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T.S. Grewal solutions for Class 12 Accountancy chapter 2 - Tools of Financial Statement Analysis-Comparative Statements and Common-Size Statements

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Chapters

Chapter 1: Financial Statements of a Company

Chapter 2: Tools of Financial Statement Analysis-Comparative Statements and Common-Size Statements

Chapter 3: Accounting Ratios

Chapter 4: Cash Flow Statement

T.S. Grewal T S Grewal Class 12 Accountancy - Analysis Of Financial Statements

T S Grewal Class 12 Accountancy - Analysis Of Financial Statements - Shaalaa.com

Chapter 2: Tools of Financial Statement Analysis-Comparative Statements and Common-Size Statements

Exercise

Chapter 2: Tools of Financial Statement Analysis-Comparative Statements and Common-Size Statements Exercise Exercise solutions [Pages 30 - 39]

Exercise | Q 1 | Page 30

From the following Balance Sheet, prepare Comparative Balance Sheet of Sun Ltd.:

Particulars Note
No.
31st March, 2019
(₹)
31st March, 2018
(₹)
I. EQUITY AND LIABILITIES

1. Shareholder's Funds

     

(a) Share Capital

  3,50,000 3,00,000

2. Non-Current Liabilities

     

Long-term Borrowings

  1,00,000 2,00,000

3. Current Liabilities :

     

Trade Payables

  1,50,000 1,00,000
Total   6,00,000 6,00,000

II. ASSETS

     

1. Non-Current Assets

     

Fixed Assets (Tangible)

  4,00,000 3,00,000

2. Current Assets 

     

Trade Receivables

 

2,00,000

3,00,000

Total  

6,00,000

6,00,000

Exercise | Q 2 | Page 30

Following is the Balance Sheet of Radha Ltd. as at 31st March, 2019:

Particulars

Note No.

31st March, 2019,

(₹)

31st March, 2018,

(₹)

I. EQUITY AND LIABILITIES

1. Shareholders' Funds

     

(a) Share Capital

 

15,00,000

10,00,000

(b) Reserves and Surplus

  10,00,000 10,00,000

2. Non-Current Liabilities

     

Long-term Borrowings 

 

8,00,000

2,00,000

3. Current Liabilities

     

(a) Trade Payables

 

5,00,000

3,00,000

Total

 

38,00,000

25,00,000

II. ASSETS

     

1. Non-Current Assets

     

Fixed Assets:

     

(i) Tangible Assets

 

25,00,000

15,00,000

(ii) Intangible Assets

  5,00,000 5,00,000

2. Current Assets 

     

(a) Trade Receivables

 

6,00,000

3,50,000

(b) Cash and Cash Equivalents

 

2,00,000

1,50,000

Total

 

38,00,000

25,00,000

You are required to prepare Comparative  Balance Sheet on the basis of the information given in the above Balance Sheet. 

Exercise | Q 3 | Page 31

Balance Sheet of Blue Bell Ltd. as at 31st March, 2019 is given below:

BALANCE SHEET
as at 31st March, 2019 

Particulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. EQUITY AND LIABILITIES

1. Shareholder's Funds

     

(a) Share Capital

 

3,26,000

2,44,000

(b) Reserves and Surplus

 

1,00,000

1,00,000

2. Non-Current Liabilities

     

Long-term Borrowings

 

6,96,000

4,38,000

3. Current Liabilities

     

Trade Payables

 

2,98,000

78,000

Total  

14,20,000

8,60,000

II. ASSETS

     

1. Non-Current Assets

     

(a) Fixed Assets

  5,68,000 4,30,000

(b) Non-Current Investments

 

6,000

4,000

2. Current Assets

     

(a) Trade Receivables

 

6,46,000

3,76,000

(b) Cash and Cash Equivalents

 

2,00,000

50,000

Total 

 

14,20,000

8,60,000

Prepare Comparative Balance Sheet showing percentage changes from 2018 to 2019.

Exercise | Q 4 | Page 32

Following is the summarised Balance Sheet of Wye Ltd. as at 31st March, 2019:

Particulars

Note No.

