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12th Accountancy Weekly Test - 3 ( Financial Statement Analysis )

St. Britto Hr. Sec. School - Madurai

12th Accountancy Weekly Test - 3 ( Financial Statement Analysis )-Aug 2020

Time : 1.15 Hours

Part - A

Multiple Choice Question - Answer All Question

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

Which of the following statements is not true?

Notes and schedules also form part of financial statements
The tools of financial statement analysis include common-size statement
Trend analysis refers to the study of movement of figures for one year
The common–size statements show the relationship of various items with somecommon base, expressed as percentage of the common base

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

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

The term ‘fund’ refers to

Current liabilities
Working capital
Fixed assets
Non-current assets

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

The financial statements do not exhibit

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

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%

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 %

Part - B

Generic 2 - Answer All Question

List the tools of financial statement analysis.

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

When is trend analysis preferred to other tools?

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%

Part - C

Generic 5 - Answer All Question

Prepare common-size statement of financial position for the following particulars of Rani Ltd.

Particulars 31st March, 2016 31st March, 2017

Rs. Rs.

I EQUITY AND LIABILITIES

Shareholders’ Fund 5,40,000 6,00,000

Non-current liabilities 2,70,000 2,70,000

Current liabilities 90,000 1,50,000

Total 9,00,000 10,00,000

II ASSETS

Non-current assets 7,20,000 8,00,000

Current assets 1,80,000 2,00,000

Total 9,00,000 10,00,000

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, 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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