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The Common Size Statement requires _________.
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Bill Payable is ___________
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Give one word/term/phrase for the following statement.
The statement showing financial position for different periods of previous year and current year.
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Give one word/term/phrase for the following statement.
Statement showing changes in cash and cash equivalent during a particular period.
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Give one word/term/phrase for the following statement.
Activity related to acquisition of long term assets and investment.
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State true or false with reason.
Financial Statement includes only Balance Sheet.
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State true or false with reason.
Dividend paid is not a source of fund
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State true or false with reason.
The short term deposits are considered as cash equivalent.
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State true or false with reason.
Ratio analysis measures profitability efficiency and financial soundness of the business.
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Answer in one sentence only.
Give any three examples of current assets?
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Answer in one sentence only.
State the formula of Cost of goods sold?
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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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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
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Partnership deed is silent in respect of sharing of profits and losses; in this case what will be the ratio in which profits and loss to be shared?
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Partnership deed is silent in respect of sharing of profits and losses; in this case what will be the ratio in which profits and loss to be shared?
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Write a word/phrase/term which can substitute the following statement.
Legal Agreement in which partners are legally Liable for the acts done by them.
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Write a word/phrase/term which can substitute the following statement.
Legal Agreement in which partners are legally Liable for the acts done by them.
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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 | ||
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Partners share profit & losses in ______ ratio in the absense of partnership deed.
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Partners share profit & losses in ______ ratio in the absense of partnership deed.
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