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

Convert the following Trading and Profit and Loss Account into Vertical Income Statement: To Opening stock 50,000, To Purchases 4,50,000, To Carriage 20,000, To Direct expenses 30,000

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प्रश्न

Convert the following Trading and Profit and Loss Account into Vertical Income Statement:

Dr. Trading, Profit and Loss Account
(for the year ended 31st March, 2020) 
Cr.
Particulars Amount
(₹)
Particulars Amount
(₹)
To Opening stock 50,000 By Sales 6,00,000
To Purchases 4,50,000 By Closing Stock 1,50,000
To Carriage 20,000    
To Direct expenses 30,000    
To Wages 50,000    
To Gross Profit c/d 1,50,000    
Total 7,50,000   7,50,000
To Office expenses 62,500 By Gross Profit b/d 1,50,000
To Finance expenses 15,000    
To Selling expenses 50,000    
To Net Profit c/d 22,500    
Total 1,50,000   1,50,000
खातेवही
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उत्तर

Vertical Income statement as on 31st March, 2020
Sr. No. Particulars Amount (₹) Amount (₹)
1. Sales   6,00,000
2. Less: Cost of goods sold    
  Opening Stock 50,000
  Purchases 4,50,000
  Carriage 20,000
  Direct expenses 30,000
  Wages 50,000
    6,00,000
  Less: Closing Stock 1,50,000 4,50,000
3. Gross Profit   1,50,000
4. Less: Operating Expenses   127,500
  Office expenses 62,500
  Finance expenses 15,000
  Selling expenses 50,000
5. Net Profit   22,500
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संबंधित प्रश्‍न

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

An asset which can be converted into cash immediately.


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.

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
Rs.

31.3.2010
Rs.

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

Additional Information :

(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.

Prepare :

(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. 


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:
The methodical classification of financial statement is called _____________.


Select the appropriate answer from the alternatives given below & rewrite the completed statement
Bills payable is _____________.


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


Answer the following in brief :
What do you mean by analysis of financial statements?

 

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.

Activity related to acquisition of long term assets and investment.


State true or false with reason.

Dividend paid is not a source of fund


Answer in one sentence only.

Give any three examples of current assets?


Which of the following statements is not true?


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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