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Question
Following is the Balance Sheet of Radha Ltd. as at 31st March, 2019:
|
Particulars |
Note No. |
31st March, 2019, (₹) |
31st March, 2018, (₹) |
|
I. EQUITY AND LIABILITIES 1. Shareholders' Funds |
|||
|
(a) Share Capital |
15,00,000 |
10,00,000 |
|
|
(b) Reserves and Surplus |
10,00,000 | 10,00,000 | |
|
2. Non-Current Liabilities |
|||
|
Long-term Borrowings |
|
8,00,000 |
2,00,000 |
|
3. Current Liabilities |
|||
|
(a) Trade Payables |
|
5,00,000 |
3,00,000 |
|
Total |
38,00,000 |
25,00,000 |
|
|
II. ASSETS |
|||
|
1. Non-Current Assets |
|||
|
Fixed Assets: |
|||
|
(i) Tangible Assets |
|
25,00,000 |
15,00,000 |
|
(ii) Intangible Assets |
5,00,000 | 5,00,000 | |
|
2. Current Assets |
|||
|
(a) Trade Receivables |
|
6,00,000 |
3,50,000 |
|
(b) Cash and Cash Equivalents |
2,00,000 |
1,50,000 |
|
|
Total |
38,00,000 |
25,00,000 |
You are required to prepare Comparative Balance Sheet on the basis of the information given in the above Balance Sheet.
Solution
|
Particulars |
2018 (₹) |
2019 (₹) |
Absolute Change (₹) |
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 |
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|||||
| Particulars | Note No |
2012-13 Rs |
2013-14 Rs |
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% Change |
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From the following Statement of profit and loss of Ajanta Ltd, year ended 31st March 2013, prepare a comparative statement of Profit and Loss :
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2011-12 | 2010-11 |
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Comparative income statement
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Prepare Comparative Income Statement from the following information:
| Particulars | 2016-17 Rs. |
2015-16 Rs. |
| Freight Outward | 20,000 | 10,000 |
| Wages (office) | 10,000 | 5,000 |
| Manufacturing Expenses | 50,000 | 20,000 |
| Stock adjustment | (60,000) | 30,000 |
| Cash purchases | 80,000 | 60,000 |
| Credit purchases | 60,000 | 20,000 |
| Returns inward | 8,000 | 4,000 |
| Gross profit | (30,000) | 90,000 |
| Carriage outward | 20,000 | 10,000 |
| Machinery | 3,00,000 | 2,00,000 |
| Charge 10% depreciation on machinery | 10,000 | 5,000 |
| Interest on short-term loans | 20,000 | 20,000 |
| 10% debentures | 20,000 | 10,000 |
| Profit on sale of furniture | 20,000 | 10,000 |
| Loss on sale of office car | 90,000 | 60,000 |
| Tax rate | 40% | 50% |
Prepare Comparative Income Statement from the following information:
| Particulars | 2015-16 Rs. |
2016-17 Rs. |
| Manufacturing expenses | 35,000 | 80,000 |
| Opening stock | 30,000 | 60% of closing stock |
| Sales | 9,60,000 | 4,50,000 |
| Returns outward | 4,000 (out of credit purchase) | 6,000 (out of cash purchase) |
| Closing stock | 150% of opening stock | 1,00,000 |
| Credit purchases | 1,50,000 | 150% of cash purchase |
| Cash purchases | 80% of credit purchases | 40,000 |
| Carriage outward | 10,000 | 30,000 |
| Building | 1,00,000 | 2,00,000 |
| Depreciation on building | 20% | 10% |
| Interest on bank overdraft | 5,000 | - |
| 10% debentures | 2,00,000 | 20,00,000 |
| Profit on sale of copyright | 10,000 | 20,000 |
| Loss on sale of personal car | 10,000 | 20,000 |
| Other operating expenses | 20,000 | 10,000 |
| Tax rate | 50% | 40% |
From the Following Balance Sheet of Royal Industries Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:
