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Page No 3.30:
Answer:
|
In the books of D Ltd.
Comparative Balance Sheet
as at March 31, 2017 and 2018
|
||||
|
Particulars
|
2017
(Rs)
|
2018
(Rs)
|
Absolute
Change
(Rs)
|
Percentage
Change
(%)
|
|
I. Equity and Liabilities
|
|
|
|
|
|
1. Shareholders’ Funds
|
|
|
|
|
|
a. Share Capital
|
3,00,000
|
3,50,000
|
50,000
|
16.67
|
|
Shareholders’ Fund
|
3,00,000
|
3,50,000
|
50,000
|
16.67
|
|
2. Non-Current Liabilities
|
|
|
|
|
|
a. Long-term Borrowings
|
2,00,000
|
1,00,000
|
(1,00,000)
|
(50.00)
|
|
3. Current Liabilities
|
|
|
|
|
|
a. Trade Payables
|
1,00,000
|
1,50,000
|
50,000
|
50.00
|
|
Total
|
6,00,000
|
6,00,000
|
–
|
–
|
|
|
|
|
|
|
|
II. Assets
|
|
|
|
|
|
1. Non-Current Assets
|
|
|
|
|
|
a. Fixed Assets (Tangible)
|
3,00,000
|
4,00,000
|
1,00,000
|
33.33
|
|
2. Current Assets
|
|
|
|
|
|
a. Trade Receivables
|
3,00,000
|
2,00,000
|
(1,00,000)
|
(33.33)
|
|
Total
|
6,00,000
|
6,00,000
|
–
|
–
|
|
|
|
|
|
|
Page No 3.30:
Answer:
|
In the books of Radha Ltd.
Comparative Balance Sheet
as at March 31, 2017 and 2018
|
||||
|
Particulars
|
2017
(Rs)
|
2018
(Rs)
|
Absolute
Change
(Rs)
|
Percentage
Change
(%)
|
|
I. Equity and Liabilities
|
|
|
|
|
|
1. Shareholders’ Funds
|
|
|
|
|
|
a. Equity Share Capital
|
10,00,000
|
15,00,000
|
5,00,000
|
50.00
|
|
b. Reserve and Surplus
|
10,00,000
|
10,00,000
|
–
|
–
|
|
Shareholders’ Fund
|
20,00,000
|
25,00,000
|
5,00,000
|
25.00
|
|
2. Non-Current Liabilities
|
|
|
|
|
|
a. Long-term Borrowings
|
2,00,000
|
8,00,000
|
6,00,000
|
300.00
|
|
3. Current Liabilities
|
3,00,000
|
5,00,000
|
2,00,000
|
66.67
|
|
Total
|
25,00,000
|
38,00,000
|
13,00,000
|
52.00
|
|
II. Assets
|
|
|
|
|
|
1. Non-Current Assets
|
|
|
|
|
|
a. Fixed Assets (Tangible)
|
15,00,000
|
25,00,000
|
10,00,000
|
66.67
|
|
b. Intangible Assets
|
5,00,000 | 5,00,000 | - | - |
|
|
20,00,000
|
30,00,000
|
10,00,000
|
50.00
|
| 2. Current Assets | ||||
|
a. Trade Receivables
|
3,50,000 | 6,00,000 | 2,50,000 | 71.43 |
|
b. Cash and Cash Equivalents
|
1,50,000 | 2,00,000 | 50,000 | 33.33 |
|
|
5,00,000
|
8,00,000
|
3,00,000
|
60.00
|
| Total | 25,00,000 | 38,00,000 | 13,00,000 | 52.00 |
|
|
|
|
|
|
Page No 3.31:
Answer:
|
In the books of Blue Bell Ltd.
