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Page No 3.30:

Question 1:

Answer:

In the books of D Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Share Capital

3,00,000

3,50,000

50,000

16.67

Shareholders’ Fund

3,00,000

3,50,000

50,000

16.67

2. Non-Current Liabilities

 

 

 

 

a. Long-term Borrowings

2,00,000

1,00,000

(1,00,000)

(50.00)

3. Current Liabilities

 

 

 

 

a. Trade Payables

1,00,000

1,50,000

50,000

50.00

Total

6,00,000

6,00,000

 

 

 

 

 

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

3,00,000

4,00,000

1,00,000

33.33

2. Current Assets

 

 

 

 

a. Trade Receivables

3,00,000

2,00,000

(1,00,000)

(33.33)

Total

6,00,000

6,00,000

 

 

 

 

 

 



Page No 3.31:

Question 2:

In the books of D Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Share Capital

3,00,000

3,50,000

50,000

16.67

Shareholders’ Fund

3,00,000

3,50,000

50,000

16.67

2. Non-Current Liabilities

 

 

 

 

a. Long-term Borrowings

2,00,000

1,00,000

(1,00,000)

(50.00)

3. Current Liabilities

 

 

 

 

a. Trade Payables

1,00,000

1,50,000

50,000

50.00

Total

6,00,000

6,00,000

 

 

 

 

 

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

3,00,000

4,00,000

1,00,000

33.33

2. Current Assets

 

 

 

 

a. Trade Receivables

3,00,000

2,00,000

(1,00,000)

(33.33)

Total

6,00,000

6,00,000

 

 

 

 

 

 

Answer:

In the books of Radha Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

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

 

 

 

 

 

 

Page No 3.31:

Question 3:

In the books of Radha Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

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

 

 

 

 

 

 

Answer:

In the books of Deepankur Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Equity Share Capital

7,50,000

9,00,000

1,50,000 20.00

b. Reserve and Surplus

2,85,000

3,30,000

45,000 15.79

Shareholders’ Fund

10,35,000

12,30,000

1,95,000 18.84

2. Non-Current Liabilities

 

 

   

a. Long-term Borrowings

4,50,000

3,00,000

(1,50,000) (33.33)
     3. Current Liabilities        
          a. Short-Term Borrowings 1,70,000 1,40,000 (30,000) (17.65)
          b. Trade Payables 1,50,000 2,00,000 50,000 33.33
          c. Other Current Liabilities 45,000 60,000 15,000 33.33

       d. Short-Term Provisions

10,000

20,000

10,000

100.00

  3,75,000 4,20,000 45,000 12.00

Total

18,60,000 19,50,000 90,000 4.84

 

 

 

 

 

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets

10,45,000

9,55,000

(90,000)

8.61

          b. Non-Current Investments 2,00,000 2,00,000 - -
  12,45,000 11,55,000 (90,000) (7.23)

2. Current Assets

       
          a. Inventories 2,00,000 2,50,000 50,000 25.00
          b.Trade Receivables 2,25,000 2,50,000 25,000 11.11
          c.Cash and Cash Equivalents 1,10,000 1,95,000 85,000 77.27
          d.Other Current Assets 80,000 1,00,000 20,000 25.00
  6,15,000 7,95,000 1,80,000 29.27

Total

18,60,000 19,50,000 90,000 4.84

 

 

 

 

 

 



Page No 3.32:

Question 4:

In the books of Deepankur Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Equity Share Capital

7,50,000

9,00,000

1,50,000 20.00

b. Reserve and Surplus

2,85,000

3,30,000

45,000 15.79

Shareholders’ Fund

10,35,000

12,30,000

1,95,000 18.84

2. Non-Current Liabilities

 

 

   

a. Long-term Borrowings

4,50,000

3,00,000

(1,50,000) (33.33)
     3. Current Liabilities        
          a. Short-Term Borrowings 1,70,000 1,40,000 (30,000) (17.65)
          b. Trade Payables 1,50,000 2,00,000 50,000 33.33
          c. Other Current Liabilities 45,000 60,000 15,000 33.33

       d. Short-Term Provisions

10,000

20,000

10,000

100.00

  3,75,000 4,20,000 45,000 12.00

Total

18,60,000 19,50,000 90,000 4.84

 

 

 

 

 

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets

10,45,000

9,55,000

(90,000)

8.61

          b. Non-Current Investments 2,00,000 2,00,000 - -
  12,45,000 11,55,000 (90,000) (7.23)

2. Current Assets

       
          a. Inventories 2,00,000 2,50,000 50,000 25.00
          b.Trade Receivables 2,25,000 2,50,000 25,000 11.11
          c.Cash and Cash Equivalents 1,10,000 1,95,000 85,000 77.27
          d.Other Current Assets 80,000 1,00,000 20,000 25.00
  6,15,000 7,95,000 1,80,000 29.27

Total

18,60,000 19,50,000 90,000 4.84

 

 

 

 

 

 

Answer:

In the books of Blue Bell Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014
(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Equity Share Capital

2,44,000

3,26,000

82,000

33.61

       b. Reserves and Surplus 1,00,000 1,00,000 - -

Shareholder's Funds

 

3,44,000

4,26,000

82,000

23.84

2. Non-Current Liabilities        

a. Long-term Borrowings

4,38,000

6,96,000

2,58,000

58.90

3. Current Liabilities

78,000

2,98,000

2,20,000

282.05

Total

8,60,000

14,20,000

5,60,000

65.12

 

 

 

 

 

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

4,30,000

5,68,000

1,38,000

32.09

b. Non-Current Investments

4,000

6,000

2,000

50.00

  4,34,000 5,74,000 1,40,000 32.26

2. Current Assets

 

 

 

 

          a. Trade Receivables 3,76,000 6,46,000 2,70,000 71.81
          b. Cash and Cash Equivalents 50,000 2,00,000 1,50,000 300.00
  4,26,000 8,46,000 4,20,000 98.59

Total

8,60,000

14,20,000

5,60,000

65.12

 

 

 

 

 

 

Page No 3.32:

Question 5:

In the books of Blue Bell Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014
(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Equity Share Capital

2,44,000

3,26,000

82,000

33.61

       b. Reserves and Surplus 1,00,000 1,00,000 - -

Shareholder's Funds

 

3,44,000

4,26,000

82,000

23.84

2. Non-Current Liabilities        

a. Long-term Borrowings

4,38,000

6,96,000

2,58,000

58.90

3. Current Liabilities

78,000

2,98,000

2,20,000

282.05

Total

8,60,000

14,20,000

5,60,000

65.12

 

 

 

 

 

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

4,30,000

5,68,000

1,38,000

32.09

b. Non-Current Investments

4,000

6,000

2,000

50.00

  4,34,000 5,74,000 1,40,000 32.26

2. Current Assets

 

 

 

 

          a. Trade Receivables 3,76,000 6,46,000 2,70,000 71.81
          b. Cash and Cash Equivalents 50,000 2,00,000 1,50,000 300.00
  4,26,000 8,46,000 4,20,000 98.59

Total

8,60,000

14,20,000

5,60,000

65.12

 

 

 

 

 

 

Answer:

In the books of Wye Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Comments

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Equity Share Capital

4,00,000

4,00,000

-

No Change

        b. Preference Share Capital 1,00,000 1,00,000 - No Change

ii. Reserve and Surplus

1,10,000

1,20,000

10,000

Increase

Shareholders’ Fund

6,10,000

6,20,000

10,000

 

