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Name the major heads and sub-heads under which the following items will be presented in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013 :
- Goodwill
- Debenture Redemption Reserve
- Licenses and Franchise
Concept: Statement of Profit and Loss
Under which major heads and sub-heads will the following items be presented in the Balance Sheet of a Company as per Schedule III, Part I of the Companies Act, 2013:
- Cheques-Drafts on hand
- Work-in-Progress
- Balance in Statement of Profit and Loss
Concept: Statement of Profit and Loss
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
State the significance of Analysis of Financial Statements to the ‘Lenders’.
Concept: Concept of Financial Statement Analysis
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 |
Concept: Concept of Financial Statement Analysis
Following is the Income statements, prepare a Common Size Income Statements of Jayant
Ltd. For the year ended 31-3-2011:
Income Statement of Jayant Ltd.
for the year ended 31.3.2011
| Particulars |
Amount Rs |
| Income: | |
| Sales | 25,38,000 |
| Other Incomes | 38,000 |
| Total Income | 25,76,000 |
| Expenses: | |
| Cost of goods sold | 14,00,000 |
| Operating expenses | 5,00,000 |
| Total Expenses | 19,00,000 |
| Tax | 3,38,000 |
Prepare a common size Income Statements of Raj Ltd. for the year ended 31-3-2011.
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
