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Under which heads and sub-heads the following items will appear in the Balance Sheet of Company as per Schedule III, Part-I of the Companies Act, 2013:
- Loose tools
- Calls-in-Advance
- Capital Reserve
Concept: Statement of Profit and Loss
‘Freedom to Choose of method of depreciation’ refers to which limitation of financial statement analysis.
Concept: Concept of Financial Statements
Classify the following items under Major heads and Sub heads (If any) in the balance sheet of a Company as per schedule III of the Companies Act 2013.
- Loose Tools
- Loan repayable on demand
- Provision for Retirement benefits
- Pre-paid Insurance
- Capital advances
- Shares in Listed Companies
Concept: Statement of Profit and Loss
What is meant by a 'Common Size Statement'?
Concept: Common-Size Statement
From the following information, prepare a 'Common Size Statement of Profit and Loss' of K K Ltd. for the year ended 31.3.2021 and 31.3.2022:
| Particulars | 31.3.2022 Amount (₹) |
31.3.2022 Amount (₹) |
| Revenue from operations | 20,00,000 | 15,00,000 |
| Other Income | 2,00,000 | 1,50,000 |
| Expenses | 4,00,000 | 3,00,000 |
| Tax Rate 50% |
Concept: Common-Size Statement
From the following information, prepare a 'Common Size Statement of Profit and Loss' of GG Ltd. for the year ended 31.3.2021 and 31.3.2022:
| 31.3.2022 | 31.3.2021 | |
| Revenue from operations | 20,00,000 | 10,00,000 |
| Other Income | 2,00,000 | 1,00,000 |
| Expenses | 15,00,000 | 8,00,000 |
| Tax @ 50% |
Concept: Common-Size Statement
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
Concept: Concept of Financial Statement 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.
Concept: Concept of Financial Statement Analysis
From the information extracted from the statement of Profit & Loss of Zee Ltd for the year ended 31st March 2022 and 31st March 2023, prepare a common size statement of profit & loss:
| Particulars | Note No. | 2022-23 (₹) | 2021-22 (₹) |
| Revenue from operations |
8,00,000 | 10,00,000 | |
| Gross Profit | 60% | 70% | |
| Other Expenses | 2,20,000 | 2,60,000 | |
| Tax Rate | 50% | 50% |
Concept: Common-Size Statement
From the following details obtained from the financial statements of Jeev Ltd. Calculate interest coverage ratio
Net Profit after tax 1, 20,000
12% Long term Debt 20, 00,000
Tax Rate 40%
Concept: Solvency Ratios >> Interest Coverage Ratio
Give the meaning of 'Long-Term Provisions'.
Concept: Solvency Ratios >> Debt to Equity Ratio
From the Following information, compute Debt-Equity Ratio
| Long-Term Borrowings | 4,00,000 |
| Long-Term Provision | 2,00,000 |
| Current Liabilities | 1,00,000 |
| Non-Current-Assets | 7,20,000 |
| Current -Assets | 1,80,000 |
Concept: Solvency Ratios >> Debt to Equity Ratio
The current ratio of Y Ltd. is 2:1. A state with reason which of the following transaction would
i. increase;
ii. decrease or
iii. not change the ratio
1) Trade receivables included debtors of Rs 40,000 which were received
2) The company purchased furniture of Rs 45,000. The vendor was paid by issue of equity share of Rs 10 each at par.
Concept: Activity Ratios >> Trade Receivables Turnover Ratio
From the Following information, compute Debt-Equity Ratio
| Rs | |
| Long-Term Borrowings | 8,00,000 |
| Long-Term Provision | 4,00,000 |
| Current Liabilities | 2,00,000 |
| Non-Current-Assets | 14,40,000 |
| Current -Assets | 3,60,000 |
Concept: Solvency Ratios >> Debt to Equity Ratio
From the following information compute 'Proprietary Ratio'
| Rs | |
| Long-Term Borrowings | 2,00,000 |
| Long-Term Provision | 1,00,000 |
| Current Liabilities | 50,000 |
| Non-Current-Assets | 3,60,000 |
| Current -Assets | 90,000 |
Concept: Solvency Ratios >> Proprietary Ratio
Choose the appropriate alternative from the given options:
Which of the following is not an activity ratio?
Concept: Activity Ratios >> Inventory Turnover Ratio
| Inventory in the beginning | ₹ 30,000 |
| Inventory at the end | ₹ 50,000 |
| Net Purchases | ₹ 5,00,000 |
| Wages | ₹ 25,000 |
| Salaries | ₹ 40,000 |
| Revenue from operations | ₹ 8,00,000 |
| Carriage Inwards | ₹ 5,000 |
| Returns Outwards | ₹ 30,000 |
Calculate Inventory Turnover Ratio
Concept: Activity Ratios >> Inventory Turnover Ratio
If revenue from operations is ₹ 9,00,000; gross profit is 25% on cost and operating expenses are ₹ 90,000 the operating ratio will be:
Concept: Activity Ratios >> Inventory Turnover Ratio
Debt-Equity Ratio of Dhamaka Ltd is 3 : 1. Which of the following will result in decrease in this ratio?
Concept: Solvency Ratios >> Debt to Equity Ratio
Which of the following is not included in cash and cash equivalents?
(a) Balances with banks
(b) Bank deposits with 100 days of maturity
(c) Cheques and drafts on hand and
(d) Cash on hand
Concept: Application in Generating Accounting Information - Bank Reconciliation Statement
