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12th Accountancy Monthly Test -2 ( Financial Statement Analysis )

St. Britto Hr. Sec. School - Madurai

12th Accountancy Monthly Test -2 ( Financial Statement Analysis )-Aug 2020

Time : 2.30 Hours

Part - A

Multiple Choice Question - Answer All Question

The financial statements do not exhibit

Non-monetary data
Past data
Short term data
Long term data

Which of the following tools of financial statement analysis is suitable when data relating to several years are to be analysed?

Cash flow statement
Common size statement
Comparative statement
Trend analysis

Which of the following statements is not true?

All the limitations of financial statements are applicable to financial statement analysis also.
Financial statement analysis is only the means and not an end.
Expert knowledge is not required in analysing the financial statements
Interpretation of the analysed data involves personal judgement

A limited company’s sales has increased from Rs.1,25,000 to Rs.1,50,000. How does this
appear in comparative income statement?

+ 20 %
+ 120 %
– 120 %
– 20 %

Expenses for a business for the first year were ` 80,000. In the second year, it was
increased to Rs. 88,000. What is the trend percentage in the second year?

10 %
110 %
90 %
11%

The term ‘fund’ refers to

Current liabilities
Working capital
Fixed assets
Non-current assets

In a common-size balance sheet, if the percentage of non-current assets is 75, what
would be the percentage of current assets?

175
125
25
100

Balance sheet provides information about the financial position of a business concern

Over a period of time
As on a particular date
For a period of time
For the accounting period

Which of the following is not a tool of financial statement analysis?

Trend analysis
Common size statement
Comparative statement
Standard costing

Part - B

Generic 2 - Answer All Question

List the tools of financial statement analysis.

When is trend analysis preferred to other tools?

From the following particulars, prepare comparative balance sheet of Malar Ltd as on 31st
March 2016 and 31st March 2017.

Particulars 31st March 2016 31st March 2017

RS. Rs.

I EQUITY AND LIABILITIES

1. Shareholders’ fund

a) Share capital 2,00,000 2,50,000

b) Reserves and surplus 50,000 50,000

2. Non-current liabilities

Long-term borrowings 30,000 60,000

3. Current liabilities

Trade payables 20,000 60,000

Total 3,00,000 4,20,000

II ASSETS

1. Non-current assets

a) Fixed assets 1,00,000 1,50,000

b) Non - current investments 50,000 75,000

2. Current assets

Inventories 75,000 1,50,000

Cash and cash equivalents 75,000 45,000

Total 3,00,000 4,20,000

From the following particulars, prepare comparative income statement of Mary Co. Ltd.

Particulars 2015-16
Rs. 2016-17
Rs.

Revenue from operations 4,00,000 5,00,000

Operating expenses 2,00,000 1,80,000

Income tax (% of the profit before tax) 20 50

What are financial statements?

From the following balance sheet of Chandra Ltd, prepare comparative balance sheet as on
31st March 2016 and 31st March 2017.

Particulars 31st March 2016 31st March 2017

Rs. Rs.

I EQUITY AND LIABILITIES

Shareholders’ fund 1,00,000 2,60,000

Non-current liabilities 50,000 60,000

Current liabilities 25,000 30,000

Total 1,75,000 3,50,000

II ASSETS 1,00,000 2,00,000

Current assets 75,000 1,50,000

Total 1,75,000 3,50,000

From the following particulars, prepare comparative income statement of Tharun Co. Ltd.

Particulars 2016-17 2017-18

Rs. Rs.

Revenue from operations 2,00,000 2,50,000

Other income 50,000 40,000

Expenses 1,50,000 1,20,000

From the following particulars, prepare comparative income statement of Abdul Co. Ltd.

Particulars 2015-16
Rs. 2016-17
Rs.

Revenue from operations 3,00,000 3,60,000

Other income 1,00,000 60,000

Expenses 2,00,000 1,80,000

Income tax 30% 30%

What is working capital?

Part - C

Generic 3 - Answer All Question

Prepare common-size balance sheet of Maria Ltd. as on 31st March, 2018.

Particulars 31st March 2018

Rs.

I EQUITY AND LIABILITIES

Shareholders’ funds 4,00,000

Non-current liabilities 3,20,000

Current liabilities 80,000

Total 8,00,000

II ASSETS

Non-current assets 6,00,000

Current assets 2,00,000

Total 8,00,000

Explain the steps involved in preparing comparative statement

From the following particulars of Mani Ltd an Kani Ltd prepare a common-size income
statement for the year ended 31st March, 2019

Particulars Mani Ltd Kani Ltd

Rs. Rs.

Revenue from operations 2,00,000 2,50,000

Other income 30,000 25,000

Expenses 1,10,000 1,25,000

‘Financial statements are prepared based on the past data’. Explain how this is a limitation.

From the following particulars of Kumar Ltd, prepare a common-size income statement for
the year ended 31st March, 2018.

Particulars 2017-18

RS.

Revenue from operations 5,00,000

Other income 20,000

Expenses 3,00,000

Prepare common-size balance sheet of Sharmila Ltd. and Sangeetha Ltd. as on 31st March,
2019.

Particulars Sharmila Ltd Sangeetha Ltd

Rs. Rs.

I EQUITY AND LIABILITIES

Shareholders’ funds 5,00,000 11,00,000

Non-current liabilities 4,00,00 7,00,000

Current liabilities 1,00,000 2,00,000

Total 10,00,000 20,00,000

II ASSETS

Non-current assets 6,50,000 18,00,000

Current assets 3,50,000 2,00,000

Total 10,00,000 20,00,000

Part - D

Generic 5 - Answer All Question

From the following particulars, calculate the trend percentages of Babu Ltd.

Particulars Rs.in thousands

Year 1 Year 2 Year 3

I EQUITY AND LIABILITIES

1. Shareholders’ Fund 100 127 106

b) Reserves and surplus 30 30 45

2. Non-current liabilities

Long-term borrowings 70 77 84

3. Current liabilities

Trade payables 20 30 40

Total 220 264 275

II ASSETS

1. Non-current assets

a) Fixed assets 100 118 103

b) Non current investments 40 50 60

2. Current assets

Inventories 60 66 72

Cash and cash equivalents 20 20 40

20 30 40

Total 220 264 275

From the following particulars, calculate the Trend percentages of Kavitha Ltd.

Particulars Rs.in thousands

2015-16 2016-17 2017-18

Revenue from operations 100 125 150

Other income 20 25 30

Expenses 100 120 80

Income tax 30% 30% 30%

From the following particulars, calculate the trend percentages of Kumar Ltd

Particulars Rs.in thousands

2015-16 2016-17 2017-18

Revenue from operations 300 270 150

Other income 50 80 60

Expenses 250 200 125

Income tax % 40 40 40

From the following particulars of Neithal Ltd, calculate trend percentages.

Particulars Rs.in lakhs

2015-16 2016-17 2017-18

Revenue from operations 150 135 90

Other income 25 5 15

Expenses 125 75 50

Income tax 40% 40% 40%

From the following particulars, prepare comparative income statement of Arul Ltd.

Particulars 2015-16
Rs. 2016-17
Rs.

Revenue from operations 50,000 60,000

Other income 10,000 30,000

Expenses 40,000 50,000

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