NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

Accountancy Class 12

Created by: Nipun Tuteja

Commerce : NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

The document NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev is a part of the Commerce Course Accountancy Class 12.
All you need of Commerce at this link: Commerce

Numerical Questions:
Question 1: Following are the balance sheets of Alpha Ltd. as at March 31st, 2016 and 2017:
NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev
ANSWER:
NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRevNCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

Page No 195:
Question 2: Following are the balance sheets of Beta Ltd. at March 31st, 2016 and 2017:
NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev
ANSWER:
NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

Question 3: Prepare Comparative Income Statement from the following information:
NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev
ANSWER:
NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

Working Notes:
1. Calculation of Net Sales
Net Sales = Cost of Goods Sold + Gross Profit - Sales Return
or, Net Sales = Purchases + Manufacturing Expenses + Change in Inventory + Gross Profit - Sales Return
Net Sales (2016) = 80,000 + 20,000 +30,000 + 90,000 - 4,000 = Rs 2,16,000
Net Sales (2017) = 1,40,000 + 50,000 - 60,000 - 30,000 - 80,000 = Rs 92,000
2. Calculation of Finance Cost
Finance Cost = Interest on short-term loans + Interest on 10% Debentures
Finance Cost (2016) = 20,000 + 1,000 = Rs 21,000
Finance Cost (2017) = 20,000 + 2,000 = Rs 22,000
3. Calculation of Other Expenses
Other Expenses = Freight Outward + Carriage Outward + Loss on sale of office car
Other Expenses (2016) = 10,000 + 10,000 + 60,000 = Rs 80,000
Other Expenses (2017) = 20,000 + 20,000 + 90,000 = Rs 1,30,000

Page No 196:
Question 4:
Prepare Comparative Income Statement from the following information:
NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev
*There is a misprint in the book, this should be 2,00,000 
ANSWER:
NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

Working Notes:
1. Calculation of Net Purchases and Change in Inventory
2. Calculation of Finance Cost
Finance Cost = Interest on Bank Overdraft + Interest on Debentures
Finance Cost (2016) = 5,000 + 20,000 = Rs 25,000
Finance Cost (2017) = 0 + 20,000 = Rs 20,000
3. Calculation of Other Expenses
Other Expenses = Carriage outward + Other operating expenses
Other Expenses (2016) = 10,000 + 20,000 = Rs 30,000
Other Expenses (2017) = 30,000 + 10,000 = Rs 40,000

Page No 197:
Question 5: Prepare a Common-size income statement of Shefali Ltd. with the help of following information:
NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev
ANSWER:
NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev
NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

Working Notes:
1. Calculation of Other Expenses
Other Expenses = Indirect Expenses = % of Gross Profit
2016=6,00,000×50%×25%=Rs 75,000
2017=8,00,000×45%×25%=Rs 90,000

Question 6: Prepare a Common Size balance sheet from the following balance sheet of Aditya Ltd. and Anjali Ltd.:

NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev
*The total of Liabilities side must be equal to the total of Assets side, therefore, it should be 10,00,000.
ANSWER:
NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

Offer running on EduRev: Apply code STAYHOME200 to get INR 200 off on our premium plan EduRev Infinity!

Complete Syllabus of Commerce

Dynamic Test

Content Category

Related Searches

Important questions

,

pdf

,

NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

,

video lectures

,

mock tests for examination

,

Objective type Questions

,

Viva Questions

,

NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

,

past year papers

,

Exam

,

Summary

,

Free

,

NCERT Solutions (Part - 2) - Analysis of Financial Statements Commerce Notes | EduRev

,

Previous Year Questions with Solutions

,

shortcuts and tricks

,

Sample Paper

,

MCQs

,

Extra Questions

,

ppt

,

Semester Notes

,

practice quizzes

,

study material

;