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महाराष्ट्र राज्य शिक्षण मंडळएचएससी वाणिज्य (इंग्रजी माध्यम) इयत्ता १२ वी

Convert following Trading Account and Profit and Loss Account into Vertical Income Statement: - Book Keeping and Accountancy

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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
खातेवही
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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
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2022-2023 (March) Official

व्हिडिओ ट्यूटोरियलVIEW ALL [1]

संबंधित प्रश्‍न

Capital balance is ascertained by preparing....................................

  1. Statement of affairs
  2. Cash account
  3. Drawing account
  4. Debtor’s account

Balance sheet is a nominal account.


State the objectives of financial statements from the view point of a business concern.


What do you mean by Analysis of Financial Statement?


State and explain any 'four objectives' of financial statement analysis from the business point of view.


Government is not interested in the analysis of financial statement.

From the following information of a club show the amounts of match expenses and match fund in the Financial Statement of the Club for the year ended on 31st March, 2009 and 31st March, 2010. 

                                 Details

Amount

Rs

Match expenses (Paid during the year 2009-2010)

30,000

Match Fund (as on 31-3-2009)

17,000

Donation for Match Fund (Received during the year 2009 – 2010)

9,000

Proceeds from the sale of match tickets (Received during the year 2009-2010)

3,000

 


State and explain any 'four objectives' of analysis of financial statement from a business concern's point of view.


State whether following statement are true or false :
Financial statements include only balance sheet.


State whether following statement is true or false :
Government is not interested in analysis of financial statement.


Select the appropriate answer from the alternatives given below & rewrite the completed statement

Cash proceeds from issue of debentures is _______________.


Select the appropriate answer from the alternatives given below & rewrite the completed statement
From financial statement analysis, the creditors are interested to know _____________.


State whether following statement is true or false :
Analysis of financial statement is a tool but not a remedy.


What is ‘analysis’ of financial statement?


Bill Payable is ___________


Give one word/term/phrase for the following statement.

Statement showing changes in cash and cash equivalent during a particular period.


Give one word/term/phrase for the following statement.

Activity related to acquisition of long term assets and investment.


State true or false with reason.

Dividend paid is not a source of fund


State true or false with reason.

Ratio analysis measures profitability efficiency and financial soundness of the business.


Answer in one sentence only.

Give any three examples of current assets?


Balance sheet provides information about the financial position of a business concern


Following is the Balance Sheet of Mahi Traders for the year ended 31-3-2018 and 31-3-2019:

Liabilities 31-03-2018 (₹) 31-03-2019 (₹) Assets 31-03-2018 (₹) 31-03-2019 (₹)
Equity Share Capital 1,60,000 1,60,000 Fixed Assets 2,40,000 2,88,000
Pref. Shares Capital 40,000 40,000 Investment 40,000 40,000
Reserve and Surplus 40,000 48,000 Current Assets 1,20,000 96,000
Secured Loan 80,000 32,000      
Unsecured Loan 40,000 72,000      
Current Liabilities 40,000 72,000      
  4,00,000 4,24,000   4,00,000 4,24,000

Prepare Common Size Balance Sheet for the year 31-03-2018 and 31-03-2019


Which of the following is a tool of Analysis of Financial Statements?


Which of the following are not tools of Financial Analysis?

  1. Cash Flow Statement
  2. Income Statement
  3. Balance Sheet
  4. Ratio Analysis

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.


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