Comparative Balance Sheet
as at March 31, 2017 and 2018
|
||||
|
Particulars
|
2017
(Rs)
|
2018
(Rs) |
Absolute
Change
(Rs)
|
Percentage
Change
(%)
|
|
I. Equity and Liabilities
|
|
|
|
|
|
1. Shareholders’ Funds
|
|
|
|
|
|
a. Equity Share Capital
|
2,44,000
|
3,26,000
|
82,000
|
33.61
|
|
b. Reserves and Surplus
|
1,00,000 | 1,00,000 | - | - |
|
Shareholder's Funds
|
3,44,000
|
4,26,000
|
82,000
|
23.84
|
| 2. Non-Current Liabilities | ||||
|
a. Long-term Borrowings
|
4,38,000
|
6,96,000
|
2,58,000
|
58.90
|
|
3. Current Liabilities
|
78,000
|
2,98,000
|
2,20,000
|
282.05
|
|
Total
|
8,60,000
|
14,20,000
|
5,60,000
|
65.12
|
|
II. Assets
|
|
|
|
|
|
1. Non-Current Assets
|
|
|
|
|
|
a. Fixed Assets (Tangible)
|
4,30,000
|
5,68,000
|
1,38,000
|
32.09
|
|
b. Non-Current Investments
|
4,000
|
6,000
|
2,000
|
50.00
|
| 4,34,000 | 5,74,000 | 1,40,000 | 32.26 | |
|
2. Current Assets
|
|
|
|
|
| a. Trade Receivables | 3,76,000 | 6,46,000 | 2,70,000 | 71.81 |
| b. Cash and Cash Equivalents | 50,000 | 2,00,000 | 1,50,000 | 300.00 |
| 4,26,000 | 8,46,000 | 4,20,000 | 98.59 | |
|
Total
|
8,60,000
|
14,20,000
|
5,60,000
|
65.12
|
|
|
|
|
|
|
Page No 3.32:
Answer:
|
In the books of Wye Ltd. Comparative Balance Sheet as at March 31, 2017 and 2018 |
||||
|
Particulars |
2017 (Rs) |
2018 (Rs) |
Absolute Change (Rs) |
Comments |
|
I. Equity and Liabilities |
|
|
|
|
|
1. Shareholders’ Funds |
|
|
|
|
|
a. Equity Share Capital |
4,00,000 |
4,00,000 |
- |
No Change |
| b. Preference Share Capital | 1,00,000 | 1,00,000 | - | No Change |
|
ii. Reserve and Surplus |
1,10,000 |
1,20,000 |
10,000 |
Increase |
|
Shareholders’ Fund |
6,10,000 |
6,20,000 |
10,000 |
|
|
2. Non-Current Liabilities |
|
|
|
|
|
a. Long-term Borrowings |
|
|
|
|
|
Bank Loan |
4,50,000 |
3,50,000 |
1,00,000 |
Decrease |
|
8% Debentures |
- |
1,00,000 |
1,00,000 |
Increase |
| b. Long-Term Provision | 1,00,000 | 50,000 | 50,000 | Decrease |
|
3. Current Liabilities |
|
|
|
|
| a. Trade Payables | 3,30,000 | 5,30,000 | 2,00,000 | Increase |
|
b. Short-Term Provisions |
50,000 |
50,000 |
- |
No Change |
|
Total |
15,40,000 |
17,00,000 |
1,60,000 |
|
|
|
|
|
|
|
|
II. Assets |
|
|
|
|
|
1. Non-Current Assets |
|
|
|
|
|
a. Fixed Assets (Tangible) |
10,40,000 |
9,90,000 |
50,000 |
Decrease |
| b. Non-Current Investments | 1,00,000 | 1,00,000 | - | No Change |
|
2. Current Assets |
|
|
|
|
|
b. Trade Receivables |
3,00,000 |
5,00,000 |
2,00,000 |
Increase |
|
c. Cash and Cash Equivalents |
1,00,000 |
1,10,000 |
10,000 |
Increase |
|
Total |
15,40,000 |
17,00,000 |
1,60,000 |
|
|
|
|
|
|
|
Page No 3.33:
Answer:
|
In the books of Royal Industries Ltd. Comparative Balance Sheet as at March 31, 2017 and 2018 |
||||
|
Particulars |
2017 (Rs) |
2018 (Rs) |
Absolute Change (Rs) |
Percentage Change (%) |
|
I. Equity and Liabilities |
|
|
|
|
|
1. Shareholders’ Funds |
|
|
|
|
|
a. Equity Share Capital |
5,00,000 |
10,00,000 |
5,00,000 |
100.00 |
|
b. Reserve and Surplus |
1,00,000 |
1,00,000 |
– |
– |
|
Shareholders’ Fund |
6,00,000 |
11,00,000 |
5,00,000 |
83.33 |
|
2. Non-Current Liabilities |
|
|
|
|
|
a. Long-term Borrowings |
3,00,000 |
2,00,000 |
