd, prepare comparative balance sheet as on 31st March 2016 and 31st March 2017.
| Particulars | 31st March 2016 | 31st March 2017 |
|---|---|---|
| Rs. | Rs. | |
| I EQUITY AND LIABILITIES | ||
| Shareholders’ fund | 1,00,000 | 2,60,000 |
| Non-current liabilities | 50,000 | 60,000 |
| Current liabilities | 25,000 | 30,000 |
| Total | 1,75,000 | 3,50,000 |
| II ASSETS | 1,00,000 | 2,00,000 |
| Current assets | 75,000 | 1,50,000 |
| Total | 1,75,000 | 3,50,000 |
3.
What is working capital?
4.
List the tools of financial statement analysis.
5.
1.
| Particulars | 2015-16 | 2016-17 | Absolute amount of increase (+) or decrease (–) |
Percentage increase (+) or decrease (–) |
|---|---|---|---|---|
| Rs. | Rs. | Rs. | ||
| Revenue from operations | 3,00,000 | 3,60,000 | +60,000 | +20 |
| Add: Other income | 1,00,000 | 60,000 | –40,000 | –40 |
| Total revenue | 4,00,000 | 4,20,000 | +20,000 | +5 |
| Less: Expenses | 2,00,000 | 1,80,000 | –20,000 | –10 |
| Profit before tax | 2,00,000 | 2,40,000 | +40,000 | +20 |
| Less: Tax (30%) | 60,000 | 72,000 | +12,000 | +20 |
| Profit after tax | 1,40,000 | 1,68,000 | +28,000 | +20 |
2.
| Particulars | 2015-16 | 2016-17 | Absolute amount of increase ( +) or decrease (–) |
Percentage increase (+) or decrease (–) |
|---|---|---|---|---|
| Rs. | Rs. | Rs. | ||
| I EQUITY AND LIABILITIES | ||||
| Shareholders’ fund | 1,00,000 | 2,60,000 | +1,60,000 | +160 |
| Non-current liabilities | 50,000 | 60,000 | +10,000 | +20 |
| Current liabilities | 25,000 | 30,000 | +5,000 | +20 |
| Total | 1,75,000 | 3,50,000 | +1,75,000 | +100 |
| II ASSETS | ||||
| Non-current assets | 1,00,000 | 2,00,000 | +1,00,000 | +100 |
| Current assets | 75,000 | 1,50,000 | +75,000 | +100 |
| Total | 1,75,000 | 3,50,000 | +1,75,000 | +100 |
3.
Working capital statement or schedule of changes in working is prepared to disclose net change in working capitals on two specific dates (generally two balance sheet dates). It is prepared from current assets and current liabilities
Working Capital = current Assets - Current Liabilities.
4.
Following are the commonly used tools of financial statement analysis
(i) Comparative statement
(ii) Common-size statement
(iii) Trend analysis
(iv) Funds flow analysis
(v) Cash flow analysis
5.
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Tamilnadu Stateboard 12th Standard Subjects

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Chemistry

Physics

Biology

Computer Science

Business Maths and Statistics

Economics

Commerce

Accountancy

History

Computer Applications

Biology

Computer Technology

Computer Applications

Computer Science

Business Maths and Statistics

Commerce

Economics

Maths

Chemistry

Physics

Computer Technology

History

Accountancy

Tamil

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