Important Questions Class 12 Accountancy Chapter 12 Tools for financial statement analysis


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CBSE Class 12 Accountancy Important Questions Chapter 12 Tools for financial statement analysis


1: Prepare a ‘Common Size Balance Sheet’ on the basis of the inform motion given in the Balance Sheet of Z Ltd. As at 31st March 2015.

ParticularsNote 
No.
31-3-2015 
Rs.
1. EQUITY AND LIABILITIES 
(1) Shareholders’ funds
(a) Share capital
(b) Reserves and surplus
(2) Non-current Liabilities
(a) Long-term borrowings
(3) Current liabilities
(a) Trade payables
Total
II. ASSETS
(1) Non-current assets
(a) Fixed assets
(i) Tangible Assets
(b) Non-current investments
(2) Current Assets
(a) Inventories
(b) Trade receivables
(c) Cash and cash equivalents
Total
6,00,000 
1,00,000
2,50,000
50,000
10,00,000
6,50,000 
1,50,000
70,000
50,000
80,000
10,00,000

Solution:
Common Size Balance Sheet of Z Ltd.
As at 31st March, 2015

ParticularsNote
No.
Absolute Amount
Rs.
Percent age of Balance Sheet Total
1. EQUITY AND LIABILITIES 
(1) Shareholders’ funds
(a) Share capital
(b) Reserves and surplus
(2) Non-current Liabilities
(a) Long-term borrowings
(3) Current liabilities
(a) Trade payable
Total
6,00,000 
1,00,000
2,50,000
50,000
60% 
10%
25%
5%
10,00,000100%
II. ASSETS 
(1) Non-current assets
(a) Fixed assets
(i) Tangible Assets
(b) Non-current investments
(2) Current Assets
(a) Inventories
(b) Trade receivables
(c) Cash and cash equivalents
Total
6,50,000 
1,50,000
70,000
50,000
80,000
65% 
15%
7%
5%
8%
10,00,000100%

2: From the following information for the years ended on 31st March, 2014 and 2015, prepare a ‘Comparative Statement of Profit & Loss’ of Beta Ltd.

ParticularsNote 
No.
2014 – 20152013 – 2014
Revenue from operations 
Expenses
Other incomes
7,00,000 
4,50,000
75,000
5,00,000 
3,75,000
1,00,000

Rate of Income Tax was 50%
Solution :
Comparative Statement of Profit and Loss of Beta Ltd for the years ended
31st March, 2014 and 2015

ParticularsNote 
No.
2014 – 20152013 – 2014Absolute changeChange in in % age
Revenue from operations 
Add : Other Incomes
Total Revenue
Less : Expenses
Profit before tax
Less : Tax @ 50%
Profit after tax
5,00,000 
1,00,000
6,00,000
3,75,000
2,25,000
1,12,500
7,00,000 
75,000
7,75,000
4,50,000
3,25,000
1,62,500
2,00,000 
(25,000)
1,75,000
75,000
1,00,000
50,000
40% 
(25%)
29.17%
20%
44.44%
44.44%

3: Prepare a Comparative Income Statement and Common Size Statement of Profit and Loss from the following information :

Particulars31st March31st March
20142015
Revenue from operations 
(% of cost of Material Concerned)
Cost of Material Consumed
Other expenses (% of Revenue from Operations)
Other Income
Tax Rate
125% 
2,40,000
10%
15,000
30%
140% 
2,50,000
12%
20,000
30%

Solution :
Common Size Statement of Profit and Loss
For the years ended on 31st March, 2014 and 2015

ParticularsAbsoluteAmountsPercentage of Revenue from Operations 
(Net Sales)
2014 (Rs.)2015 (Rs.)2014%2015%
I. Revenue from operations 
II. Add : Other Incomes
III. Total Revenue(I+II)
IV. Expenses
a. Cost of Material Consumed
b. Other expenses
Total Expenses
V. Profit before tax (III-IV)
Less : Tax @ 50%
VI. Profit after tax
3,00,000 
15,000
3,50,000 
20,000
100.00 
5.00
100.00 
5.71
3,15,0003,70,0000105.00105.71
2,40,000 
30,000
2,50,000 
42,000
80.00 
10.00
71.43 
12.00
2,70,0002,92,00090.0083.43
45,000 
(13,500)
78,000 
(23,400)
15.00 
(4.50)
22.28 
(6.69)
31,50054,60010.5015.59

COMPARATIVE INCOME STATEMENT
For the years ended on 31st March, 2014 and 2015

ParticularsAbsoluteAmountsAbsolute ChangePercentage Change
2014 (Rs.)2015 (Rs.)(Rs.)%
I. Revenue from operations 
II. Add : Other Incomes
III. Total Revenue(I+II)
IV. Expenses
c. Cost of Material Consumed
d. Other expenses
Total Expenses
V. Profit before tax (III-IV)
Less : Income Tax
VI. Profit after tax
3,00,000 
15,000
3,50,000 
20,000
50,000 
5,000
16.67 
33.33
3,15,0003,70,0000105.0017.46
2,40,000 
30,000
2,50,000 
42,000
10,000 
12,000
4.16 
40.00
2,70,0002,92,00090.008.15
45,000 
(13,500)
78,000 
(23,400)
33,000 
(9,900)
73.33 
73.33
31,50054,60023,10073.33

4: Fill in the missing information in the following comparative statement of profit and loss.
Comparative Statement of Profit and Loss for the year ended 31st March 2014 and 2015

ParticularsNote No.AbsoluteAmountsAbsolute ChangePercentage Change
I. Revenue from operations 
II. Add : Other Incomes
III. Total Revenue(I+II)
IV. Expenses:
e. Cost of Material Consumed
f. Other expenses
Total Expenses
V. Profit before tax (III-IV)
Less : Income Tax @ 30 %
VI. Profit after tax
— 
25,000
——— 
65,000
— 
— 
25,000
6,00,000 
2,00,000 
— 
60,000
— 
60,000
— 
75,000
— 
— 

Solution :
Comparative Statement of Profit and Loss
For the years ended on 31st March, 2014 and 2015

ParticularsNote No.2013-14 (Rs.)2014-15 (Rs.)Absolute Change (Rs.)Percentage Change 
%
I. Revenue from operations 
II. Add : Other Incomes
III. Total Revenue(I+II)
IV. Expenses:
g. Cost of Material Consumed
h. Other expenses
Total Expenses
V. Profit before tax (III-IV)
Less : Income Tax @ 30 %
VI. Profit after tax
6,00,000 
25,000
8,00,000 
90,000
2,00,000 
65,000
33.33% 
260%
6,25,0008,90,0002,65,00042.4%
4,00,000 
25,000
6,00,000 
40,000
2,00,000 
15,000
50% 
60%
4,25,0006,40,0002,15,00050,59%
2,00,000 
60,000
2,50,000 
75,000
50,000 
15,000
25% 
25%
1,40,0001,75,00035,00025%