(1,00,000) |
(33.33) |
|
3. Current Liabilities |
|
|
|
|
|
a. Trade Payables |
1,00,000 |
2,00,000 |
1,00,000 |
100.00 |
|
Total |
10,00,000 |
15,00,000 |
5,00,000 |
50.00 |
|
II. Assets |
|
|
|
|
|
1. Non-Current Assets |
|
|
|
|
|
a. Fixed Assets (Tangible) |
4,00,000 |
8,00,000 |
4,00,000 |
100.00 |
| b. Intangible Assets | 2,00,000 | 2,00,000 | - | - |
| c. Non-Current Investments | 2,00,000 | 2,00,000 | - | - |
|
2. Current Assets |
|
|
|
|
|
a. Inventories |
1,50,000 |
2,50,000 |
1,00,000 |
66.67 |
|
b. Cash and Cash Equivalents
|
50,000 | 50,000 | ||
|
|
2,00,000
|
3,00,000
|
1,00,000
|
50.00
|
|
Total |
10,00,000 |
15,00,000 |
5,00,000 |
50.00 |
|
|
|
|
|
|
Page No 3.33:
Answer:
|
Comparative Balance Sheet as at March 31, 2017 and March 31, 2018 |
||||
|
Particulars |
2018 |
2017 |
Absolute |
Percentage |
|
I. Equity and Liabilities |
||||
|
1. Shareholders’ Funds |
||||
|
a. Share Capital |
||||
|
1. Equity Share Capital |
12,50,000 |
5,00,000 |
7,50,000 |
150.00 |
|
2. Preference Share Capital |
2,50,000 |
2,50,000 |
– |
– |
|
Total |
15,00,000 |
7,50,000 |
7,50,000 |
100.00 |
|
b. Reserve and Surplus |
3,00,000 |
4,50,000 |
(1,50,000) |
(33.33) |
|
18,00,000 |
12,00,000 |
6,00,000 |
50.00 |
|
|
2. Non-Current Liabilities |
||||
|
a. Long-term Borrowings |
||||
|
12% Secured Debentures |
9,50,000 |
5,50,000 |
4,00,000 |
72.73 |
|
12% Unsecured Debentures |
2,50,000 |
2,00,000 |
50,000 |
25.00 |
|
12,00,000 |
7,50,000 |
4,50,000 |
60.00 |
|
|
3. Current Liabilities |
||||
|
a. Short-Term Borrowings |
3,50,000 |
1,75,000 |
1,75,000 |
100.0 |
|
b. Trade Payables |
2,00,000 |
1,00,000 |
1,00,000 |
100.00 |
|
c. Short-Term Provisions |
50,000 |
25,000 |
25,000 |
100.00 |
|
Total |
36,00,000 |
22,50,000 |
13,50,000 |
60.00 |
|
II. Assets |
||||
|
1. Non-Current Assets |
||||
|
a. Fixed Assets (Tangible) |
22,50,000 |
15,00,000 |
7,50,000 |
50.00 |
|
2. Current Assets |
||||
|
a. Inventories |
4,50,000 |
2,50,000 |
2,00,000 |
80.00 |
|
b. Trade Receivables |
8,00,000 |
4,50,000 |
3,50,000 |
77.78 |
|
c. Cash and Cash Equivalents |
1,00,000 |
50,000 |
50,000 |
100.00 |
|
Total |
36,00,000 |
22,50,000 |
13,50,000 |
60.00 |
|
|
|
|
|
|
Page No 3.34:
Answer:
|
Comparative Balance Sheet of Depth Ltd.
as at March 31, 2017 and March 31, 2018 |
||||
|
Particulars
|
2018
(Rs)
|
2017
(Rs)
|
Absolute
Change
(Rs)
|
Percentage
Change
(%)
|
|
I. Equity and Liabilities
|
||||
|
1. Shareholders’ Funds
|
||||
|
a. Share Capital
|
2,80,000
|
1,80,000
|
1,00,000
|
55.56
|
|
b. Reserve and Surplus
|
1,00,000
|
1,00,000
|
–
|
–
|
|
Total
|
3,80,000
|
2,80,000
|
1,00,000
|
35.71
|
|
2. Non-Current Liabilities
|
||||
|
Long-term Borrowings
|
80,000
|
20,000
|
60,000
|
300.00
|
|
3. Current Liabilities
|
||||
|
Trade Payables
|
50,000
|
30,000
|
20,000
|
66.67
|
|
Total
|
5,10,000
|
3,30,000
|
1,80,000
|
54.55
|
|
II. Assets
|
||||
|
1. Non-Current Assets
|
||||
|
a. Fixed Assets
|
||||
|
i. Tangible Assets
|
2,80,000
|
1,80,000
|
1,00,000
|
55.56
|
|
ii. Intangible Assets
|
50,000
|
30,000
|
20,000
|
66.67
|
|
b. Non-Current Investments
|
80,000
|
50,000
|
30,000
|
60.00
|
|
Total
|
4,10,000
|
2,60,000
|