31st March,
2019

(₹)

31st March,
2018

(₹)

I. EQUITY AND LIABILITIES      

1. Shareholders' Funds

 

 

 

(a) Share Capital:

 

 

 

(i) Equity Share Capital

 

4,00,000

4,00,000

(ii) Preference Share Capital

  1,00,000 1,00,000

(b) Reserves and Surplus

  1,20,000 1,10,000

2. Non-Current Liabilities

     

(a) Long-term Borrowings

1. 4,50,000 4,50,000

(b) Long-term Provisions

  50,000 1,00,000

3. Current Liabilities

     

(a) Trade Payables (Creditors)

  5,30,000 3,30,000

(b) Short-term Provisions

 

50,000

50,000

Total

 

17,00,000

15,40,000
II. ASSETS  

 

 

1. Non-Current Assets

     

(a) Fixed Assets (Tangible)

  9,90,000 10,40,000

(b) Non-Current Investments

  1,00,000 1,00,000

2. Current Assets

     

(a) Trade Receivables

  5,00,000 3,00,000

(b) Cash and Cash Equivalents

2

1,10,000

1,00,000

Total

 

17,00,000

15,40,000

Notes to Accounts 

Particulars

31st March,
2019

(₹)

31st March,
2018

(₹)

I. Long-term Borrowings    

Bank Loan

3,50,000

4,50,000

8% Debentures

1,00,000

...
 

4,50,000

4,50,000
2. Cash and Cash Equivalents    

Bank Balance

1,00,000

90,000

Cash in Hand

10,000

10,000
 

1,10,000

1,00,000

You are required to comment upon the changes in absolute figures from one period to another.

Exercise | Q 5 | Page 33

From the Following Balance Sheet of Royal Industries Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:

Particulars

Note No.

31st March,

2019 (₹)

31st March,

2018 (₹)

I. EQUITY AND LIABILITIES

1. Shareholder's Funds

     

(a) Share Capital

     

Equity Share Capital

 

10,00,000

5,00,000

(b) Reserves and Surplus

 

1,00,000

1,00,000

2. Non-Current Liabilities

     

Long-term Borrowings

 

2,00,000

3,00,000

3. Current Liabilities 

     

Trade Payables

 

2,00,000

1,00,000

Total

 

15,00,000

10,00,000

       
II. ASSETS      

1. Non-Current Assets

     

(a) Fixed Assets:

     

(i) Tangible Assets

 

8,00,000

4,00,000

(ii) Intangible Assets 

 

2,00,000

2,00,000

(b) Non-Current Investments

 

2,00,000

2,00,000

2. Current Assets 

     

(a) Inventories

 

2,50,000

1,50,000

(b) Cash and Cash Equivalents

 

50,000

50,000

Total 

 

15,00,000

10,00,000

Exercise | Q 6 | Page 33

From the following Balance Sheet of Depth Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:

 

Particulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. EQUITY AND LIABILITIES

     

1. Shareholders' Funds

     

(a) Share Capital

 

2,80,000

1,80,000

(b) Reserves and Surplus

 

1,00,000

1,00,000

2. Non-Current Liabilities

     

Long-term Borrowings

 

80,000

20,000

3. Current Liabilities

     

Trade Payables

 

50,000

30,000

Total

 

5,10,000

3,30,000

II. ASSETS

     

1. Non-Current Assets

     

(a) Fixed Assets:

     

(i) Tangible Assets

 

2,80,000

1,80,000

(ii) Intangible Assets

 

50,000

30,000

(b) Non-Current Investments 

 

80,000

50,000

2. Current Assets

     

(a) Inventories

 

70,000

30,000

(b) Cash and Cash Equivalents

 

30,000

40,000

Total

 

5,10,000

3,30,000

Exercise | Q 7 | Page 34

From the following Balance Sheet of H.P. Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:

Particulars 

Note No.

31st March,

2019

(₹)

31st March,

2018

(₹)

I. EQUITY AND LIABILITIES

     

1. Shareholders' Funds 

     

(a) Share Capital:

     

(i) Equity Share Capital

 

12,50,000

5,00,000

(ii) Preference Share Capital

 

2,50,000

2,50,000

(b) Reserves and Surplus

 

3,00,000

4,50,000

2. Non-Current Liabilities

     

Long-term Borrowings: 12% Debentures

 

9,50,000

5,50,000

Loan from Directors

 

2,50,000

2,00,000

3. Current Liabilities

     

(a)Short-term Borrowings

 

3,50,000

1,75,000

(b) Trade Payables

 

2,00,000

1,00,000

(c) Short-term Provisions

 

50,000

25,000

Total

 

36,00,000

22,50,000

II. ASSETS

     

1. Non-Current Assets

     

(a) Fixed Assets (Tangible)

 

22,50,000

15,00,000

2. Current Assets

     

(a) Inventories

 

4,50,000

2,50,000

(b) Trade Receivables

 

8,00,000

4,50,000

(c) Cash and Cash Equivalents

 

1,00,000

50,000

Total

 

36,00,000

22,50,000

Exercise | Q 8 | Page 34

Following information is extracted from the Statement of Profit and Loss of Gold Coin Ltd. for the year ended 31st March, 2015:

