Topics
Introduction to Partnership and Partnership Final Accounts
- Partnership
- Partnership Deed
- Provision of the Indian Partnership Act 1932
- Methods of Capital Accounts - Fixed and Fluctuating Capital Method
- Partnership Final Accounts
Introduction to Partnership
Accounts of ‘Not for Profit’ Concerns
- Accounts of “Not for Profit” Concerns
- Receipts and Payments Account
- Income and Expenditure Account
Partnership Final Accounts
- Introduction of Final Accounts
- Preparation of Final Accounts
- Effects of Adjustments-Closing Stock
- Effects of Adjustments-Outstanding Expenses
- Effects of Adjustments-Prepaid Expenses
- Effects of Adjustments-Income Received in Advance
- Adjustments - Income Receivable
- Effects of Adjustments-Bad and Doubtful Debts
- Effects of Adjustments-Provision for Discount on Debtors and Creditors
- Effects of Adjustments-Depreciation
- Adjustments - Interest on Capital, Drawings and Loans
- Adjustments - Interest on Investment and Loans
- Adjustments - Goods Destroyed by Fire Or Accident (Insured Or Uninsured)
- Adjustments - Goods Stolen
- Adjustments of Financial Statements - Goods Distributed as Free Samples and Manager's Commission
- Adjustments - Goods Withdrawn by Partners
- Adjustments - Unrecorded Purchases and Sales
- Adjustments - Capital Expenditure Included in Revenue Expenses and Vice-versa
- Adjustments - Bills Receivable Dishonoured
- Adjustments - Bills Payable Dishonoured
- Adjustments - Deferred Expenses
- Adjustments - Capital Receipts Included in Revenue Receipts and Vice-versa
- Adjustments - Commission to Working Partner Managers on the Basis of Gross Profit Net Profit, Sales, Etc
- Partnership Final Accounts
Reconstitution of Partnership
- Meaning of Reconstitution
- Different Ways of Reconstitution
- Admission of a Partner
- Need of Admission of a Partner
- Capital Brought by New Partner
- Admission of a Partner - Sacrifice Ratio and New Ratio
- Concept of Goodwill
- Admission of a Partner - Adjustment of Accumulated Profits and Losses
- Admission of a Partner - Revaluation of Assets and Liabilities
- Admission of a Partner - Adjustment of Capitals
- Admission of a Partner - Treatment of Goodwill
- Meaning of Retirement or Death of a Partner
- Needs of Retirement Or Death of a Partner
- Retirement Or Death of a Partner - Treatment of Goodwill
- Retirement or Death of a Partner - Adjustment of Accumulated Profits and Losses
- Retirement or Death of a Partner - Revaluation of Assets and Liabilities
- Retirement Or Death of a Partner - Adjustment of Capitals
- Retirement Or Death of a Partner - New Ratio
- Retirement Or Death of a Partner - Gain Ratio
- Retirement Or Death of a Partner - Amount Due to Retiring Parter
- Reconstitution of Partnership
Reconstitution of Partnership (Admission of Partner)
- Reconstitution of Partnership
- Admission of a Partner
- Concept of Goodwill
- Admission of a Partner - Revaluation of Assets and Liabilities
Reconstitution of Partnership (Retirement of Partner)
- Reconstitution of Partnership (Retirement of Partner)
- Treatment of Goodwill
- Transfer of Reserve Fund Or General Reserve/Accumulated Profit Or Loss
- Accounting for Revaluation of Assets and Reassessment of Liabilities
- Retirement Or Death of a Partner - Adjustment of Capitals
- Total Payable Amount to Retiring Partner
Dissolution of Partnership Firm
Accounts of “Not for Profit” concerns
- Not for Profit Concerns
- Features of "Not for Profit" Concerns.