|
Particulars |
Note No. |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
| I. EQUITY AND LIABILITIES
1. Shareholder's Funds |
|||
|
(a) Share Capital |
|||
|
Equity Share Capital |
10,00,000 |
5,00,000 |
|
|
(b) Reserves and Surplus |
1,00,000 |
1,00,000 |
|
|
2. Non-Current Liabilities |
|||
|
Long-term Borrowings |
2,00,000 |
3,00,000 |
|
|
3. Current Liabilities |
|||
|
Trade Payables |
2,00,000 |
1,00,000 |
|
|
Total |
15,00,000 |
10,00,000 |
|
| II. ASSETS | |||
|
1. Non-Current Assets |
|||
|
(a) Fixed Assets: |
|||
|
(i) Tangible Assets |
8,00,000 |
4,00,000 |
|
|
(ii) Intangible Assets |
2,00,000 |
2,00,000 |
|
|
(b) Non-Current Investments |
2,00,000 |
2,00,000 |
|
|
2. Current Assets |
|||
|
(a) Inventories |
2,50,000 |
1,50,000 |
|
|
(b) Cash and Cash Equivalents |
50,000 |
50,000 |
|
|
Total |
15,00,000 |
10,00,000 |
From the following Balance Sheet of Depth Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:
|
Particulars |
Note No. |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
|
I. EQUITY AND LIABILITIES |
|||
|
1. Shareholders' Funds |
|||
|
(a) Share Capital |
2,80,000 |
1,80,000 |
|
|
(b) Reserves and Surplus |
1,00,000 |
1,00,000 |
|
|
2. Non-Current Liabilities |
|||
|
Long-term Borrowings |
80,000 |
20,000 |
|
|
3. Current Liabilities |
|||
|
Trade Payables |
50,000 |
30,000 |
|
|
Total |
5,10,000 |
3,30,000 |
|
|
II. ASSETS |
|||
|
1. Non-Current Assets |
|||
|
(a) Fixed Assets: |
|||
|
(i) Tangible Assets |
2,80,000 |
1,80,000 |
|
|
(ii) Intangible Assets |
50,000 |
30,000 |
|
|
(b) Non-Current Investments |
80,000 |
50,000 |
|
|
2. Current Assets |
|||
|
(a) Inventories |
70,000 |
30,000 |
|
|
(b) Cash and Cash Equivalents |
30,000 |
40,000 |
|
|
Total |
5,10,000 |
3,30,000 |
From the following Balance Sheet of H.P. Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:
|
Particulars |
Note No. |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
|
I. EQUITY AND LIABILITIES |
|||
|
1. Shareholders' Funds |
|||
|
(a) Share Capital: |
|||
|
(i) Equity Share Capital |
12,50,000 |
5,00,000 |
|
|
(ii) Preference Share Capital |
2,50,000 |
2,50,000 |
|
|
(b) Reserves and Surplus |
3,00,000 |
4,50,000 |
|
|
2. Non-Current Liabilities |
|||
|
Long-term Borrowings: 12% Debentures |
9,50,000 |
5,50,000 |
|
|
Loan from Directors |
2,50,000 |
2,00,000 |
|
|
3. Current Liabilities |
|||
|
(a)Short-term Borrowings |
3,50,000 |
1,75,000 |
|
|
(b) Trade Payables |
2,00,000 |
1,00,000 |
|
|
(c) Short-term Provisions |
50,000 |
25,000 |
|
|
Total |
36,00,000 |
22,50,000 |
|
|
II. ASSETS |
|||
|
1. Non-Current Assets |
|||
|
(a) Fixed Assets (Tangible) |
22,50,000 |
15,00,000 |
|
|
2. Current Assets |
|||
|
(a) Inventories |
4,50,000 |
2,50,000 |
|
|
(b) Trade Receivables |
8,00,000 |
4,50,000 |
|
|
(c) Cash and Cash Equivalents |
1,00,000 |
50,000 |
|
|
Total |
36,00,000 |
22,50,000 |
From the following Information, prepare Comparative Statement of Profit and Loss:
|
Particulars |
31st March, 2019 |
31st March, 2018 |
||
|
Revenue from Operations |
₹ 30,00,000 |
₹ 20,00,000 |
||
|
Other Income (% of Revenue from Operations) |
12% |
20% |
||
| Expenses (% of Operating Revenue) |
70% |
60% |
||
| Tax Rate |
40% |
40% |
||
From the following Statement of Profit and Loss, prepare Comparative Statement of Profit and Loss:
|
Particulars |
Note No. |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
| I. Income | |||
