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प्रश्न
Convert following Trading Account and Profit and Loss Account into Vertical Income Statement:
| Dr. | Trading, Profit and Loss Account for the year ended as on 31st March,2020 |
Cr. | |
| Particulars | Amount ₹ | Particulars | Amount ₹ |
| To Opening stock | 20,000 | By Sales | 1,20,000 |
| To Purchases | 90,000 | By Closing Stock | 30,000 |
| To Carriage inward | 500 | ||
| To Wages | 10,000 | ||
| To Gross Profit c/d | 29,500 | ||
| Total | 1,50,000 | Total | 1,50,000 |
| To Office expenses | 12,500 | By Gross Profit b/d | 29,500 |
| To Selling expenses | 10,000 | ||
| To Finance expenses | 3,000 | ||
| To Net Profit c/d | 4,000 | ||
| 29,500 | 29,500 | ||
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उत्तर
| Vertical Income statement as on 31st March, 2020 | |||
| Sr.No. | Particulars | Amount ₹ | Amount ₹ |
| 1. | Sales | 1,20,000 | |
| 2. | Less: Cost of good sold | ||
| Opening Stock | 20,000 | ||
| Add: Purchases | 90,000 | ||
| Add: Wages | 10,000 | ||
| Add: Carriage Inward | 500 | ||
| 1,20,500 | |||
| Less: Closing Stock | 30,000 | 90,500 | |
| 3. | Gross Profit | 29,500 | |
| 4. | Less: Operating Expenses | ||
| Admin Expenses | 12,500 | ||
| Selling | 10,000 | ||
| Finance Expenses | 3,000 | ||
| 5. | Total Operating Expenses | 25,500 | |
| 6. | Net Profit | 4,000 | |
APPEARS IN
संबंधित प्रश्न
Capital balance is ascertained by preparing....................................
- Statement of affairs
- Cash account
- Drawing account
- Debtor’s account
Balance sheet is a nominal account.
What do you mean by Analysis of Financial Statement?
State any one limitation of Analysis of Financial Statement.
State the significance of Analysis of Financial Statements to the ‘Lenders’.
Following incomplete information is available from the records maintained by Mr. Premnath.
|
Particulars |
1.4.2009 |
31.3.2010 |
|
Cash Balance Bank Balance Sundry Debtors Stock Furniture Creditors 10% Bank Loan |
12,000 26,000 20,000 24,000 24,000 20,000 20,000 |
13,000 30,000 26,000 26,000 24,000 20,000 20,000 |
(1) Mr. Premnath introduced additional capital in the business amounted to Rs 15,000 on 1st January, 2010.
(2) He has paid life insurance premium Rs 10,000 from the business account and withdrawn goods worth Rs 5,000 for his personal use.
(3) Write off Rs 1,000 as bad debts and maintain reserve for doubtful debts at 5% on remaining debtors.
(4) Provide depreciation at 5% p.a. on furniture.
(5) The closing balance of sundry creditors has been overvalued by Rs 2,000 in the books of account.
(6) Provide Interest on Capital and Bank Loan @ 10% p.a.
(i) Statement of Affairs as on 1.4.2009.
(ii) Statement of Affairs as on 31.3.2010.
(iii) Statement of Profit or Loss for the year ended 31st March, 2010.
Select the appropriate answer from the alternatives given below & rewrite the completed statement:
The methodical classification of financial statement is called _____________.
Give one word/term/ phrase for the following statement
Critical evaluation of financial statement to measure profitability.
Answer the following in brief :
What do you mean by analysis of financial statements?
Answer the following in brief :
State any three limitations of Analysis of financial statement.
State whether following statement is true or false :
Analysis of financial statement is a tool but not a remedy.
Explain the limitations of analysis of financial statements.
Bill Payable is ___________
Give one word/term/phrase for the following statement.
The statement showing financial position for different periods of previous year and current year.
Give one word/term/phrase for the following statement.
Statement showing changes in cash and cash equivalent during a particular period.
State true or false with reason.
Dividend paid is not a source of fund
State true or false with reason.
The short term deposits are considered as cash equivalent.
Answer in one sentence only.
Give any three examples of current assets?
Answer in one sentence only.
State the formula of Cost of goods sold?
Prepare Comparative Balance Sheet for the year ended 31.3.18 and 31.3.19 Assets & Liabilities as follows:
| Particulars | 31.3.18 (₹) | 31.3.19 (₹) |
| 1) Fixed Assets | 120,000 | 1,50,000 |
| 2) Share Capital | 60,000 | 72,000 |
| 3) Current Assets | 28,000 | 27,000 |
| 4) Reserve & Surplus | 24,000 | 30,000 |
| 5) Loan | 34,000 | 51,000 |
| 6) Current liabilities | 30,000 | 24,000 |
Which of the following statements is not true?
It is technique which involves regrouping of data by application of arithmetical relationships. Identify the technique and state any two advantages of the technique identified.