- Receipts and Payments Account
- Feature of Receipts and Payments Account
- Effects of Adjustments-Outstanding Expenses
- Additional Information - Prepaid Expenses of the Current and Previous Year
- Effects of Adjustments-Accrued Income
- Effects of Adjustments-Income Received in Advance
- Additional Information - Subscription Received in Advance
- Additional Information - Subscription Outstanding of the Current and Previous Year
- Effects of Adjustments-Depreciation
- Additional Information - Capitalisation of Entrance Fees
- Additional Information - Creation of Special Funds Out of Donations
- Additional Information - Stock of Stationery
- Additional Information - Opening Balances of Assets and Liabilities
- Preparation of Income and Expenditure Account and Closing Balance Sheet
- Accounts of “Not for Profit” Concerns
Reconstitution of Partnership (Death of Partner)
- Reconstitution of Partnership (Death of Partner)
Single Entry System
- Meaning of Single Entry
- Difference Between Single Entry System and Double Entry System
- Preparation of Statements for Single Entry System
- Additional Information - Additional Capital
- Effects of Adjustments-Drawings
- Additional Information - Depreciation on Fixed Asset
- Effects of Adjustments-Bad and Doubtful Debts
- Additional Information - Undervaluation of Assets and Liabilities
- Additional Information - Overvaluation of Assets and Liabilities
- Adjustments - Interest on Capital, Drawings and Loans
- Additional Information - Partners Salary
- Effects of Adjustments-Outstanding Expenses
- Effects of Adjustments-Prepaid Expenses
- Illustrations of Single Entry System
- Single Entry System Examples and Solutions
Dissolution of Partnership Firm
- Dissolution of Partnership Firm
- Accounting Procedure of Dissolution of Partnership Firm
Bill of Exchange (Only Trade Bill)
- Introduction of Bill of Exchange (Only Trade Bill)
- Necessity of Bill of Exchange (Only Trade Bill)
- Draft Or Format of Bills
- Parties to the Bill of Exchange
- Acceptance of Bill
- Important Terms of Bills of Exchange - Term of Bill
- Important Terms of Bills of Exchange - Days of Grace
- Important Terms of Bills of Exchange - Date of Maturity
- Important Terms of Bills of Exchange - Due Date
- Honouring of Bill
- Dishonour of Bill
- Important Terms of Bills of Exchange - Noting of Bill
- Protesting of Bill
- Basic Term of Bills of Exchange - Notary Public
- Basic Term of Bills of Exchange - Noting Charges
- Accounting Treatment of Bill by the Drawer Or Holder and Drawee
- Accounting Treatment - Retaining the Bill Till Due Date. Honour Or Dishonour, Insolvency of the Drawee Or Acceptor
- Accounting Treatment - Endorsement of the Bill, Honour/ Dishonour and Also Insolvency of Acceptor
- Accounting Treatment - Discounting the Bill with the Bank Honour/Dishonour and Insolvency
- Accounting Treatment of Bill - Sending the Bill to the Bank for Collection, Honour Or Dishonour and Insolvency
- Accounting Treatment of Bill - Making Part Payment of Basic Amount, Interest and Noting Charges and Drawing of New Bill
- Accounting Treatment of Bill - Honour Or Dishonour of New Bill
- Accounting Treatment of Bill - Insolvency of the Acceptor and Settlement of His Account
- Accounting Treatment of Bill - Retirement of Bill
- Accounting Treatment of Bill - Journal Entries and Ledger
- Bill of Exchange Examples and Solutions
Bills of Exchange
- Bills of Exchange
- Parties to a Bill Exchange
- Parties to a Promissory Note
- Contents of Format of Bill of Exchange