Particulars

31st March,

2015

31st March, 2014

Revenue from Operations

₹ 60,00,000

₹ 45,00,000

Employee Benefit Expenses

₹ 30,00,000

₹ 22,50,000

Depreciation

₹ 7,50,000

₹ 6,00,000

Other Expenses

₹ 15,50,000

₹ 10,00,000

Tax Rate

30%

30%

Exercise | Q 9 | Page 35

Prepare Comparative Statement of Profit and Loss from the following Statement of Profit and Loss:

Particulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. Income      

Revenue from Operations (Net Sales)

  3,50,000 3,00,000
II. Expenses      

Purchases of Stock-in-Trade 

  2,10,000 1,80,000

Change in Inventories of Stock-in-Trade

  15,000 20,000

Employees Benefits Expenses

  17,500 15,000

Other Expenses

 

7,500

5,000

Total

  2,50,000 2,20,000
III. Profit before Tax (I-II)  

1,00,000

80,000

IV. Less: Tax

 

30,000

24,000

V. Profit after Tax (III-IV)

 

70,000

56,000
Exercise | Q 10 | Page 35

Prepare Comparative Statement of Profit and Loss from the following Statement of Profit and Loss:

Particulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. Income

     

Revenue from Operations (Net Sales)

 

3,00,000

2,50,000

II. Expenses

     

Cost of Materials Consumed

 

1,20,000

1,00,000

Changes in Inventories of WIP and Finished Goods

 

(2,000)

5,000

Employees Benefits Expenses (Wages)

 

30,000

25,000

Other Expenses

 

22,000

20,000

Total

 

1,70,000

1,50,000

III. Net Profit (I-II)

 

1,30,000

1,00,000

Exercise | Q 11 | Page 36

From the following Information, prepare Comparative Statement of Profit and Loss:

Particulars

31st March, 2019

31st March, 2018

Revenue from Operations

₹ 30,00,000

₹ 20,00,000

Other Income (% of Revenue from Operations)

12%

20%

Expenses (% of Operating Revenue)

70%

60%

Tax Rate

40%

40%

Exercise | Q 12 | Page 36

From the following information, prepare Comparative Statement of Profit and Loss showing increase, decrease and percentage:

Particulars 31st March, 2019

31st March, 2018

Cost of Materials Consumed ₹ 13,44,000

₹ 6,00,000

Revenue from Operations (% of Materials Consumed) 125%

200%

Other Expenses (% of Operating Revenue) 10% 10%
Tax Rate 50% 50%
Exercise | Q 13 | Page 36

From the following Statement of Profit and Loss, prepare Comparative Statement of Profit and Loss:

Particulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. Income      

Revenue from Operations (Net Sales)

 

50,00,000

40,00,000
II. Expenses  

 

 

Purchases of Stock-in-Trade

  34,00,000 28,50,000

Change in Inventories of Stock-in-Trade

1 1,00,000 1,50,000

Employees Benefits Expenses

  1,00,000 1,00,000

Other Expenses

2

2,00,000

1,50,000

Total

 

38,00,000

32,50,000
III. Net Profit (I-II)   12,00,000 7,50,000

Notes to Accounts

Particulars

31st March, 2019

(₹)

31st March, 2018

(₹)

I. Change in Inventory of stock-in-Trade     

Opening Inventory

2,00,000

3,50,000

Less: Closing Inventory

1,00,000

2,00,000
 

1,00,000

1,50,000
2. Other Expenses    

Administrative Expenses

50,000

50,000

Selling and Distribution Expenses

1,50,000

1,00,000
 

2,00,000

1,50,000
Exercise | Q 14 | Page 37

Prepare Comparative Statement of Profit and Loss from the following information:

Particulars 31st March,
2019
31st March, 2018
Revenue from Operations ₹ 37,50,000

₹ 25,00,000

Other Income ₹ 4,50,000

₹ 5,00,000

Cost of Materials Consumed ₹ 22,50,000 ₹ 12,50,000
Other Expenses ₹ 3,75,000 ₹ 2,50,000
Tax Rate 50% 50%
Exercise | Q 15 | Page 37

From the following Statement of Profit and Loss of Antriksh Ltd. for the year ended 31st March, 2012 and 2013, ​​Prepare Comparative Statement of Profit and Loss:

Particulars Note No. 31st March,
2013 (₹)

31st March,
2012, (₹)

Revenue from Operations   14,00,000 8,00,000
Other Incomes   6,00,000

4,00,000

Expenses

  17,00,000

11,00,000

Rate of Income Tax was 40%.

