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

## CBSE Class 12 Accountancy Chapter 12 Important Questions – Free PDF Download

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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.

 Particulars Note  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

 Particulars Note 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% 10,00,000 100% 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% 10,00,000 100%

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.

 Particulars Note  No. 2014 – 2015 2013 – 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

 Particulars Note  No. 2014 – 2015 2013 – 2014 Absolute change Change 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 :

 Particulars 31st March 31st March 2014 2015 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

 Particulars Absolute Amounts Percentage 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 3,15,000 3,70,0000 105.00 105.71 2,40,000  30,000 2,50,000  42,000 80.00  10.00 71.43  12.00 2,70,000 2,92,000 90.00 83.43 45,000  (13,500) 78,000  (23,400) 15.00  (4.50) 22.28  (6.69) 31,500 54,600 10.50 15.59

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

 Particulars Absolute Amounts Absolute Change Percentage 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 3,15,000 3,70,0000 105.00 17.46 2,40,000  30,000 2,50,000  42,000 10,000  12,000 4.16  40.00 2,70,000 2,92,000 90.00 8.15 45,000  (13,500) 78,000  (23,400) 33,000  (9,900) 73.33  73.33 31,500 54,600 23,100 73.33

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

 Particulars Note No. Absolute Amounts Absolute Change Percentage 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

 Particulars Note 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% 6,25,000 8,90,000 2,65,000 42.4% 4,00,000  25,000 6,00,000  40,000 2,00,000  15,000 50%  60% 4,25,000 6,40,000 2,15,000 50,59% 2,00,000  60,000 2,50,000  75,000 50,000  15,000 25%  25% 1,40,000 1,75,000 35,000 25%