- Honour and Dishonour of Bill of Exchange
Company Accounts
- Share and Share Capital
- Nature and Types of Share and Share Capital
- Accounting for Share Capital
- Share Capital - Issue and Allotment of Equity Shares
- Private Placement of Shares
- Public Subscription of Shares
- Over Subscription of Shares
- Under Subscription of Shares
- Issue at Par and Premium and at Discount
- Calls in Advance and Arrears
- Issue of Shares for Consideration Other than Cash
- Accounting Treatment of Forfeiture and Re-issue of Share
- Disclosure of Share Capital in Company’s Balance Sheet (Horizontal Form)
- Meaning and Concept of Debentures
- Issue of Debentures at Par at Premium and at Discount
- Issue of Debentures for Consideration Other than Cash
- Interest on Debentures
Company Accounts - Issue of Shares
- Share and Share Capital
- Accounting for Share Capital
- Forfeiture of Shares
Analysis of Financial Statements
- Concept of Financial Statement Analysis
- Comparative Statements
- Common Size Statements
- Cash Flow Analysis
- Ratio Analysis and its Types
- Concept of Accounting Ratios
- Classification of Ratios
- Introductions to Current Ratio
- Introductions to Liquid Ratio
- Introductions to Gross Profit Ratio
- Operating Profit Ratio
- Return on Investment (ROI)
- ROCE
Analysis of Financial Statements
- Concept of Financial Statement Analysis
- Tools for Financial Statement Analysis
- Concept of Accounting Ratios
Computer in Accounting
- Computerized Accounting System (Cas)
- Sourcing of Accounting Software
- Legal Vs. Pirated Accounting Software
Shaalaa.com | Analysis of Financial Statements Part 1 (Comparative Statements)
Related QuestionsVIEW ALL [45]
Prepare Comparative Statement of Profit and Loss from the following Statement of Profit and Loss:
|
Particulars |
Note No. |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
|
I. Income |
|||
|
Revenue from Operations (Net Sales) |
3,00,000 |
2,50,000 |
|
|
II. Expenses |
|||
|
Cost of Materials Consumed |
1,20,000 |
1,00,000 |
|
|
Changes in Inventories of WIP and Finished Goods |
(2,000) |
5,000 |
|
|
Employees Benefits Expenses (Wages) |
30,000 |
25,000 |
|
|
Other Expenses |
22,000 |
20,000 |
|
|
Total |
1,70,000 |
1,50,000 |
|
|
III. Net Profit (I-II) |
1,30,000 |
1,00,000 |
From the following information, prepare Comparative Statement of Profit and Loss showing increase, decrease and percentage:
| Particulars | 31st March, 2019 |
31st March, 2018 |
||
| Cost of Materials Consumed | ₹ 13,44,000 |
₹ 6,00,000 |
||
| Revenue from Operations (% of Materials Consumed) | 125% |
200% |
||
| Other Expenses (% of Operating Revenue) | 10% | 10% | ||
| Tax Rate | 50% | 50% | ||
Following is the Statement of Profit and Loss of Moon India Ltd for the year ended 31st March 2015.
| Particulars | Note No. | 31-3-2015 (Rs.) | 31-3-2014 (Rs.) |
|
Revenue from operations Other Income Employee benefit – expenses Other expenses Tax Rate |
50,00,000 2,00,000 60% of the total revenue 10% of employee benefit expenses 50% |
40,00,000 10,00,000 50% of the total revenue 20% of employee benefit expenses 40% |
The motto of Moon India Ltd. is to produce and distribute green energy in the backward areas of India. It has also taken up a project of giving vocational training to the girls belonging to the backward areas of Rajasthan.
You are required to prepare a comparative statement of Profit and Loss of Moon India Ltd. from the given statement of Profit and Loss and also identify any two values that the company wishes to convey to the society.