1,50,000
|
57.69
|
|
2. Current Assets
|
||||
|
a. Inventories
|
70,000
|
30,000
|
40,000
|
133.33
|
|
b. Cash and Cash Equivalents
|
30,000
|
40,000
|
(10,000)
|
(25.00)
|
|
1,00,000
|
70,000
|
30,000
|
42.86
|
|
|
Total
|
5,10,000
|
3,30,000
|
1,80,000
|
54.55
|
|
|
|
|
|
|
Page No 3.34:
Question 8:
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% |
Answer:
|
Comparative Income Statement for the year ended March 31, 2014 and 2015 |
||||
|
Particulars |
2014 (Rs) |
2015 (Rs) |
Absolute Change (Rs) |
Percentage Change (%) |
|
I. Revenue from Operations |
45,00,000 |
60,00,000 |
15,00,000 |
33.33 |
|
II. Expenses |
|
|
|
|
|
a. Depreciation |
6,00,000 |
7,50,000 |
1,50,000 |
25.0 |
|
b. Employees Benefit Expenses |
22,50,000 |
30,00,000 |
7,50,000 |
33.33 |
|
c. Other Expenses |
10,00,000 |
15,50,000 |
5,50,000 |
55.0 |
|
|
38,50,000 |
53,00,000 |
14,50,000 |
37.66 |
|
Profit before Income Tax |
6,50,000 |
7,00,000 |
50,000 |
7.69 |
|
Less: Income Tax |
1,95,000 |
2,10,000 |
15,000 |
7.69 |
|
Profit after Income Tax |
4,55,000 |
4,90,000 |
35,000 |
7.69 |
|
|
|
|
|
|
Page No 3.35:
Answer:
|
Comparative Income Statement for the year ended March 31, 2017 and 2018 |
||||
|
Particulars |
2017 |
2018 |
Absolute Change (Rs) |
Percentage Change (%) |
|
I. Revenue from Operations |
3,00,000 |
3,50,000 |
50,000 |
16.67 |
|
II. Expenses |
|
|
|
|
|
a. Purchase of Stock-in-Trade |
1,80,000 |
2,10,000 |
30,000 |
16.67 |
|
b. Changes in Inventories of Stock-in-Trade |
20,000 |
15,000 |
(5,000) |
(25.00) |
|
c. Employees Benefit cost |
15,000 |
17,500 |
2,500 |
16.67 |
|
d. Other Expenses |
5,000 |
7,500 |
2,500 |
50.00 |
|
|
2,20,000 |
2,50,000 |
30,000 |
13.67 |
| Profit before Income Tax (I-II) | 80,000 | 1,00,000 | 20,000 | 25.00 |
|
Less: Income Tax |
24,000 |
30,000 |
6,000 |
25.00 |
|
Profit after Income Tax |
56,000 |
70,000 |
14,000 |
25.00 |
|
|
|
|
|
|
Page No 3.35:
Answer:
|
Comparative Income Statement for the year ended March 31, 2017 and 2018 |
||||
|
Particulars |
2017 (Rs) |
2018 (Rs) |
Absolute Change (Rs) |
Percentage Change (%) |
|
I. Revenue from Operations |
2,50,000 |
3,00,000 |
50,000 |
20.00 |
|
II. Expenses: |
|
|
|
|
|
a. Cost of Materials Consumed |
1,00,000 |
1,20,000 |
20,000 |
20.00 |
|
b. Changes in Inventories of WIP and Finished Goods |
5,000 |
(2,000) |
(7,000) |
(140.00) |
|
c. Employees Benefit Expenses (Wages) |
25,000 |
30,000 |
5,000 |
20.00 |
|
d. Other Expenses |
20,000 |
22,000 |
2,000 |
10.00 |
|
|
1,50,000 |
1,70,000 |
20,000 |
13.33 |
| Profit before Income Tax (I-II) | 1,00,000 | 1,30,000 | 30,000 | 30.00 |
|
Less: Income Tax |
– |
– |
– |
– |
|
Profit after Income Tax |
1,00,000 |
1,30,000 |
30,000 |
30.00 |
|
|
|
|
|
|
Page No 3.36:
Answer:
|
Comparative Income Statement
for the year ended March 31, 2017 and 2018
|
||||
|
Particulars
|
March 31, 2017
(Rs)
|
March 31, 2018
(Rs)
|
Absolute
Change
(Rs)
|
Percentage
Change
(%)
|
|
I. Revenue from operations
|
20,00,000
|
30,00,000
|
10,00,000
|
50.00
|
|
II. Other Income
|
4,00,000
|
3,60,000
|
(40,000)
|
(10.00)
|
|
III. Total Revenue (I + II)
|
24,00,000
|
33,60,000
|
9,60,000
|
40.00
|
|
IV. Expenses