2. Non-Current Liabilities

 

 

 

 

a. Long-term Borrowings

 

 

 

 

Secured

4,50,000

3,50,000

1,00,000

Decrease

Unsecured

-

1,00,000

1,00,000

Increase

          b. Long-Term Provision 1,00,000 50,000 50,000 Decrease

3. Current Liabilities

 

 

 

 

         a. Trade Payables 3,30,000 5,30,000 2,00,000 Increase

b. Short-Term Provisions

50,000

50,000

-

No Change

Total

15,40,000

17,00,000

1,60,000

 

 

 

 

 

 

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

10,40,000

9,90,000

50,000

Decrease

          b. Non-Current Investments 1,00,000 1,00,000 - No Change

2. Current Assets

 

 

 

 

b. Trade Receivables

3,00,000

5,00,000

2,00,000

Increase

c. Cash and Cash Equivalents

1,00,000

1,10,000

10,000

Increase

Total

15,40,000

17,00,000

1,60,000

 

 

 

 

 

 

 



Page No 3.33:

Question 6:

In the books of Wye Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Comments

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Equity Share Capital

4,00,000

4,00,000

-

No Change

        b. Preference Share Capital 1,00,000 1,00,000 - No Change

ii. Reserve and Surplus

1,10,000

1,20,000

10,000

Increase

Shareholders’ Fund

6,10,000

6,20,000

10,000

 

2. Non-Current Liabilities

 

 

 

 

a. Long-term Borrowings

 

 

 

 

Secured

4,50,000

3,50,000

1,00,000

Decrease

Unsecured

-

1,00,000

1,00,000

Increase

          b. Long-Term Provision 1,00,000 50,000 50,000 Decrease

3. Current Liabilities

 

 

 

 

         a. Trade Payables 3,30,000 5,30,000 2,00,000 Increase

b. Short-Term Provisions

50,000

50,000

-

No Change

Total

15,40,000

17,00,000

1,60,000

 

 

 

 

 

 

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

10,40,000

9,90,000

50,000

Decrease

          b. Non-Current Investments 1,00,000 1,00,000 - No Change

2. Current Assets

 

 

 

 

b. Trade Receivables

3,00,000

5,00,000

2,00,000

Increase

c. Cash and Cash Equivalents

1,00,000

1,10,000

10,000

Increase

Total

15,40,000

17,00,000

1,60,000

 

 

 

 

 

 

 

Answer:

In the books of Royal Industries Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Equity Share Capital

5,00,000

10,00,000

5,00,000

100.00

b. Reserve and Surplus

1,00,000

1,00,000

–

–

Shareholders’ Fund

6,00,000

11,00,000

5,00,000

83.33

2. Non-Current Liabilities

 

 

 

 

a. Long-term Borrowings

3,00,000

2,00,000

(1,00,000)

(33.33)

3. Current Liabilities

 

 

 

 

a. Trade Payables

1,00,000

2,00,000

1,00,000

100.00

Total

10,00,000

15,00,000

5,00,000

50.00

 

 

 

 

 

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

4,00,000

8,00,000

4,00,000

50.00

         b. Intangible Assets 2,00,000 2,00,000 - -
         c. Non-Current Investments 2,00,000 2,00,000 - -

2. Current Assets

 

 

 

 

a. Inventories

1,50,000

2,50,000

1,00,000

66.67

b. Cash and Cash Equivalents

50,000

50,000

-

-

  2,00,000 3,00,000 1,00,000 50.00

Total

10,00,000

15,00,000

5,00,000

50.00

 

 

 

 

 

 

Page No 3.33:

Question 7:

In the books of Royal Industries Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Equity Share Capital

5,00,000

10,00,000

5,00,000

100.00

b. Reserve and Surplus

1,00,000

1,00,000

–

–

Shareholders’ Fund

6,00,000

11,00,000

5,00,000

83.33

2. Non-Current Liabilities

 

 

 

 

a. Long-term Borrowings

3,00,000

2,00,000

(1,00,000)

(33.33)

3. Current Liabilities

 

 

 

 

a. Trade Payables

1,00,000

2,00,000

1,00,000

100.00

Total

10,00,000

15,00,000

5,00,000

50.00

 

 

 

 

 

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

4,00,000

8,00,000

4,00,000

50.00

         b. Intangible Assets 2,00,000 2,00,000 - -
         c. Non-Current Investments 2,00,000 2,00,000 - -

2. Current Assets

 

 

 

 

a. Inventories

1,50,000

2,50,000

1,00,000

66.67

b. Cash and Cash Equivalents

50,000

50,000

-

-

  2,00,000 3,00,000 1,00,000 50.00

Total

10,00,000

15,00,000

5,00,000

50.00

 

 

 

 

 

 

Answer:

Comparative Balance Sheet
as at March 31,2013  and March 31,2014
Particulars 2014
(Rs)
2013
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Equity and Liabilities        
1. Shareholders’ Funds        
  1. Share Capital
       
1. Equity Share Capital 12,50,000 5,00,000 7,50,000 150.00
2. Preference Share Capital 2,50,000 2,50,000
  15,00,000 7,50,000 7,50,000 100.00
  1.  Reserve and Surplus
3,00,000 4,50,000 (1,50,000) (33.33)
Shareholders’ Fund 18,00,000 12,00,000 6,00,000 50.00
2. Non-Current Liabilities        
a. Long-term Borrowings        
12% Secured Debentures 9,50,000 5,50,000 4,00,000 72.73
12% Unsecured Debentures 2,50,000 2,00,000 50,000 25.00
  12,00,000 7,50,000 4,50,000 60.00
3. Current Liabilities        
  1. Short-Term Borrowings
3,50,000 1,75,000 1,75,000 100.00
b.  Trade Payables 2,00,000 1,00,000 1,00,000 100.00
c.  Short-Term Provisions 50,000 25,000 25,000 100.00
Total 36,00,000 22,50,000 13,50,000 60.00
II. Assets        
1. Non-Current Assets        
a. Fixed Assets (Tangible) 22,50,000 15,00,000 7,50,000 50.00
2. Current Assets        
  1. Inventories
4,50,000 2,50,000 2,00,000 80.00
b. Trade Receivables 8,00,000 4,50,000 3,50,000 77.78
c. Cash and Cash Equivalents 1,00,000 50,000 50,000 100.00
Total 36,00,000 22,50,000 13,50,000 60.00
         



Page No 3.34:

Question 8:

Comparative Balance Sheet
as at March 31,2013  and March 31,2014
Particulars 2014
(Rs)
2013
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Equity and Liabilities        
1. Shareholders’ Funds        
  1. Share Capital
       