The motto of 'Pharma Ltd', a company engaged in the manufacturing of low-cost generic medicines, is 'Healthy India'. Its management and employees are hardworking, honest and motivated. The net profit of the company doubled during the year ended 31-3-2014. Encouraged by its performance, the company decided to pay the bonus to all employees at double the rate than last year. Following is the Comparative Statement of Profit and Loss of the company for the years ended 31-3-2013 and 31-3-2014.
| Pharma Ltd Comparative Statement of Profit and Loss |
|||||
| Particulars | Note No. |
2012-13 Rs |
2013-14 Rs |
Absolute Rs |
% Change |
|
Revenue from operations Less Employee benefit expenses Profit before tax Tax Rate 25% Profit after tax |
20,00,000 12,00,000 8,00,000 2,00,000 6,00,000 |
30,00,000 14,00,000 16,00,000 4,00,000 12,00,000 |
10,00,000 2,00,000 8,00,000 2,00,000 6,00,000 |
50 16-87 100 100 100 |
|
1) Calculate Net Profit Ratio for the years ending 31st March, 2013 and 2014
2) Identify any two values which ‘Pharma Ltd’ is trying to propagate
From the following information, prepare comparative statement of Profit & Loss.
| Particulars | Note No. | 2022-23 (₹) | 2021-22 (₹) |
| Revenue from operations | 10,00,000 | 8,00,000 | |
| Other Income | 2,20,000 | 1,50,000 | |
| Cost of materials consumed | 4,00,000 | 3,00,000 | |
| Change in inventories of finished goods and work in progress | 2,00,000 | 1,00,000 | |
| Other Expenses (% of cost of Revenue from Operations) | 15% | 10% | |
| Tax Rate | 30% | 30% |
Balance Sheet of Blue Bell Ltd. as at 31st March, 2019 is given below:
BALANCE SHEET
as at 31st March, 2019
|
Particulars |
Note No. |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
|
I. EQUITY AND LIABILITIES 1. Shareholder's Funds |
|||
|
(a) Share Capital |
3,26,000 |
2,44,000 |
|
|
(b) Reserves and Surplus |
|
1,00,000 |
1,00,000 |
|
2. Non-Current Liabilities |
|||
|
Long-term Borrowings |
|
6,96,000 |
4,38,000 |
|
3. Current Liabilities |
|||
|
Trade Payables |
|
2,98,000 |
78,000 |
| Total |
14,20,000 |
8,60,000 |
|
|
II. ASSETS |
|||
|
1. Non-Current Assets |
|||
|
(a) Fixed Assets |
5,68,000 | 4,30,000 | |
|
(b) Non-Current Investments |
|
6,000 |
4,000 |
|
2. Current Assets |
|||
|
(a) Trade Receivables |
|
6,46,000 |
3,76,000 |
|
(b) Cash and Cash Equivalents |
2,00,000 |
50,000 |
|
|
Total |
14,20,000 |
8,60,000 |
Prepare Comparative Balance Sheet showing percentage changes from 2018 to 2019.
The motto of 'Nav Hind Pharma Limited', a company engaged in the manufacturing and distribution of Ayurvedic medicines is 'Healthy India'. Its management and employees are hardworking, honest and motivated. The net profit of the company doubled during the year ended 31.3.2014. Encouraged by its performance, the company decided to pay one month's extra salary to all its employees. Following is the Comparative Statement of Profit and Loss of the company for the years ended 31.3.2013 and 31.3.2014:
| Nav Hind Pharma Ltd Comparative Statement of Profit and Loss |
|||||
| Particulars | Note No |
2012-13 Rs |
2013-14 Rs |
Absolute Rs |
% Change |
| Revenue from operations | 40,00,000 | 60,00,000 | 20,00,000 | 5.0 | |
| Less : Employee benefit expenses | 24,00,000 | 28,00,000 | 4,00,000 | 16.67 | |
| Profit before tax | 16,00,000 | 32,00,000 | 16,00,000 | 100 | |
| Tax Rate 50% | 8,00,000 | 16,00,000 | 8,00,000 | 100 | |
| Profit after tax | 8,00,000 | 16,00,000 | 8,00,000 | 100 | |
1) Calculate New Profit Ratio for the years ending 31.3.2013 and 31.3.2014
2) Identify any two value which 'Nav Hind Pharma Limited' is trying to communicate