|
12,00,000
|
21,00,000
|
9,00,000
|
75.00
|
|
Profit before Income Tax
|
12,00,000
|
12,60,000
|
60,000
|
5.00
|
|
Less: Income Tax @ 40%
|
4,80,000
|
5,04,000
|
24,000
|
5.00
|
|
Profit after Income Tax
|
7,20,000
|
7,56,000
|
36,000
|
5.00
|
|
|
|
|
|
|
|
Particulars
|
2017
(Rs)
|
2018
(Rs)
|
|
Revenue From Operations
|
20,00,000
|
30,00,000
|
|
% of Revenue From Operations
|
20%
|
12%
|
|
Other Income
|
4,00,000
|
3,60,000
|
|
Particulars
|
2017
(Rs)
|
2018
(Rs)
|
|
Revenue From Operations
|
20,00,000
|
30,00,000
|
|
% of Revenue From Operations
|
60%
|
70%
|
|
Expenses
|
12,00,000
|
21,00,000
|
Page No 3.36:
Answer:
|
Comparative Income Statement
for the year ended 31st March, 2017 and 2018
|
||||
|
Particulars
|
March 31, 2017
(Rs)
|
March 31, 2018
(Rs)
|
Absolute
Change
(Rs)
|
Percentage
Change
(%)
|
|
I. Revenue from Operations (WN1)
|
12,00,000
|
16,80,000
|
4,80,000
|
40.00
|
|
II. Expenses
|
|
|
|
|
|
a. Cost of Material Consumed
|
6,00,000
|
13,44,000
|
7,44,000
|
124.00
|
|
b. Other Expenses (WN2)
|
1,20,000
|
1,68,000
|
48,000
|
40.00
|
|
|
7,20,000
|
15,12,000
|
7,92,000
|
110.00
|
| Profit before Income Tax (I-II) | 4,80,000 | 1,68,000 | (3,12,000) | (65.00) |
|
Less: Income Tax @ 50%
|
2,40,000
|
84,000
|
(1,56,000)
|
(65.00)
|
|
Profit after Income Tax
|
2,40,000
|
84,000
|
1,56,000
|
(65.00)
|
|
|
|
|
|
|
Working Notes:
|
Particulars
|
2017
(Rs)
|
2018
(Rs)
|
|
Cost of Materials Consumed
|
6,00,000
|
13,44,000
|
|
% of Materials Consumed
|
200%
|
125%
|
|
Revenue from Operations
|
12,00,000
|
16,80,000
|
|
Particulars
|
2017
(Rs)
|
2018
(Rs)
|
|
Revenue From Operations
|
12,00,000
|
16,80,000
|
|
% of Operating Revenue
|
10%
|
10%
|
|
Other Expenses
|
1,20,000
|
1,68,000
|
Page No 3.36:
Answer:
|
Comparative Income Statement for the year ended March 31, 2017 and 2018 |
||||
|
Particulars |
2017 (Rs) |
2018 (Rs) |
Absolute Change (Rs) |
Percentage Change (%) |
|
I. Revenue from Operations |
40,00,000 |
50,00,000 |
10,00,000 |
25.00 |
|
II. Expenses: |
|
|
|
|
|
a. Purchases of Stock-in-Trade |
28,50,000 |
34,00,000 |
5,50,000 |
19.30 |
|
b. Changes in Inventories of Stock-in-Trade |
1,50,000 |
1,00,000 |
(50,000) |
(33.33) |
|
c. Employees Benefit Expenses |
1,00,000 |
1,00,000 |
– |
– |
|
d. Other Expenses |
1,50,000 |
2,00,000 |
50,000 |
33.33 |
|
|
32,50,000 |
38,00,000 |
5,50,000 |
16.92 |
Profit before Income Tax (I-II) |
7,50,000 |
12,00,000 |
4,50,000 |
60.00 |
|
Less: Income Tax |
– |
– |
– |
– |
|
Profit after Income Tax |
7,50,000 |
12,00,000 |
4,50,000 |
60.00 |
|
|
|
|
|
|
Page No 3.37:
Answer:
|
Comparative Income Statement for the year ended March 31, 2017 and 2018 |
||||
|
Particulars |
March 31, 2017 (Rs) |
March 31, 2018 (Rs) |
Absolute Change (Rs) |
Percentage Change (%) |
|
I. Revenue from Operations |
40,00,000 |
50,00,000 |
10,00,000 |
25.00 |
|
II. Other Income |
2,00,000 |
3,00,000 |
1,00,000 |
50.00 |
| III. Total Revenue (I + II) | 42,00,000 | 53,00,000 | 11,00,000 | 26.19 |
|
IV. Expenses |
|
|
|
|
|
a. Purchases of Stock-in-Trade |
32,00,000 |
34,00,000 |
2,00,000 |
6.25 |
|
b. Changes in Inventory of Stock-in-Trade |
(2,00,000) |
1,00,000 |