1. Equity Share Capital 12,50,000 5,00,000 7,50,000 150.00
2. Preference Share Capital 2,50,000 2,50,000
  15,00,000 7,50,000 7,50,000 100.00
  1.  Reserve and Surplus
3,00,000 4,50,000 (1,50,000) (33.33)
Shareholders’ Fund 18,00,000 12,00,000 6,00,000 50.00
2. Non-Current Liabilities        
a. Long-term Borrowings        
12% Secured Debentures 9,50,000 5,50,000 4,00,000 72.73
12% Unsecured Debentures 2,50,000 2,00,000 50,000 25.00
  12,00,000 7,50,000 4,50,000 60.00
3. Current Liabilities        
  1. Short-Term Borrowings
3,50,000 1,75,000 1,75,000 100.00
b.  Trade Payables 2,00,000 1,00,000 1,00,000 100.00
c.  Short-Term Provisions 50,000 25,000 25,000 100.00
Total 36,00,000 22,50,000 13,50,000 60.00
II. Assets        
1. Non-Current Assets        
a. Fixed Assets (Tangible) 22,50,000 15,00,000 7,50,000 50.00
2. Current Assets        
  1. Inventories
4,50,000 2,50,000 2,00,000 80.00
b. Trade Receivables 8,00,000 4,50,000 3,50,000 77.78
c. Cash and Cash Equivalents 1,00,000 50,000 50,000 100.00
Total 36,00,000 22,50,000 13,50,000 60.00
         

Answer:

Comparative Income Statement
for the year ended March 31, 2013 and 2014
Particulars 2014
(Rs)
2013
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Revenue from Operations( Sales) 19,20,000 16,00,000 3,20,000 20.00
II. Expenses        
  1. Purchases of Stock-in-Trade
11,70,000 9,50,000 2,20,000 23.16
  1. Changes in Inventories of Stock-in-Trade
(10,000) 50,000 (60,000) 120.00
  1. Employees Benefit Expenses
3,80,000 2,80,000 1,00,000 35.71
  1. Other Expenses
1,50,000 2,00,000 (50,000) (25.00)
Total 16,90,000 14,80,000 2,10,000 14.19
Net Profit (I–II) 2,30,000 1,20,000 1,10,000 91.67
         

Page No 3.34:

Question 9:

Comparative Income Statement
for the year ended March 31, 2013 and 2014
Particulars 2014
(Rs)
2013
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Revenue from Operations( Sales) 19,20,000 16,00,000 3,20,000 20.00
II. Expenses        
  1. Purchases of Stock-in-Trade
11,70,000 9,50,000 2,20,000 23.16
  1. Changes in Inventories of Stock-in-Trade
(10,000) 50,000 (60,000) 120.00
  1. Employees Benefit Expenses
3,80,000 2,80,000 1,00,000 35.71
  1. Other Expenses
1,50,000 2,00,000 (50,000) (25.00)
Total 16,90,000 14,80,000 2,10,000 14.19
Net Profit (I–II) 2,30,000 1,20,000 1,10,000 91.67
         

Answer:

In the books of Usha Chemicals Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Equity Share Capital

4,00,000

7,00,000

3,00,000

75.00

b. Reserve and Surplus

6,00,000

5,00,000

(1,00,000)

(16.67)

Shareholders’ Fund

10,00,000

12,00,000

2,00,000

20.00

2. Non-Current Liabilities

 

 

 

 

a. Long-term Borrowings

 

 

 

 

(12% Loan)

10,00,000

13,00,000

3,00,000

30.00

3. Current Liabilities

 

 

 

 

a. Short-Term Provisions

25,000

40,000

15,000

60.00

b. Trade Payables

3,75,000

5,60,000

1,85,000

49.33

Total

24,00,000

31,00,000

7,00,000

29.17

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

20,00,000

18,00,000

(2,00,000)

(10.00)

Less: Depreciation

8,00,000

6,00,000

(2,00,000)

(25.00)

 

12,00,000

12,00,000

–

–

2. Current Assets

 

 

 

 

a. Trade Receivables

10,00,000

16,50,000

6,50,000

65.00

b. Cash and Cash Equivalents

2,00,000

2,50,000

50,000

25.00

  12,00,000 19,00,000 7,00,000 58.33

Total

24,00,000

31,00,000

7,00,000

29.17

 

 

 

 

 

 



Page No 3.35:

Question 10:

In the books of Usha Chemicals Ltd.

Comparative Balance Sheet

as at March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Equity Share Capital

4,00,000

7,00,000

3,00,000

75.00

b. Reserve and Surplus

6,00,000

5,00,000

(1,00,000)

(16.67)

Shareholders’ Fund

10,00,000

12,00,000

2,00,000

20.00

2. Non-Current Liabilities

 

 

 

 

a. Long-term Borrowings

 

 

 

 

(12% Loan)

10,00,000

13,00,000

3,00,000

30.00

3. Current Liabilities

 

 

 

 

a. Short-Term Provisions

25,000

40,000

15,000

60.00

b. Trade Payables

3,75,000

5,60,000

1,85,000

49.33

Total

24,00,000

31,00,000

7,00,000

29.17

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

20,00,000

18,00,000

(2,00,000)

(10.00)

Less: Depreciation

8,00,000

6,00,000

(2,00,000)

(25.00)

 

12,00,000

12,00,000

–

–

2. Current Assets

 

 

 

 

a. Trade Receivables

10,00,000

16,50,000

6,50,000

65.00

b. Cash and Cash Equivalents

2,00,000

2,50,000

50,000

25.00

  12,00,000 19,00,000 7,00,000 58.33

Total

24,00,000

31,00,000

7,00,000

29.17

 

 

 

 

 

 

Answer:

Comparative Balance Sheet of Depth Ltd.
as at March 31,2013  and March 31,2014
Particulars 2014
(Rs)
2013
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Equity and Liabilities        
1. Shareholders’ Funds        
  1. Share Capital
2,80,000 1,80,000 1,00,000 55.56
  1.  Reserve and Surplus
1,00,000 1,00,000 – –
Shareholders’ Fund 3,80,000 2,80,000 1,00,000 35.71
2. Non-Current Liabilities        
 Long-term Borrowings 80,000 20,000 60,000 300.00
3. Current Liabilities        
          Trade Payables 50,000 30,000 20,000 66.67
Total 5,10,000 3,30,000 1,80,000 54.55
II. Assets        
1. Non-Current Assets        
  1.  Fixed Assets
       
  1. Tangible Assets
2,80,000 1,80,000 1,00,000 55.56
  1. Intangible Assets
50,000 30,000 20,000 66.67
  1. Non-Current Assets
80,000 50,000 30,000 60.00
  4,10,000 2,60,000 1,50,000 57.69
2. Current Assets        
  1. Inventories
70,000 30,000 40,000 133.33
  1. Cash and Cash Equivalents
30,000 40,000 (10,000) (25.00)
  1,00,000 70,000 30,000 42.86
Total 5,10,000 3,30,000 1,80,000 54.55
         

Page No 3.35:

Question 11:

Comparative Balance Sheet of Depth Ltd.
as at March 31,2013  and March 31,2014
Particulars 2014
(Rs)
2013
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Equity and Liabilities        
1. Shareholders’ Funds        
  1. Share Capital
2,80,000 1,80,000 1,00,000 55.56
  1.  Reserve and Surplus
1,00,000 1,00,000 – –
Shareholders’ Fund 3,80,000 2,80,000 1,00,000 35.71
2. Non-Current Liabilities        
 Long-term Borrowings 80,000 20,000 60,000 300.00
3. Current Liabilities        
          Trade Payables 50,000 30,000 20,000 66.67
Total 5,10,000 3,30,000 1,80,000 54.55
II. Assets        
1. Non-Current Assets        
  1.  Fixed Assets
       
