CBSE Class 12 Accountancy Chapter 12 Important Questions – Free PDF Download
Free PDF download of Important Questions for CBSE Class 12 Accountancy Chapter 12 Tools for financial statement analysis prepared by expert Accountancy teachers from latest edition of CBSE(NCERT) books, On CoolGyan.Org to score more marks in CBSE board examination.
You can also Download Accountancy Revision Notes Class 12 to help you to revise complete Syllabus and score more marks in your examinations.
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% |