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12th Standard English Medium Accountancy Subject Financial Statement Analysis Book Back 3 Mark Questions with Solution Part - II

Published on: 03/06/2021

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Std: 12th Standard - Accountancy

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Questions:

Generic 2

1 x 2 = 2

From the following particulars of Kumar Ltd, prepare a common-size income statement for the year ended 31^st March, 2018.

Particulars	2017-18
	Rs.
Revenue from operations	5,00,000
Other income	20,000
Expenses	3,00,000

Generic 5

2 x 5 = 10

Prepare common-size balance sheet of Sharmila Ltd. and Sangeetha Ltd. as on 31^st March, 2019.

Particulars	Sharmila Ltd	Sangeetha Ltd
	Rs.	Rs.
I EQUITY AND LIABILITIES
Shareholders’ funds	5,00,000	11,00,000
Non-current liabilities	4,00,00	7,00,000
Current liabilities	1,00,000	2,00,000
Total	10,00,000	20,00,000
II ASSETS
Non-current assets	6,50,000	18,00,000
Current assets	3,50,000	2,00,000
Total	10,00,000	20,00,000

From the following particulars of Siva Ltd, prepare common size income statement for the years ended 31st March, 2016 and 31st March, 2017.

Particulars	2015-16	2016-17
	Rs.	Rs.
Revenue from operations	2,00,000	3,00,000
Other income	25,000	75,000
Expenses	2,50,000	1,50,000
Income tax %	40	40

Generic 3

2 x 3 = 6

Explain the steps involved in preparing comparative statement

Write a short note on cash flow analysis.

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Answers Key:

Generic 2

1 x 2 = 2

Common-size income statement of Kumar Ltd for the year ended 31^st March, 2018
Particulars	Absolute amount	Percentage of revenue from operations
Revenue from operations	5,00,000	100
Add: Other income	20,000	4
Total revenue	5,20,000	104
Less: Expenses	3,00,000	60
Profit before tax	2,20,000	44

Computation of percentage for other income
\(\cfrac { 20,000 }{ 5,00,000 } \times 100=4%\)%

Generic 5

2 x 5 = 10

Common-size balance sheet of Sharmila Ltd and Sangeetha Ltd as on 31^st **March, 2019**
	Sharmila Ltd		Sangeetha Ltd
Particulars	Absolute amount	Percentage of total assets	Absolute amount	Percentage of total assets
	Rs.	Rs.	Rs.
I EQUITY AND LIABILITIES
Shareholders’ funds	5,00,000	50	11,00,000	55
Non-current liabilities	4,00,000	40	7,00,000	35
Current liabilities	1,00,000	10	2,00,000	10
Total	10,00,000	100	20,00,000	100
II ASSETS
Non-current assets	6,50,000	65	18,00,000	90
Current assets	3,50,000	35	2,00,000	10
Total	10,00,000	100	20,00,000	100

Common–size income statement of Siva Ltd for the year ended 31st March, 2016 and 31st March, 2017
Particulars	Absolute amount 2015-16	Percentage of revenue from operations for 2015-16	Absolute amount 2016-17	Percentage of revenue from operations for 2016-17
	Rs.	Rs.	Rs.
Revenue from operations	2,00,000	100.00	3,00,000	100
Add: Other income	25,000	12.50	75,000	25
Total revenue	2,25,000	112.50	3,75,000	125
Less: Expenses	2,50,000	125.00	1,50,000	50
Profit / loss before tax	-25,000	-12.50	2,25,000	75
Less: Income tax (40%)	-	-	2,25,000	30
Profit after tax	-25,000	-12.50	1,35,000	45

Generic 3

2 x 3 = 6

A comparative statement has five columns. Following are the steps to be followed in preparation of the comparative statement.
(i) Column 1: In this column, particulars of items of income statement or balance sheet are written.
(ii) Column 2: Enter absolute amount of year 1
(iii) Column 3: Enter absolute amount of year 2
(iv) Column 4: Show the difference in amounts between year 1 and year 2. If there is an increase in year 2, put plus sign and if there is decrease put minus sign.
(v) Column 5: Show percentage increase or decrease of the difference amount shown in column 4 by dividing the amount shown in column 4 (absolute amount of increase or decrease) by column 2 (year 1 amount). That is,
Percentage increase or decrease
\(\frac{Absolute \ amount \ of \ increase \ or \ decrease}{Year \ 1 \ amount}\times100\)
Format of comparative statement:

Particular	Year 1	Year 2	Absolute amount of increase (+) or Decrease (-)	Percentage increase (+) ordecreases (-)
Particular	Rs.	Rs.	Rs.	Percentage increase (+) ordecreases (-)
(1)	(2)	(3)	(4)	(5)

(i) Cash flow analysis is concerned with preparation of cash flow statement which shows the inflow and outflow of cash and cash equivalents in a given period of time.
(ii) Cash includes cash in hand and demand deposits with banks.
(iii) Cash equivalents denote short term investments which can be realised easily within a short period of time, without much loss in value.
(iv) Cash flow analysis helps in assessing the liquidity and solvency of a business concern