  1. Tangible Assets
2,80,000 1,80,000 1,00,000 55.56
  1. Intangible Assets
50,000 30,000 20,000 66.67
  1. Non-Current Assets
80,000 50,000 30,000 60.00
  4,10,000 2,60,000 1,50,000 57.69
2. Current Assets        
  1. Inventories
70,000 30,000 40,000 133.33
  1. Cash and Cash Equivalents
30,000 40,000 (10,000) (25.00)
  1,00,000 70,000 30,000 42.86
Total 5,10,000 3,30,000 1,80,000 54.55
         

Answer:

Comparative Income Statement
for the year ended March 31, 2013 and 2014
Particulars 2014
(Rs)
2013
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Revenue from Operations 50,00,000 40,00,000 10,00,000 25.00
II. Expenses        
  1. Employees Benefit Expenses
13,10,000 12,00,000 1,10,000 9.17
  1. Other Expenses
15,00,000 13,00,000 2,00,000 15.38
Total Expenses 28,10,000 25,00,000 3,10,000 12.40
Profit before Income Tax (I–II) 21,90,000 15,00,000 6,90,000 46.00
Less: Income Tax 6,57,000 4,50,000       2,07,000 46.00
Profit after Income Tax 15,33,000 10,50,000 4,83,000 46.00
         



Page No 3.36:

Question 12:

Comparative Income Statement
for the year ended March 31, 2013 and 2014
Particulars 2014
(Rs)
2013
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Revenue from Operations 50,00,000 40,00,000 10,00,000 25.00
II. Expenses        
  1. Employees Benefit Expenses
13,10,000 12,00,000 1,10,000 9.17
  1. Other Expenses
15,00,000 13,00,000 2,00,000 15.38
Total Expenses 28,10,000 25,00,000 3,10,000 12.40
Profit before Income Tax (I–II) 21,90,000 15,00,000 6,90,000 46.00
Less: Income Tax 6,57,000 4,50,000       2,07,000 46.00
Profit after Income Tax 15,33,000 10,50,000 4,83,000 46.00
         

Answer:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

2013

2014

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

3,00,000

3,50,000

50,000

16.67

II. Expenses

 

 

 

 

a. Purchase of Stock-in-Trade

1,80,000

2,10,000

30,000

16.67

b. Changes in Inventories of Stock-in-Trade

20,000

15,000

(5,000)

(25.00)

c. Employees Benefit cost

15,000

17,500

2,500

16.67

d. Other Expenses

5,000

7,500

2,500

50.00

 

2,20,000

2,50,000

30,000

13.67

Profit before Income Tax (I-II) 80,000 1,00,000 20,000 25.00

Less: Income Tax

24,000

30,000

6,000

25.00

Profit after Income Tax

56,000

70,000

14,000

25.00

 

 

 

 

 

 

Page No 3.36:

Question 13:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

2013

2014

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

3,00,000

3,50,000

50,000

16.67

II. Expenses

 

 

 

 

a. Purchase of Stock-in-Trade

1,80,000

2,10,000

30,000

16.67

b. Changes in Inventories of Stock-in-Trade

20,000

15,000

(5,000)

(25.00)

c. Employees Benefit cost

15,000

17,500

2,500

16.67

d. Other Expenses

5,000

7,500

2,500

50.00

 

2,20,000

2,50,000

30,000

13.67

Profit before Income Tax (I-II) 80,000 1,00,000 20,000 25.00

Less: Income Tax

24,000

30,000

6,000

25.00

Profit after Income Tax

56,000

70,000

14,000

25.00

 

 

 

 

 

 

Answer:

Comparative Income Statement
for the year ended March 31, 2013 and 2014
Particulars 2014
(Rs)
2013
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Revenue from Operations 10,00,000 7,50,000 2,50,000 33.33
II. Other Income 10,000 7,500 2,500 33.33
III. Total Revenue (I + II) 10,10,000 7,57,500 2,52,500 3.33
IV. Expenses        
  1. Purchases of Stock-in-Trade
4,00,000 3,00,000 1,00,000 33.33
  1. Changes in Inventories of Stock-in-Trade
1,00,000 75,000 25,000 33.33
  1. Employees Benefit Expenses
1,44,000 1,44,000
  1. Depreciation and Amortisation Expenses
10,000 12,000 (2,000) (16.67)
  1. Other Expenses
25,000 14,000 11,000 78.57
Total Expenses 6,79,000 5,45,000 1,34,000 24.59
Profit before Income Tax 3,31,000 2,12,500 1,18,500 55.76
Less: Income Tax 99,300 63,750 35,550 55.76
Profit after Income Tax 2,31,700 1,48,750 82,950 55.76
         



Page No 3.37:

Question 14:

Comparative Income Statement
for the year ended March 31, 2013 and 2014
Particulars 2014
(Rs)
2013
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Revenue from Operations 10,00,000 7,50,000 2,50,000 33.33
II. Other Income 10,000 7,500 2,500 33.33
III. Total Revenue (I + II) 10,10,000 7,57,500 2,52,500 3.33
IV. Expenses        
  1. Purchases of Stock-in-Trade
4,00,000 3,00,000 1,00,000 33.33
  1. Changes in Inventories of Stock-in-Trade
1,00,000 75,000 25,000 33.33
  1. Employees Benefit Expenses
1,44,000 1,44,000
  1. Depreciation and Amortisation Expenses
10,000 12,000 (2,000) (16.67)
  1. Other Expenses
25,000 14,000 11,000 78.57
Total Expenses 6,79,000 5,45,000 1,34,000 24.59
Profit before Income Tax 3,31,000 2,12,500 1,18,500 55.76
Less: Income Tax 99,300 63,750 35,550 55.76
Profit after Income Tax 2,31,700 1,48,750 82,950 55.76
         

Answer:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

2,50,000

3,00,000

50,000

20.00

II. Expenses:

 

 

 

 

a. Cost of Materials Consumed

1,00,000

1,20,000

20,000

20.00

b. Changes in Inventories of WIP and Finished Goods

5,000

(2,000)

(7,000)

(140.00)

c. Employees Benefit Expenses (Wages)

25,000

30,000

5,000

20.00

d. Other Expenses

20,000

22,000

2,000

10.00

 

1,50,000

1,70,000

20,000

13.33

Profit before Income Tax (I-II) 1,00,000 1,30,000 30,000 30.00

Less: Income Tax

–

–

–

–

Profit after Income Tax

1,00,000

1,30,000

30,000

30.00

 

 

 

 

 

 

Page No 3.37:

Question 15:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

2,50,000

3,00,000

50,000

20.00

II. Expenses:

 

 

 

 

a. Cost of Materials Consumed

1,00,000

1,20,000

20,000

20.00

b. Changes in Inventories of WIP and Finished Goods

5,000

(2,000)

(7,000)

(140.00)

c. Employees Benefit Expenses (Wages)

25,000

30,000

5,000

20.00

d. Other Expenses

20,000

22,000

2,000

10.00

 

1,50,000

1,70,000

20,000

13.33

Profit before Income Tax (I-II) 1,00,000 1,30,000 30,000 30.00

Less: Income Tax

–

–

–

–

Profit after Income Tax

1,00,000

1,30,000

30,000

30.00

 

 

 

 

 

 

Answer:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

March 31, 2013

(Rs)

March 31, 2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from operations

20,00,000

30,00,000

10,00,000

50.00

II. Other Income

4,00,000

3,60,000

(40,000)

