Sample Questions - Common Size Statements | Crash Course of Accountancy - Class 12 - Commerce PDF Download

                                                     Common Size Statements
Time – 50 mins

M.M. - 30

Q1. State the limitations of financial statement analysis? (2 marks)

Q2. Give the headings under which the following items will be shown in a company's Balance Sheet:
(a) Cash in hand                        (d) Debentures
(b) Land                                      (e) Capital Redemption Reserve
(c) Sundry Debtors                    (f) Loose Tools
(3 marks)

Q3. The following credit balances were extracted from the books of Rama Ltd. on 31st March, 2013:
Share Capital (40,000 shares of ~ 10 each fully paid) 4,00,000
Securities Premium ...........................................................................40,000
12% Debentures .................................................................................2,00,000
Fixed Deposits from Public ................................................................35,000
Sundry Creditors ................................................................................17,500
Provision for Taxation ........................................................................7,500
Draw up the 'liabilty' side of the Balance Sheet according to the requirements of the Companies Act, 2013. Also prepare Notes. (2 marks)

Q4. The following debit balances were extracted from the books of Shruti Ltd. as on 31st March, 2013:
Land & Building                            2,00,000                     Debtors                 1,50,000
Plant & Machinery                        8,00,000                     Cash at Bank        38,000
Goodwill                                         2,00,000                     Stock-in-Trade     90,000
Investments in Properties           2,00,000                      Loose Tools           5,000
Bills Receivable                             50,000                          Cash on Hand       17,000
Draw up the 'Assets' side of the Balance Sheet according to the requirements of the Companies Act, 2013. Also prepare notes. (3 marks)

Q5. Prepare a statement for showing the percentage changes in the  performance of Lakha ltd.

Particulars                                                             2012            2011
Revenue from operations                                   5,00,000     4,00,000
Cost of Revenue from operations                      half of the RFO
Selling expenses                                                   one tenth of cogs
Dividend received                                                20,000         10,000
Income tax                                                            50 %             40 %
(4 marks)

Q6. From the following information, prepare comparative statements:
                                                                           31, march 2013              31, march 2014
Revenue from operations                              12 lac                                16 lac
Purchase of stock in trade                             7.60lac                             9 lac
Change in inventory                                       40,000                             (50,000)
Employee benefit expenses                           20% of RFO                     18% of RFO
Tax rate                                                            50%                                   50%
(4 marks)

Q7. What is financial statement analysis and name the different tools of financial statement analysis? (2 marks)

Q8. Prepare Comparative and common size Balance Sheet from the following information:

(6 marks)

Q9. Mudra Ltd. is in the process of preparing its Balance Sheet as per Schedule III, Part I of the Companies Act, 2013 and provides its true and fair view of the financial position.
(a) Under which head and sub-head will the company show ‘Stores and Spares’ in its Balance Sheet?
(b) What is the accounting treatment of ‘Stores and Spares’ when the Company will calculate its Inventory Turnover Ratio?
(c) The management of Mudra Ltd. want to analyse its Financial Statements. State any two objectives of such analysis.
(d) Identify the value being followed by Mudra Ltd.
(4 marks)