|
Revenue from Operations (Net Sales) |
50,00,000 |
40,00,000 | |
| II. Expenses |
|
||
|
Purchases of Stock-in-Trade |
34,00,000 | 28,50,000 | |
|
Change in Inventories of Stock-in-Trade |
1 | 1,00,000 | 1,50,000 |
|
Employees Benefits Expenses |
1,00,000 | 1,00,000 | |
|
Other Expenses |
2 |
2,00,000 |
1,50,000 |
|
Total |
38,00,000 |
32,50,000 | |
| III. Net Profit (I-II) | 12,00,000 | 7,50,000 |
Notes to Accounts
|
Particulars |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
| I. Change in Inventory of stock-in-Trade | ||
|
Opening Inventory |
2,00,000 |
3,50,000 |
|
Less: Closing Inventory |
1,00,000 |
2,00,000 |
|
1,00,000 |
1,50,000 | |
| 2. Other Expenses | ||
|
Administrative Expenses |
50,000 |
50,000 |
|
Selling and Distribution Expenses |
1,50,000 |
1,00,000 |
|
2,00,000 |
1,50,000 |
Prepare Comparative Statement of Profit and Loss from the following information:
| Particulars | 31st March, 2019 |
31st March, 2018 | ||
| Revenue from Operations | ₹ 37,50,000 |
₹ 25,00,000 |
||
| Other Income | ₹ 4,50,000 |
₹ 5,00,000 |
||
| Cost of Materials Consumed | ₹ 22,50,000 | ₹ 12,50,000 | ||
| Other Expenses | ₹ 3,75,000 | ₹ 2,50,000 | ||
| Tax Rate | 50% | 50% | ||
From the following Balance Sheets of Vinayak Ltd. as at 31st March, 2019, prepare a comparative Balance Sheet.
Vinayak Ltd.
Balance Sheet as at 31st March, 2019
| Particulars |
Note No. |
31-03-19(₹) |
31-03-18(₹) |
|
| Equity and Liabilities |
|
|
|
|
| (1) | Shareholders Funds |
|
|
|
| (a) Share capital |
|
21,00,000 |
20,00,000 |
|
| (b) Reserves and Surplus |
|
2,30,000 |
2,00,000 |
|
| (2) | Non-current liabilities |
|
|
|
| Long term borrowing |
|
5,60,000 |
2,00,000 |
|
| (3) | Current liabilities |
|
|
|
| Trade payables |
|
2,80,000 |
1,00,000 |
|
| Total |
|
31,70,000 |
25,00,000 |
|
| Assets |
|
|
|
|
| (1) | Non-current Assets |
|
|
|
| Fixed Assets |
|
|
|
|
| (i) Tangible assets |
|
21,00,000 |
20,00,000 |
|
| (ii) Intangible assets |
|
3,00,000 |
2,00,000 |
|
| (2) | Current Assets |
|
|
|
| (a) Inventories |
|
5,60,000 |
2,00,000 |
|
| (b) cash and cash equivalents |
|
2,10,000 |
1,00,000 |
|
| Total |
|
31,70,000 |
25,00,000 |
Prepare a comparative statement of Profit and Loss from the following information extracted from the statement of Profit and Loss for the year ended 31st March, 2017 and 2018.
| Particulars | 2017-18 | 2016-17 |
| Revenue from operations | (₹) 12,00,000 | (₹)10,00,000 |
| Other income (% of Revenue from operations) | 25% | 25% |
| Employee benefit expenses(% of Total Revenue) | 40% | 30% |
| Tax Rate | 40% | 40% |
You are required to prepare a Comparative Statement of Profit & Loss from the following particulars of Nishant Ltd.
| Particulars | No. | 31.03.2021 (₹) |
31.03.2020 |
| Revenue from operations | 4,00,000 | 3,00,000 | |
| Cost of raw materials consumed | 2,00,000 | 1,50,000 | |
| Changes in inventories of raw materials |
25,000 | (12,500) |
Comparative statement are also known as?
Which of the following cannot be identified with the help of Comparative Statement of Profit and Loss?
From the information extracted from the Statement of Profit and Loss prepare a Comparative Statement of Profit and Loss for the year ended 31st March, 2021:
| Particulars | 2020 - 21 (₹) | 2019 - 20 (₹) |
| Revenue from operations | 7,20,000 | 4,00,000 |
| Expenses | 5,00,000 | 2,00,000 |
| Tax Rate @ 50% |
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% |