3,00,000 |
150.00 |
|
c. Employee Benefit Expenses |
1,00,000 |
1,00,000 |
– |
– |
|
d. Finance Cost |
50,000 |
45,000 |
(5,000) |
(10.00) |
|
e. Depreciation |
25,000 |
30,000 |
5,000 |
20.00 |
|
f. Other Expenses |
3,00,000 |
3,25,000 |
25,000 |
8.33 |
| 34,75,000 | 40,00,000 | 5,25,000 | 15.10 | |
|
|
|
|
|
|
|
Less: Income Tax |
– |
– |
– |
– |
|
Profit after Income Tax |
7,25,000 |
13,00,000 |
5,75,000 |
79.31 |
|
|
|
|
|
|
Page No 3.37:
Answer:
|
Comparative Income Statement for the year ended March 31, 2017 and 2018 |
||||
|
Particulars |
March 31, 2017 (Rs) |
March 31, 2018 (Rs) |
Absolute Change (Rs) |
Percentage Change (%) |
|
I. Revenue from operations |
25,00,000 |
37,50,000 |
12,50,000 |
50.00 |
|
II. Other Income |
5,00,000 |
4,50,000 |
(50,000) |
(10.00) |
|
III. Total Revenue (I + II) |
30,00,000 |
42,00,000 |
12,00,000 |
40.00 |
|
IV. Expenses |
|
|
|
|
|
a. Cost of Materials Consumed |
12,50,000 |
22,50,000 |
10,00,000 |
80.00 |
|
b. Other Expenses |
2,50,000 |
3,75,000 |
1,25,000 |
50.00 |
| 15,00,000 | 26,25,000 | 11,25,000 | 75.00 | |
|
Profit before Income Tax |
15,00,000 |
15,75,000 |
75,000 |
5.00 |
|
Less: Income Tax @ 50% |
7,50,000 |
7,87,500 |
37,500 |
5.00 |
|
Profit after Income Tax |
7,50,000 |
7,87,500 |
37,500 |
5.00 |
|
|
|
|
|
|
Page No 3.38:
Question 16:
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, |
||
| 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%.
Answer:
|
Comparative Income Statement for the year ending March 31, 2012 and 2013 |
|
|||||
|
Particulars |
Note No. |
2012 (Rs) |
2013 (Rs) |
Absolute Change (Rs) |
Percentage Change |
|
|
1. Revenue from Operations |
|
8,00,000 |
14,00,000 |
6,00,000 |
75 |
|
|
2. Other Income |
|
4,00,000 |
6,00,000 |
2,00,000 |
50 |
|
|
3. Total Revenue (1 + 2) |
|
12,00,000 |
20,00,000 |
8,00,000 |
66.67 |
|
|
4. Expenses |
|
|
|
|
|
|
| a. Other Expenses |
|
11,00,000
|
17,00,000
|
6,00,000
|
54.55
|
|
|
Total Expenses |
|
11,00,000 |
17,00,000 |
6,00,000 |
54.55 |
|
|
5. Profit before Tax ( 3- 4) |
|
1,00,000 |
3,00,000 |
2,00,000 |
200 |
|
|
Less: Income Tax (40%) |
|
40,000 |
1,20,000 |
80,000 |
200 |
|
|
6. Profit After Tax |
|
60,000 |
1,80,000 |
1,20,000 |
200 |
|
|
|
|
|
|
|
|
|
Page No 3.38:
Answer:
|
Comparative Income Statement for the year ended March 31, 2017 and 2018 |
||||
|
Particulars |
March 31, 2017 (Rs) |
March 31, 2018 (Rs) |
Absolute Change (Rs) |
Percentage Change (%) |
|
I. Revenue from Operations |
17,50,000 |
20,00,000 |
2,50,000 |
14.29 |
|
II. Other Income |
50,000 |
75,000 |
25,000 |
50.00 |
|
III. Total Revenue (I + II) |
18,00,000 |
20,75,000 |
2,75,000 |
15.28 |
|
IV. Expenses |
|
|
|
|
|
a. Purchases of Stock-in-Trade |
10,00,000 |
11,60,000 |
1,60,000 |
16.00 |
|
b. Changes in Inventory of Stock-in-Trade |
(25,000) |
10,000 |
35,000 |
140.00 |
|
c. Employee Benefit Expenses |
3,00,000 |
3,00,000 |
– |
– |
|
d. Depreciation |
50,000 |
50,000 |
– |
– |
|
e. Other Expenses |
75,000 |
90,000 |
15,000 |
20.00 |
| 14,00,000 | 16,10,000 | 2,10,000 | 15.00 | |
|
Profit before Income Tax |
4,00,000 |
4,65,000 |
65,000 |
16.25 |
|
Less: Income Tax |
– |
– |
– |
– |
|