(10.00)

III. Total Revenue (I + II)

24,00,000

33,60,000

9,60,000

40.00

IV. Expenses

12,00,000

21,00,000

9,00,000

75.00

Profit before Income Tax

12,00,000

12,60,000

60,000

5.00

Less: Income Tax @ 40%

4,80,000

5,04,000

24,000

5.00

Profit after Income Tax

7,20,000

7,56,000

36,000

5.00

 

 

 

 

 

Working Notes:

WN1 Computation of Other Income

Particulars

2013

(Rs)

2014

(Rs)

Revenue From Operations

20,00,000

30,00,000

% of Revenue From Operations

20%

12%

Other Income

4,00,000

3,60,000

 

WN1 Computation of Expenses

Particulars

2013

(Rs)

2014

(Rs)

Revenue From Operations

20,00,000

30,00,000

% of Revenue From Operations

60%

70%

Expenses

12,00,000

21,00,000

 

Page No 3.37:

Question 16:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

March 31, 2013

(Rs)

March 31, 2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from operations

20,00,000

30,00,000

10,00,000

50.00

II. Other Income

4,00,000

3,60,000

(40,000)

(10.00)

III. Total Revenue (I + II)

24,00,000

33,60,000

9,60,000

40.00

IV. Expenses

12,00,000

21,00,000

9,00,000

75.00

Profit before Income Tax

12,00,000

12,60,000

60,000

5.00

Less: Income Tax @ 40%

4,80,000

5,04,000

24,000

5.00

Profit after Income Tax

7,20,000

7,56,000

36,000

5.00

 

 

 

 

 

Working Notes:

WN1 Computation of Other Income

Particulars

2013

(Rs)

2014

(Rs)

Revenue From Operations

20,00,000

30,00,000

% of Revenue From Operations

20%

12%

Other Income

4,00,000

3,60,000

 

WN1 Computation of Expenses

Particulars

2013

(Rs)

2014

(Rs)

Revenue From Operations

20,00,000

30,00,000

% of Revenue From Operations

60%

70%

Expenses

12,00,000

21,00,000

 

Answer:

Comparative Income Statement

for the year ended 31st March, 2013 and 2014

Particulars

March 31, 2013

(Rs)

March 31, 2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations (WN1)

12,00,000

16,80,000

4,80,000

40.00

II. Expenses

 

 

 

 

a. Cost of Material Consumed

6,00,000

13,44,000

7,44,000

124.00

b. Other Expenses (WN2)

1,20,000

1,68,000

48,000

40.00

 

7,20,000

15,12,000

7,92,000

110.00

Profit before Income Tax (I-II) 4,80,000 1,68,000 (3,12,000) (65.00)

Less: Income Tax @ 50%

2,40,000

84,000

(1,56,000)

(65.00)

Profit after Income Tax

2,40,000

84,000

1,56,000

(65.00)

 

 

 

 

 

Working Notes:

WN1 Computation of Revenue from Operations

Particulars

2013

(Rs)

2014

(Rs)

Cost of Materials Consumed

6,00,000

13,44,000

% of Materials Consumed

200%

125%

Revenue from Operations

12,00,000

16,80,000

 

WN2 Computation of Other Expenses

Particulars

2013

(Rs)

2014

(Rs)

Revenue From Operations

12,00,000

16,80,000

% of Operating Revenue

10%

10%

Other Expenses

1,20,000

1,68,000

 



Page No 3.38:

Question 17:

Comparative Income Statement

for the year ended 31st March, 2013 and 2014

Particulars

March 31, 2013

(Rs)

March 31, 2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations (WN1)

12,00,000

16,80,000

4,80,000

40.00

II. Expenses

 

 

 

 

a. Cost of Material Consumed

6,00,000

13,44,000

7,44,000

124.00

b. Other Expenses (WN2)

1,20,000

1,68,000

48,000

40.00

 

7,20,000

15,12,000

7,92,000

110.00

Profit before Income Tax (I-II) 4,80,000 1,68,000 (3,12,000) (65.00)

Less: Income Tax @ 50%

2,40,000

84,000

(1,56,000)

(65.00)

Profit after Income Tax

2,40,000

84,000

1,56,000

(65.00)

 

 

 

 

 

Working Notes:

WN1 Computation of Revenue from Operations

Particulars

2013

(Rs)

2014

(Rs)

Cost of Materials Consumed

6,00,000

13,44,000

% of Materials Consumed

200%

125%

Revenue from Operations

12,00,000

16,80,000

 

WN2 Computation of Other Expenses

Particulars

2013

(Rs)

2014

(Rs)

Revenue From Operations

12,00,000

16,80,000

% of Operating Revenue

10%

10%

Other Expenses

1,20,000

1,68,000

 

Answer:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

40,00,000

50,00,000

10,00,000

25.00

II. Expenses:

 

 

 

 

a. Purchases of Stock-in-Trade

28,50,000

34,00,000

5,50,000

19.30

b. Changes in Inventories of Stock-in-Trade

1,50,000

1,00,000

(50,000)

(33.33)

c. Employees Benefit Expenses

1,00,000

1,00,000

–

–

d. Other Expenses

1,50,000

2,00,000

50,000

33.33

 

32,50,000

38,00,000

5,50,000

16.92

Profit before Income Tax (I-II) 7,50,000 12,00,000 4,50,000 60.00

Less: Income Tax

–

–

–

–

Profit after Income Tax

7,50,000

12,00,000

4,50,000

60.00

 

 

 

 

 

 

Page No 3.38:

Question 18:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

40,00,000

50,00,000

10,00,000

25.00

II. Expenses:

 

 

 

 

a. Purchases of Stock-in-Trade

28,50,000

34,00,000

5,50,000

19.30

b. Changes in Inventories of Stock-in-Trade

1,50,000

1,00,000

(50,000)

(33.33)

c. Employees Benefit Expenses

1,00,000

1,00,000

–

–

d. Other Expenses

1,50,000

2,00,000

50,000

33.33

 

32,50,000

38,00,000

5,50,000

16.92

Profit before Income Tax (I-II) 7,50,000 12,00,000 4,50,000 60.00

Less: Income Tax

–

–

–

–

Profit after Income Tax

7,50,000

12,00,000

4,50,000

60.00

 

 

 

 

 

 

Answer:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

75,00,000

60,00,000

(15,00,000)

(20.00)

II. Other Income

3,00,000

1,50,000

(1,50,000)

(50.00)

III. Total Revenue (I + II)

78,00,000

61,50,000

(16,50,000)

(21.15)

IV. Expenses

 

 

 

 

a. Purchases of Stock-in-Trade

43,00,000

31,00,000

(12,00,000)

(27.91)

b. Changes in Inventories of Stock-in-Trade

2,00,000

(1,00,000)

(3,00,000)

(150.00)

c. Employees Benefit Expenses

3,00,000

2,00,000

(1,00,000)

(33.33)

d. Other Expenses

21,00,000

18,75,000

(2,25,000)

(10.71)

  69,00,000 50,75,000 (18,25,000) (26.45)

Profit before Income Tax

9,00,000

10,75,000

1,75,000

19.44

Less: Income Tax

–

–

–

–

Profit after Income Tax

9,00,000

10,75,000

1,75,000

19.44

 

 

 

 

 

 



Page No 3.39:

Question 19:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

2013

(Rs)

2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

75,00,000

60,00,000

(15,00,000)

(20.00)

II. Other Income

3,00,000

1,50,000

(1,50,000)

(50.00)

III. Total Revenue (I + II)

78,00,000

61,50,000

(16,50,000)

(21.15)

IV. Expenses

 

 

 

 

a. Purchases of Stock-in-Trade

43,00,000

31,00,000

(12,00,000)

(27.91)

b. Changes in Inventories of Stock-in-Trade

2,00,000

(1,00,000)

(3,00,000)

(150.00)

c. Employees Benefit Expenses

3,00,000

2,00,000

(1,00,000)

(33.33)

d. Other Expenses

21,00,000

18,75,000

(2,25,000)

(10.71)

  69,00,000 50,75,000 (18,25,000) (26.45)

Profit before Income Tax

9,00,000

10,75,000

1,75,000

19.44

Less: Income Tax

–

–

–

–

Profit after Income Tax

9,00,000

10,75,000

1,75,000

19.44

 

 

 

 

 

 

Answer:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

March 31, 2013

(Rs)

March 31, 2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

40,00,000

50,00,000

10,00,000

25.00

II. Other Income

2,00,000

3,00,000

1,00,000

50.00

III. Total Revenue (I + II)

42,00,000

53,00,000

11,00,000

26.19

IV. Expenses

 

 

 

 

a. Purchases of Stock-in-Trade

32,00,000

34,00,000

2,00,000

6.25

b. Changes in Inventory of Stock-in-Trade

(2,00,000)

1,00,000

3,00,000

150.00

c. Employee Benefit Expenses

1,00,000

1,00,000

–

–

d. Finance Cost

50,000

45,000

(5,000)

(10.00)

e. Depreciation

25,000

30,000

5,000

20.00

f. Other Expenses

3,00,000

3,25,000

25,000

8.33

  34,75,000 40,00,000 5,25,000 15.10

Profit before Income Tax

7,25,000

13,00,000

5,75,000

79.31

Less: Income Tax

–

–

–

–

Profit after Income Tax

7,25,000

13,00,000

5,75,000

79.31

 

 

 

 

 

 



Page No 3.40:

Question 20:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

March 31, 2013

(Rs)

March 31, 2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

40,00,000

50,00,000

10,00,000

25.00

II. Other Income

2,00,000

3,00,000

1,00,000

50.00

III. Total Revenue (I + II)

42,00,000

53,00,000

11,00,000

26.19

IV. Expenses

 

 

 

 

a. Purchases of Stock-in-Trade

32,00,000

34,00,000

2,00,000

6.25

b. Changes in Inventory of Stock-in-Trade

(2,00,000)

1,00,000

3,00,000

150.00

c. Employee Benefit Expenses

1,00,000

1,00,000

–

–

d. Finance Cost

50,000

45,000

(5,000)

(10.00)

e. Depreciation

25,000

30,000

5,000

20.00

f. Other Expenses

3,00,000

3,25,000

25,000

8.33

  34,75,000 40,00,000 5,25,000 15.10

Profit before Income Tax

7,25,000

13,00,000

5,75,000

79.31

Less: Income Tax

–

–

–

–

Profit after Income Tax

7,25,000

13,00,000

5,75,000

79.31

 

 

 

 

 

 

Answer:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

March 31, 2013

(Rs)

March 31, 2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from operations

25,00,000

37,50,000

12,50,000

50.00

II. Other Income

5,00,000

4,50,000

(50,000)

(10.00)

III. Total Revenue (I + II)

30,00,000

42,00,000

12,00,000

40.00

IV. Expenses

 

 

 

 

a. Cost of Materials Consumed

12,50,000

22,50,000

10,00,000

80.00

b. Other Expenses

2,50,000

3,75,000

1,25,000

50.00

  15,00,000 26,25,000 11,25,000 75.00

Profit before Income Tax

15,00,000

15,75,000

75,000

5.00

Less: Income Tax @ 50%

7,50,000

7,87,500

37,500

5.00

Profit after Income Tax

7,50,000

7,87,500

37,500

5.00

 

 

 

 

 

 

Page No 3.40:

Question 21:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

March 31, 2013

(Rs)

March 31, 2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from operations

25,00,000

37,50,000

12,50,000

50.00

II. Other Income

5,00,000

4,50,000

(50,000)

(10.00)

III. Total Revenue (I + II)

30,00,000

42,00,000

12,00,000

40.00

IV. Expenses

 

 

 

 

a. Cost of Materials Consumed

12,50,000

22,50,000

10,00,000

80.00

b. Other Expenses

2,50,000

3,75,000

1,25,000

50.00

  15,00,000 26,25,000 11,25,000 75.00

Profit before Income Tax

15,00,000

15,75,000

75,000

5.00

Less: Income Tax @ 50%

7,50,000

7,87,500

37,500

5.00

Profit after Income Tax

7,50,000

7,87,500

37,500

5.00

 

 

 

 

 

 

Answer:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

March 31, 2013

(Rs)

March 31, 2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

17,50,000

20,00,000

2,50,000

14.29

II. Other Income

50,000

75,000

25,000

50.00

III. Total Revenue (I + II)

18,00,000

20,75,000

2,75,000

15.28

IV. Expenses

 

 

 

 

a. Purchases of Stock-in-Trade

10,00,000

11,60,000

1,60,000

16.00

b. Changes in Inventory of Stock-in-Trade

(25,000)

10,000

35,000

140.00

c. Employee Benefit Expenses

3,00,000

3,00,000

–

–

d. Depreciation

50,000

50,000

–

–

e. Other Expenses

75,000

90,000

15,000

20.00

  14,00,000 16,10,000 2,10,000 15.00

Profit before Income Tax

4,00,000

4,65,000

65,000

16.25

Less: Income Tax

–

–

–

–

Profit after Income Tax

4,00,000

4,65,000

65,000

16.25

 

 

 

 

 

 

Page No 3.40:

Question 22:

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

March 31, 2013

(Rs)

March 31, 2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

17,50,000

20,00,000

2,50,000

14.29

II. Other Income

50,000

75,000

25,000

50.00

III. Total Revenue (I + II)

18,00,000

20,75,000

2,75,000

15.28

IV. Expenses

 

 

 

 

a. Purchases of Stock-in-Trade

10,00,000

11,60,000

1,60,000

16.00

b. Changes in Inventory of Stock-in-Trade

(25,000)

10,000

35,000

140.00

c. Employee Benefit Expenses

3,00,000

3,00,000

–

–

d. Depreciation

50,000

50,000

–

–

e. Other Expenses

75,000

90,000

15,000

20.00

  14,00,000 16,10,000 2,10,000 15.00

Profit before Income Tax

4,00,000

4,65,000

65,000

16.25

Less: Income Tax

–

–

–

–

Profit after Income Tax

4,00,000

4,65,000

65,000

16.25

 

 

 

 

 

 

Answer:

In the Books of Shyam Ltd.

