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प्रश्न
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 |
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उत्तर
| Comparative Balance Sheet as on 31st March 2018 and 31st March 2019 | ||||
| Particulars | 31.03.2018 (₹) | 31.03.2019 (₹) | Absolute Change (₹) | Percentage Change |
| I. Sources of Funds |
||||
| (a) Share Capital | 60,000 | 72,000 | 12,000 | 20% Increase |
| (b) Reserve and Surplus | 24,000 | 30,000 | 6,000 | 25% Increase |
| (A) Net Worth | 84,000 | 1,02,000 | 18,000 | 21.43% Increase |
| (B) Borrowed Funds – Loan | 34,000 | 51,000 | 17,000 | 50% Increase |
| Total Funds Available (A + B) | 1,18,000 | 1,53,000 | 35,000 |
29.66% Increase |
| II. Application of Funds |
||||
| A. Fixed Assets | 1,20,000 | 1,50,000 | 30,000 | 25% Increase |
| B. Working Capital | ||||
| (1) Current Assets | 28,000 | 27,000 | (1,000) | (3.57%) Decrease |
| Less: (2) Current Liabilities | 30,000 | 24,000 | (6,000) | (20%) Decrease |
| Working Capital (Current Asset - Current Liabilities) | (2,000) | 3,000 | 5,000 | (250%) Decrease |
| Total Funds Applied (A + B) | 1,18,000 | 1,53,000 | 35,000 | 29.66% Increase |
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संबंधित प्रश्न
Capital balance is ascertained by preparing....................................
- Statement of affairs
- Cash account
- Drawing account
- Debtor’s account
State the objectives of financial statements from the view point of a business concern.
One of the objectives of ‘Financial Statements Analysis’ is to identify the reasons for change in the financial position of the enterprise, State two more objectives of this analysis.
State any one limitation of Analysis of Financial Statement.
JW Ltd. was a company manufacturing geysers. As a part of its long-term goal for an expansion, the company decided to identify the opportunity in rural areas. The initial plan was rolled out for Bhiwani village in Haryana. Since the village did not have a regular supply of electricity, the company decided to manufacture solar geysers. The core team consisting of the Regional Manager, Accountant and the Marketing Manager was taken from the Head Office and the remaining employees were selected from the village and neighbourhood areas. At the time of preparation of financial statements, the accountant of the company fell sick and the company debuted a junior accountant temporarily from the village for two months. The Balance Sheet prepared by the junior accountant showed the following items against the Major Heads and Sub-heads mentioned which were not as per Schedule III of the Companies Act, 2013.
| Items | Major Head/Sub-Head |
| Loose Tools | Trade Receivables |
| Cheques in Hand | Current Investments |
| Term Loan from Bank | Other Long-term Liabilities |
| Computer Software | Tangible Fixed Assets |
Identify any two values that the company wants to communicate to the society. Also, present the above items under the correct major heads and sub-heads as per Schedule III of the Companies Act, 2013.
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 _____________.
Select the appropriate answer from the alternatives given below & rewrite the completed statement
Bills payable is _____________.
Answer the following in brief :
State any three limitations of Analysis of financial statement.
What is ‘analysis’ of financial statement?
The Common Size Statement requires _________.
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.
Ratio analysis measures profitability efficiency and financial soundness of the business.
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?
Balance sheet provides information about the financial position of a business concern
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 | ||
Which of the following is a tool of Analysis of Financial Statements?
Under which major heads and sub-heads will the following items be presented in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013?
- Bills Receivable
- Securities premium reserve
- Calls in advance
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.
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 | |