Profit after Income Tax |
4,00,000 |
4,65,000 |
65,000 |
16.25 |
|
|
|
|
|
|
Page No 3.39:
Question 18:
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%
|
|||
Answer:
|
Common Size Statement of Profit and Loss
for the year ended March 31, 2015 and 2016
|
||||
|
Particulars
|
Absolute Amount
|
Percentage of Revenue from Operations
|
||
|
2014-15
(Rs)
|
2015-16
(Rs)
|
2014-15
(%)
|
2015-16
(%)
|
|
| I. Revenue from Operations |
20,00,000
|
25,00,000
|
100
|
100
|
| II. Other Income | ||||
| Total Revenue (I + II) |
20,00,000
|
25,00,000
|
100
|
100
|
| Less: Expenses: |
|
|
||
| Employees Benefit cost |
7,00,000
|
10,00,000
|
35
|
40
|
| Other Expenses |
3,00,000
|
2,00,000
|
15
|
8
|
| Profit before Tax |
10,00,000
|
13,00,000
|
50
|
52
|
| Less: Tax @ 40% |
4,00,000
|
5,20,000
|
20
|
20.80
|
| Profit after Tax |
6,00,000
|
7,80,000
|
30
|
31.20
|
Page No 3.39:
Question 19:
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 |
Answer:
|
Common Size Income Statement for the year ended March 31, 2018 |
||
|
Particulars |
Absolute Amount (Rs) |
Percentage of Revenue of Revenue from Operations (%) |
|
I. Revenue from Operations |
15,00,000 |
100.00 |
|
II. Other Incomes |
60,000 |
4.00 |
|
Total Revenue (I +II) |
15,60,000 |
104.00 |
|
IV. Expenses |
|
|
|
a. Purchases of Stock-in-Trade |
7,50,000 |
50.00 |
|
b. Change in Inventories of Stock-in-Trade |
50,000 |
3.33 |
|
c. Other Expenses |
2,10,000 |
14.00 |
|
Profit before Income Tax |
5,50,000 |
36.67 |
|
Less: Income Tax |
– |
– |
|
Profit after Income Tax |
5,50,000 |
36.67 |
|
|
|
|
Page No 3.39:
Answer:
|
Common Size Income Statement for the year ended March 31, 2017 and 2018 |
||||
|
Particulars |
Absolute Amount (Rs) |
Percentage of Revenue (%) |
||
|
2017 |
2018 |
2017 |
2018 |
|
|
I. Revenue from Operations |
15,00,000 |
18,01,000 |
100 |
100 |
|
II. Other Incomes |
15,000 |
20,000 |
1 |
1.11 |
|
Total Revenues (I + II) |
15,15,000 |
18,21,000 |
101 |
101.11 |
|
IV. Expenses |
|
|
|
|
|
a. Purchase of Stock-in-Trade |
9,00,000 |
10,22,500 |
60.00 | 56.77 |
|
b. Change in Inventories of Stock-in-Trade |
10,000 |
(10,000) |
0.67 | (0.55) |
|
c. Employees Benefit Expenses |
3,00,000 |
3,30,000 |
20.00 | 18.32 |
|
d. Other Expenses |
1,70,000 |
2,00,000 |
11.33 | 11.10 |
| 13,80,000 | 15,42,500 | 92 | 85.65 | |
|
Profit before Income Tax |
1,35,000 |
2,78,500 |
9.00 | 15.46 |
|
Less: Income Tax |
– |
– |
- | - |
|
Profit after Income Tax |
1,35,000 |
2,78,500 |
9.00 | 15.46 |
|
|
|
|
|
|
Page No 3.40:
Question 21:
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 |
|
Answer:
|
Common Size Income Statement for the year ended….. |
||||
|
Particulars |
Absolute Amount (Rs) |
Percentage of Revenue (%) |
||
|
Year 1 |
Year II |
Year 1 |
Year II |
|
|
I. Revenue from Operations |
14,00,000 |
16,00,000 |
100.00 |
100.00 |
|
II. Expenses |
|
|
|
|
|
a. Purchases of Stock-in-Trade |
9,00,000 |
10,00,000 |
64.28 |
62.5 |
|
b. Change in Inventories of Stock-in-Trade |
1,00,000 |
1,80,000 |
7.14 |
11.25 |
|
c. Finance Cost |
80,000 |
80,000 |
5.71 |
5.00 |
|
d. Other Expenses |
90,000 |
1,30,000 |
6.43 |
8.12 |
|
Profit before Income Tax |
2,30,000 |