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

March 31, 2013

(Rs)

March 31, 2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

17,50,000

20,00,000

2,50,000

14.28

II. Expenses

 

 

 

 

a. Purchases of Stock-in-Trade

8,25,000

10,00,000

1,75,000

21.21

b. Changes in Inventory of Stock-in-Trade

1,50,000

1,70,000

20,000

13.33

c. Expenses

7,700

11,500

3,800

49.35

Profit before Income Tax

7,67,300

8,18,500

51,200

6.67

Less: Income Tax @ 40%

3,06,920

3,27,400

20,480

6.67

Profit after Income Tax

4,60,380

4,91,100

30,720

6.67

 

 

 

 

 

 



Page No 3.41:

Question 23:

In the Books of Shyam Ltd.

Comparative Income Statement

for the year ended March 31, 2013 and 2014

Particulars

March 31, 2013

(Rs)

March 31, 2014

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

17,50,000

20,00,000

2,50,000

14.28

II. Expenses

 

 

 

 

a. Purchases of Stock-in-Trade

8,25,000

10,00,000

1,75,000

21.21

b. Changes in Inventory of Stock-in-Trade

1,50,000

1,70,000

20,000

13.33

c. Expenses

7,700

11,500

3,800

49.35

Profit before Income Tax

7,67,300

8,18,500

51,200

6.67

Less: Income Tax @ 40%

3,06,920

3,27,400

20,480

6.67

Profit after Income Tax

4,60,380

4,91,100

30,720

6.67

 

 

 

 

 

 

Answer:

Comparative Income Statement of Advance Marketing Ltd.
for the year ended March 31, 2013 and 2014
Particulars 2014
(Rs)
2013
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Revenue from Operations 30,00,000 25,00,000 5,00,000 20.00
II. Other Income 40,000 40,000 – –
III. Total Revenue (I + II) 30,40,000 25,40,000 5,00,000 19.69
IV. Expenses        
  1. Purchases of Stock-in-Trade
18,00,000 15,00,000 3,00,000 20.00
  1. Changes in Inventories of Stock-in-Trade
(15,000) 10,000 (25,000) (250.00)
  1. Employees Benefit Expenses
2,40,000 2,40,000 – –
  1. Finance Costs
90,000 70,000 20,000 28.57
  1. Depreciation and Amortisation Expenses
22,500 25,000 (2,500) (10.00)
  1. Other Expenses*
2,42,000 2,16,000 26,000 12.04
Total Expenses 23,79,500 20,61,000 3,18,500 15.55
Profit before Tax (I–II) 6,60,500 4,79,000 1,81,500 37.89
Less: Provision for Tax 60,000 50,000 10,000 20.00
Profit After Tax 6,00,500 4,29,000 1,71,500 39.98
         

 
*Provision for Tax given in the Other Expenses (in Notes to Accounts) is separately deducted from the Profit before tax and is not included in such other expenses.

Items 2014 (Rs) 2013 (Rs)
Other Expenses:    
Power and Fuel 40,000 36,000
Carriage Outwards 9,500 7,500
License Fee 2,500 2,500
Selling and Distribution expenses 1,90,000 1,70,000
     
Total 2,42,000 2,16,000

Page No 3.41:

Question 24:

Comparative Income Statement of Advance Marketing Ltd.
for the year ended March 31, 2013 and 2014
Particulars 2014
(Rs)
2013
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Revenue from Operations 30,00,000 25,00,000 5,00,000 20.00
II. Other Income 40,000 40,000 – –
III. Total Revenue (I + II) 30,40,000 25,40,000 5,00,000 19.69
IV. Expenses        
  1. Purchases of Stock-in-Trade
18,00,000 15,00,000 3,00,000 20.00
  1. Changes in Inventories of Stock-in-Trade
(15,000) 10,000 (25,000) (250.00)
  1. Employees Benefit Expenses
2,40,000 2,40,000 – –
  1. Finance Costs
90,000 70,000 20,000 28.57
  1. Depreciation and Amortisation Expenses
22,500 25,000 (2,500) (10.00)
  1. Other Expenses*
2,42,000 2,16,000 26,000 12.04
Total Expenses 23,79,500 20,61,000 3,18,500 15.55
Profit before Tax (I–II) 6,60,500 4,79,000 1,81,500 37.89
Less: Provision for Tax 60,000 50,000 10,000 20.00
Profit After Tax 6,00,500 4,29,000 1,71,500 39.98
         

 
*Provision for Tax given in the Other Expenses (in Notes to Accounts) is separately deducted from the Profit before tax and is not included in such other expenses.

Items 2014 (Rs) 2013 (Rs)
Other Expenses:    
Power and Fuel 40,000 36,000
Carriage Outwards 9,500 7,500
License Fee 2,500 2,500
Selling and Distribution expenses 1,90,000 1,70,000
     
Total 2,42,000 2,16,000

Answer:

Common Size Income Statement

for the year ended March 31, 2014

Particulars

Absolute Amount

(Rs)

Percentage of Revenue of Revenue from Operations

(%)

I. Revenue from Operations

15,00,000

100.00

II. Other Incomes

60,000

4.00

Total Revenue (I +II)

15,60,000

104.00

IV. Expenses

 

 

a. Purchases of Stock-in-Trade

7,50,000

50.00

b. Change in Inventories of Stock-in-Trade

50,000

3.33

c. Other Expenses

2,10,000

14.00

Profit before Income Tax

5,50,000

36.67

Less: Income Tax

Profit after Income Tax

5,50,000

36.67

 

 

 

 



Page No 3.42:

Question 25:

Common Size Income Statement

for the year ended March 31, 2014

Particulars

Absolute Amount

(Rs)

Percentage of Revenue of Revenue from Operations

(%)

I. Revenue from Operations

15,00,000

100.00

II. Other Incomes

60,000

4.00

Total Revenue (I +II)

15,60,000

104.00

IV. Expenses

 

 

a. Purchases of Stock-in-Trade

7,50,000

50.00

b. Change in Inventories of Stock-in-Trade

50,000

3.33

c. Other Expenses

2,10,000

14.00

Profit before Income Tax

5,50,000

36.67

Less: Income Tax

Profit after Income Tax

5,50,000

36.67

 

 

 

 

Answer:

Common Size Income Statement

for the year ended March 31, 2013 and 2014

Particulars

Absolute Amount

(Rs)

Percentage of Revenue

(%)

2013

2014

2013

2014

I. Revenue from Operations

15,00,000

18,01,000

100

100

II. Other Incomes

15,000

20,000

1

1.11

Total Revenues (I + II)

15,15,000

18,21,000

101

101.11

IV. Expenses

 

 

 

 

a. Purchase of Stock-in-Trade

9,00,000

10,22,500

60.00 56.77

b. Change in Inventories of Stock-in-Trade

10,000

(10,000)

0.67 (0.55)

c. Employees Benefit Expenses

3,00,000

3,30,000

20.00 18.32

d. Other Expenses

1,70,000

2,00,000

11.33 11.10
  13,80,000 15,42,500 92 85.65

Profit before Income Tax

1,35,000

2,78,500

9.00 15.46

Less: Income Tax

–

–

- -

Profit after Income Tax

1,35,000

2,78,500

9.00 15.46

 

 

 

 

 

 

Page No 3.42:

Question 26:

Common Size Income Statement

for the year ended March 31, 2013 and 2014

Particulars

Absolute Amount

(Rs)

Percentage of Revenue

(%)

2013

2014

2013

2014

I. Revenue from Operations

15,00,000

18,01,000

100

100

II. Other Incomes

15,000

20,000

1

1.11

Total Revenues (I + II)

15,15,000

18,21,000

101

101.11

IV. Expenses

 

 

 

 

a. Purchase of Stock-in-Trade

9,00,000

10,22,500

60.00 56.77

b. Change in Inventories of Stock-in-Trade

10,000

(10,000)

0.67 (0.55)

c. Employees Benefit Expenses

3,00,000

3,30,000

20.00 18.32

d. Other Expenses

1,70,000

2,00,000

11.33 11.10
  13,80,000 15,42,500 92 85.65

Profit before Income Tax

1,35,000

2,78,500

9.00 15.46

Less: Income Tax

–

–

- -

Profit after Income Tax

1,35,000

2,78,500

9.00 15.46

 

 

 

 

 

 

Answer:

Common Size Income Statement

for the year ended…..