Exercise | Q 16 | Page 37

From the following Statement of Profit and Loss, prepare Comparative Statement of Profit and Loss:

Particulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. Income      

Revenue from Operations (Net Sales)

  20,00,000 17,50,000

Other Income

 

75,000

50,000

Total

  20,75,000 18,00,000
II. Expenses  

 

 

Purchases of Stock-in-Trade

  11,60,000 10,00,000

Change in Inventories of Stock-in-Trade

  10,000 (25,000)

Employees Benefits Expenses

1 3,00,000 3,00,000

Depreciation and Amortisation Expenses

  50,000 50,000

Other Expenses

2

90,000

75,000

Total

 

16,10,000

14,00,000
III. Net Profit (I-II)   4,65,000 4,00,000

Notes to Accounts

Particulars

31st March, 2019

(₹)

31st March, 2018

(₹)

I. Employees Benefit Expenses    

Wages

3,00,000

3,00,000
2. Other Expenses    

Administrative and General Expenses

70,000

50,000

Miscellaneous Expenses

20,000

25,000
 

90,000

75,000
Exercise | Q 17 | Page 38

From the following Statement of Profit and Loss of Star Ltd., for the year ended 31st March, 2015 and 2016, prepare a Common-size statement:

Particulars Note No. 2015-16

2014-15

Revenue from Operations   ₹ 25,00,000  ₹ 20,00,000
Employee Benefit Expenses   ₹ 10,00,000 ₹ 7,00,000
Other Expenses   ₹ 2,00,000 ₹ 3,00,000

Tax Rate

  40%

40%

Exercise | Q 18 | Page 38

Prepare Common-size Statement of Profit and Loss from the following Statement of Profit and Loss:

Particulars

Note No.

31st March, 2018

(₹)

I. Income    

Revenue from Operations

  15,00,000

Other Income

 

60,000

Total Revenue

  15,60,000
II. Expenses  

 

Purchases of Stock-in-Trade

  7,50,000

Change in Inventories of Stock-in-Trade

  50,000

Other Expenses

 

2,10,000

Total

 

10,10,000

III. Net Profit before Tax (I-II)   5,50,000 
Exercise | Q 19 | Page 39

Prepare Common-size Statement of Profit and Loss from the following Statement of Profit and Loss:

Particulars

Note No.

Year I

(₹)

Year II

(₹)

I. Income      

Revenue from Operations (Net Sales)

 

14,00,000

16,00,000

II. Expenses      

Purchases of Stock-in-Trade 

 

9,00,000

10,00,000

Change in Inventories of Stock-in-Trade

 

1,00,000

1,80,000

Finance Costs

 

80,000

80,000

Other Expenses

 

90,000

1,30,000

Total

 

11,70,000

13,90,000

III. Net Profit (I-II)  

2,30,000

2,10,000

IV.  Less: Tax  

40,000

36,000

V. Net Profit After Tax (III-IV)  

1,90,000

1,74,000

Exercise | Q 20 | Page 39

Prepare Common-size Balance Sheet and comment on the financial position of Sun Ltd. and Star Ltd. The Balance Sheet of Sun Ltd. and Star Ltd. as at 31st March, 2019 are:

Particulars

Sun Ltd.

(₹)

Star Ltd.

(₹)

I. EQUITY AND LIABILITIES     

1. Shareholders' Funds 

   

(a) Share Capital

9,00,000

12,00,000

(b) Reserves and Surplus

4,00,000

3,50,000

2. Current Liabilities

 

 

Trade Payables (Creditors)

2,00,000

2,50,000

Total

15,00,000

18,00,000

II. ASSETS    

1. Non-Current Assets

   

Fixed Assets (Tangible)

10,00,000

16,00,000

2. Current Assets

 

 

Trade Receivables (Debtors)

5,00,000

2,00,000

Total

15,00,000

18,00,000

Chapter 2: Tools of Financial Statement Analysis-Comparative Statements and Common-Size Statements

Exercise

T.S. Grewal T S Grewal Class 12 Accountancy - Analysis Of Financial Statements

T S Grewal Class 12 Accountancy - Analysis Of Financial Statements - Shaalaa.com

Textbook solutions for Class 12






















T.S. Grewal solutions for Class 12 Accountancy chapter 2 - Tools of Financial Statement Analysis-Comparative Statements and Common-Size Statements

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Concepts covered in Class 12 Accountancy chapter 2 Tools of Financial Statement Analysis-Comparative Statements and Common-Size Statements are Meaning of Analysis of Financial Statements, Significance of Analysis of Financial Statements, Objectives of Analysis of Financial Statements, Tools of Analysis of Financial Statements, Comparative Statements, Common Size Statements, Limitations of Financial Analysis.

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