2,10,000 |
16.43 |
13.13 |
|
Less: Income Tax |
40,000 |
36,000 |
2.84 |
2.25 |
|
Profit after Income Tax |
1,90,000 |
1,74,000 |
13.57 |
10.88 |
|
|
|
|
|
|
Page No 3.40:
Answer:
|
Common Size Balance Sheet as at March 31, 2018 |
||||
|
Particulars |
Absolute Amount (Rs) |
Percentage of Balance Sheet Total (%) |
||
|
X Ltd. |
Y Ltd. |
X Ltd. |
Y Ltd. |
|
|
I. Equity and Liabilities |
|
|
|
|
|
1. Shareholders’ Funds |
|
|
|
|
|
a. Share Capital |
9,00,000 |
12,00,000 |
60.00 |
66.67 |
|
b. Reserve and Surplus |
4,00,000 |
3,50,000 |
26.67 |
19.44 |
|
2. Current Liabilities |
|
|
|
|
|
a. Trade Payables |
2,00,000 |
2,50,000 |
13.33 |
13.89 |
|
Total |
15,00,000 |
18,00,000 |
100.00 |
100.00 |
|
II. Assets |
|
|
|
|
|
1. Non-Current Assets |
|
|
|
|
|
a. Fixed Assets |
10,00,000 |
16,00,000 |
66.67 |
88.89 |
|
2. Current Assets |
|
|
|
|
|
a. Trade Receivables |
5,00,000 |
2,00,000 |
33.33 |
11.11 |
|
Total |
15,00,000 |
18,00,000 |
100.00 |
100.00 |
|
|
|
|
|
|
Comments:
1. Y Ltd. has a greater share of Capital in the total sources of funds i.e. 66.67% in comparison to 60% of X Ltd.
2. X Ltd. retains 26.67% of their earnings as a part of Reserves and Surplus. Whereas, Y Ltd. retains only 19.44% of their earnings.
3. Y Ltd. has invested major portion of its funds on acquiring the Fixed Assets as these are 88.89% of the total application of funds in comparison to 66.67% of X Ltd. On the other hand, X Ltd. emphasises more on Current Assets as these are 33.33% of the total applications of funds in comparison to 11.11% of Y Ltd.
Page No 3.41:
Answer:
|
Common Size Balance Sheet as at March 31, 2017 and 2018 |
||||
|
Particulars |
Absolute Amount (Rs) |
Percentage of Balance Sheet Total (%) |
||
|
March 31, 2017 |
March 31, |
March 31, |
March 31, 2018 |
|
|
I. Equity and Liabilities |
|
|
|
|
|
1. Shareholders’ Funds |
|
|
|
|
|
a. Share Capital |
|
|
|
|
|
(i) Equity Share Capital |
8,00,000 |
6,00,000 |
42.11 |
42.55 |
|
(ii) Preference Share Capital |
4,00,000 |
2,00,000 |
21.05 |
14.18 |
|
b. Reserves and Surplus |
2,00,000 |
2,00,000 |
10.53 |
14.18 |
|
2. Non-Current Liabilities |
|
|
|
|
|
a. Long-Term Borrowings |
2,00,000 |
2,00,000 |
10.53 |
14.18 |
|
3. Current Liabilities |
|
|
|
|
|
a. Short-Term Borrowings |
1,50,000 |
90,000 |
7.89 |
6.38 |
|
b. Trade Payables |
1,25,000 |
1,00,000 |
6.58 |
7.09 |
|
c. Short-Term Provisions |
25,000 |
20,000 |
1.31 |
1.42 |
|
Total |
19,00,000 |
14,10,000 |
100.00 |
100.00 |
|
II. Assets |
|
|
|
|
|
1. Non-Current Assets |
|
|
|
|
|
a. Fixed Assets |
|
|
|
|
|
(i) Tangible |
8,00,000 |
6,00,000 |
42.10 |
42.55 |
|
(ii) Intangible |
2,00,000 |
2,00,000 |
10.53 |
14.18 |
| 10,00,000 | 8,00,000 | 52.63 | 56.73 | |
|
b. Non-Current Investments
|
2,00,000 | 2,00,000 | 10.53 | 14.18 |
|
2. Current Assets |
|
|
|
|
|
a. Inventories |
2,50,000 |
1,75,000 |
13.16 |
12.41 |
|
b. Trade Receivables |
2,75,000 |
1,45,000 |
14.47 |
10.28 |
|
c. Cash and Cash Equivalents |
1,75,000 |
90,000 |
9.21 |
6.38 |
| 7,00,000 | 4,10,000 | 36.84 | 29.08 | |
|
Total |
19,00,000 |
14,10,000 |
100.00 |
100.00 |
|
|
|
|
|
|
View NCERT Solutions for all chapters of Class 15