Particulars

Absolute Amount

(Rs)

Percentage of Revenue

(%)

Year 1

Year II

Year 1

Year II

I. Revenue from Operations

14,00,000

16,00,000

100.00

100.00

II. Expenses

 

 

 

 

a. Purchases of Stock-in-Trade

9,00,000

10,00,000

64.28

62.5

b. Change in Inventories of Stock-in-Trade

1,00,000

1,80,000

7.14

11.25

c. Finance Cost

80,000

80,000

5.71

5.00

d. Other Expenses

90,000

1,30,000

6.42

8.12

Profit before Income Tax

2,30,000

2,10,000

16.42

13.13

Less: Income Tax

40,000

36,000

2.85

2.25

Profit after Income Tax

1,90,000

1,74,000

13.57

10.88

 

 

 

 

 

 



Page No 3.43:

Question 27:

Common Size Income Statement

for the year ended…..

Particulars

Absolute Amount

(Rs)

Percentage of Revenue

(%)

Year 1

Year II

Year 1

Year II

I. Revenue from Operations

14,00,000

16,00,000

100.00

100.00

II. Expenses

 

 

 

 

a. Purchases of Stock-in-Trade

9,00,000

10,00,000

64.28

62.5

b. Change in Inventories of Stock-in-Trade

1,00,000

1,80,000

7.14

11.25

c. Finance Cost

80,000

80,000

5.71

5.00

d. Other Expenses

90,000

1,30,000

6.42

8.12

Profit before Income Tax

2,30,000

2,10,000

16.42

13.13

Less: Income Tax

40,000

36,000

2.85

2.25

Profit after Income Tax

1,90,000

1,74,000

13.57

10.88

 

 

 

 

 

 

Answer:

Common Size Balance Sheet

as at March 31, 2013 and 2014

Particulars

Absolute Amount

(Rs)

Percentage of Balance Sheet Total

(%)

March 31, 2013

March 31, 2014

March 31, 2013

March 31, 2014

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Share Capital

 

 

 

 

i) Equity Share Capital

8,00,000

6,00,000

42.11

42.55

ii) Preference Share Capital

4,00,000

2,00,000

21.05

14.18

b. Reserves and Surplus

2,00,000

2,00,000

10.53

14.18

2. Non-Current Liabilities

 

 

 

 

a. Long-Term Borrowings

2,00,000

2,00,000

10.53

14.18

3. Current Liabilities

 

 

 

 

a. Short-Term Borrowings

1,50,000

90,000

7.89

6.38

b. Trade Payables

1,25,000

1,00,000

6.58

7.09

c. Short-Term Provisions

25,000

20,000

1.31

1.42

Total

19,00,000

14,10,000

100.00

100.00

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets

 

 

 

 

i) Tangible

8,00,000

6,00,000

42.10

42.55

ii) Intangible

2,00,000

2,00,000

10.53

14.18

  10,00,000 8,00,000 52.63 56.73

b. Non-Current Investments

2,00,000

2,00,000

10.53

14.18

2. Current Assets

 

 

 

 

a. Inventories

2,50,000

1,75,000

13.16

12.41

b. Trade Receivables

2,75,000

1,45,000

14.47

10.28

c. Cash and Cash Equivalents

1,75,000

90,000

9.21

6.38

  7,00,000 4,10,000 36.84 29.08

Total

19,00,000

14,10,000

100.00

100.00

 

 

 

 

 

Note: Answer in the text book is given only upto one decimal place.



Page No 3.44:

Question 28:

Common Size Balance Sheet

as at March 31, 2013 and 2014

Particulars

Absolute Amount

(Rs)

Percentage of Balance Sheet Total

(%)

March 31, 2013

March 31, 2014

March 31, 2013

March 31, 2014

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Share Capital

 

 

 

 

i) Equity Share Capital

8,00,000

6,00,000

42.11

42.55

ii) Preference Share Capital

4,00,000

2,00,000

21.05

14.18

b. Reserves and Surplus

2,00,000

2,00,000

10.53

14.18

2. Non-Current Liabilities

 

 

 

 

a. Long-Term Borrowings

2,00,000

2,00,000

10.53

14.18

3. Current Liabilities

 

 

 

 

a. Short-Term Borrowings

1,50,000

90,000

7.89

6.38

b. Trade Payables

1,25,000

1,00,000

6.58

7.09

c. Short-Term Provisions

25,000

20,000

1.31

1.42

Total

19,00,000

14,10,000

100.00

100.00

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets

 

 

 

 

i) Tangible

8,00,000

6,00,000

42.10

42.55

ii) Intangible

2,00,000

2,00,000

10.53

14.18

  10,00,000 8,00,000 52.63 56.73

b. Non-Current Investments

2,00,000

2,00,000

10.53

14.18

2. Current Assets

 

 

 

 

a. Inventories

2,50,000

1,75,000

13.16

12.41

b. Trade Receivables

2,75,000

1,45,000

14.47

10.28

c. Cash and Cash Equivalents

1,75,000

90,000

9.21

6.38

  7,00,000 4,10,000 36.84 29.08

Total

19,00,000

14,10,000

100.00

100.00

 

 

 

 

 

Note: Answer in the text book is given only upto one decimal place.

Answer:

Common Size Balance Sheet

as at March 31, 2013

Particulars

Absolute Amount

(Rs)

Percentage of Balance Sheet Total

(%)

X Ltd.

Y Ltd.

X Ltd.

Y Ltd.

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Share Capital

9,00,000

12,00,000

60.00

66.67

b. Reserve and Surplus

4,00,000

3,50,000

26.67

19.44

2. Current Liabilities

 

 

 

 

a. Trade Payables

2,00,000

2,50,000

13.33

13.89

Total

15,00,000

18,00,000

100.00

100.00

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets

10,00,000

16,00,000

66.67

88.89

2. Current Assets

 

 

 

 

a. Trade Receivables

5,00,000

2,00,000

33.33

11.11

Total

15,00,000

18,00,000

100.00

100.00

 

 

 

 

 

Comments:

1. Y Ltd. has a greater share of Capital in the total sources of funds i.e. 66.67% in comparison to 60% of X Ltd.

2. X Ltd. retains 26.67% of their earnings as a part of Reserves and Surplus. Whereas, Y Ltd. retains only 19.44% of their earnings.

3. Y Ltd. has invested major portion of its funds on acquiring the Fixed Assets as these are 88.89% of the total application of funds in comparison to 66.67% of X Ltd. On the other hand, X Ltd. emphasises more on Current Assets as these are 33.33% of the total applications of funds in comparison to 11.11% of Y Ltd.



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