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Revision Worksheet 1st Volume 3

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28 views3 pages

Revision Worksheet 1st Volume 3

Uploaded by

arnavgoel227
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Worksheet volume 3

Ch:- 1,2,5
For Grade 12th Accountancy

Section A
Q1:- When an analyst analysis the financial statements of an enterprise over a number of years, the
analysis is called ______________analysis.
a. Static
b. External
c. Horizontal
d. Vertical
Q2:- Horizontal Analysis is:
a. Cross Section Analysis
b. Profitability Analysis
c. Time Series Analysis
d. Vertical analysis
Q3:- Balance sheet and statement of profit and loss are together commonly referred to as:
a. All of these
b. Receipts and Payments Account
c. Common Size Statements
d. Financial Statements
Q4:- Which of the following is not an item under Current Assets?
a. Cash and Cash Equivalents
b. Inventories
c. Capital Advances
d. Short-term Loans and Advances
Q5:- Which of the following is not a limitation of ‘Analysis of Financial Statements’ ?
a. It is just a study of the reports of the company.
b. It does not consider price level changes.
c. It ascertains the relative importance of different components of the financial position of the firm.
d. It may be misleading without the knowledge of the changes in accounting procedures followed by a firm

Section B
Q1:- It is the process of identifying the financial strengths and weaknesses of the firm by properly establishing
relationships between the various items of the Balance Sheet and the Statement of Profit and Loss. Identify the
process and state two objectives of the process identified.
Q2:- Classify the following items under major heads and sub-heads (if any) in the Balance Sheet of the company as
per Schedule III, Part I of the Companies Act, 2013
i. Copyrights
ii. Interest Accrued on investments
iii. Long-term investment in shares
Q3:- Find the heads and sub-heads under which the following items will appear in the balance sheet of a company as
per Schedule III, Part I of Companies Act, 2013?
i. Furniture and Fixture
ii. Advance paid to contractor for building under construction
iii. Accrued Income
iv. Loans repayable on demand to Bank
v. Employees earned leaves payable on retirement
vi. Employees earned leaves encashable
Q4:- From the following information prepare Comparative Balance Sheet of X Ltd.:
31-3-2023 31-3-2022
Particulars Amount Amount
₹ ₹
Share Capital 25,00,000 25,00,000
31-3-2023 31-3-2022
Particulars Amount Amount
₹ ₹
Reserves and Surplus 6,00,000 10,00,000
Long-term Borrowings 16,00,000 15,00,000
Current Liabilities 5,00,000 4,50,000
Fixed Assets 35,00,000 25,00,000
Investments (Non-Current) 10,50,000 15,00,000
Current Assets 6,50,000 14,50,000

Q5:- Prepare Comparative Statement of Profit and Loss from the following :
31st
31st
March
Particulars March
2013(R
2012(Rs.)
s.)
12,50,0
Revenue from Operations 10,00,000
00
6,50,00
Cost of Materials Consumed 5,00,000
0
Other Expenses 60,000 50,000

Interest on Investments @ RS. 30,000 and Taxes Payable @ 50%.


Q6:- Complete the Comparative Statement of Profit and Loss:
Absolute %
Particulars 2022-23 2023-24
change change
Revenue from Operation 16,00,00 20,00,000 ? ?
Less: Employees Benefit
8,00,000 ? ? 25%
Expenses
Less: Other Expenses 2,00,000 ? (1,00,000) ?
Profit before tax 6,00,000 ? ? 50%
Tax @30% ? ? 90,000 ?
Profit after tax 4,20,000 ? 2,10,000 ?

Q7:- With the help of the following information obtained from the books of Raj Silk Mills, prepare Comparative
Statement of Profit and Loss for the year ended 31st March 2016:
Particulars 31st March 2016 31st March 2015

300% of the Cost 200% of the Cost


Revenue from
of Materials of Materials
Operations
Consumed Consumed

Expenses :

Cost of Materials
₹ 12,00,000 ₹ 10,00,000
Consumed

Other Expenses 20% of the Cost 10% of the Cost


of Materials of Materials
Consumed Consumed

Tax 50% 50%

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