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Accountancy · 2024 · 4 marks
CBSE 2024 · Region 3 · Set 2 · Q33
From the following Balance Sheet of Hira Ltd. as at 31st March, 2023, prepare Comparative Balance Sheet: Balance Sheet of Hira Ltd. as at 31st March,…
From the following Balance Sheet of Hira Ltd. as at 31st March, $\displaystyle 2023$, prepare Comparative Balance Sheet :
Balance Sheet of Hira Ltd. as at 31st March, $\displaystyle 2023$
| Particulars | Note no. | $\displaystyle 31.3.2023$ (₹) | $\displaystyle 31.3.2022$ (₹) |
| I – Equity and Liabilities : | |||
| 1. Shareholders' Funds | |||
| (a) Share Capital | $\displaystyle 15,00,000$ | $\displaystyle 12,00,000$ | |
| 2. Non-Current Liabilities | |||
| (a) Long-term Borrowings | $\displaystyle 10,00,000$ | $\displaystyle 5,00,000$ | |
| 3. Current Liabilities | |||
| (a) Trade Payables | $\displaystyle 1,00,000$ | $\displaystyle 3,00,000$ | |
| Total | $\displaystyle 26,00,000$ | $\displaystyle 20,00,000$ | |
| II – Assets : | |||
| 1. Non-Current Assets | |||
| (a) Fixed Assets/Property, Plant and Equipment and | |||
| Intangible Assets | $\displaystyle 20,00,000$ | $\displaystyle 15,00,000$ | |
| 2. Current Assets | |||
| (a) Inventories | $\displaystyle 1,50,000$ | $\displaystyle 1,00,000$ | |
| (b) Trade Receivables | $\displaystyle 4,50,000$ | $\displaystyle 4,00,000$ | |
| Total | $\displaystyle 26,00,000$ | $\displaystyle 20,00,000$ |
From the following information of NK Ltd., prepare a Common Size Statement of Profit and Loss for the years ended 31st March, $\displaystyle 2022$ and 31st March, $\displaystyle 2023$ :
| Particulars | $\displaystyle 31.3.2023$ | $\displaystyle 31.3.2022$ |
| Revenue from Operations (₹) | $\displaystyle 25,00,000$ | $\displaystyle 20,00,000$ |
| Cost of Materials Consumed (₹) | $\displaystyle 8,00,000$ | $\displaystyle 6,00,000$ |
| Employee Benefit Expenses (₹) | $\displaystyle 4,00,000$ | $\displaystyle 4,00,000$ |
| Income Tax Rate % | $\displaystyle 20$ | $\displaystyle 30$ |
Marking-scheme solution
Comparative Balance Sheet as at 31st March,$\displaystyle 2023$
Particulars $\displaystyle 31.3.2022$ $\displaystyle 31.3.2023$ Absolute Change % Change
₹ ₹ ₹
I. EQUITY AND LIABILITIES
1. Shareholders Funds
(a)
Share Capital $\displaystyle 12,00,000$ $\displaystyle 15,00,000$ $\displaystyle 3,00,000$ $\displaystyle 25$
2. Non-Current Liabilities
(a)
Long Term Borrowings $\displaystyle 5,00,000$ $\displaystyle 10,00,000$ $\displaystyle 5,00,000$ $\displaystyle 100$
3. Current Liabilities
(a)
Trade Payables $\displaystyle 3,00,000$ $\displaystyle 1,00,000$ ($\displaystyle 2,00,000$) ($\displaystyle 66.7$)
TOTAL $\displaystyle 20,00,000$ $\displaystyle 26,00,000$ $\displaystyle 6,00,000$ $\displaystyle 30$
II. ASSETS
1. Non-Current Assets
(a)
Fixed Assets/Property,
Plant & Equipment and
Intangible Assets $\displaystyle 15,00,000$ $\displaystyle 20,00,000$ $\displaystyle 5,00,000$ $\displaystyle 33.3$
2. Current Assets
(a)
Inventories $\displaystyle 1,00,000$ $\displaystyle 1,50,000$ $\displaystyle 50,000$ $\displaystyle 50$
Trade Receivables $\displaystyle 4,00,000$ $\displaystyle 4,50,000$ $\displaystyle 50,000$ $\displaystyle 12.5$
TOTAL $\displaystyle 20,00,000$ $\displaystyle 26,00,000$ $\displaystyle 6,00,000$ $\displaystyle 30$
Q. From the following information of NK Ltd. …………………..
Ans.
Common Size Income Statement for the years ended 31st March $\displaystyle 2022$ and 31st March $\displaystyle 2023$
Particulars Absolute Absolute % of % of
Amounts Amounts Revenue Revenue
31.$\displaystyle 3.2022$ $\displaystyle 31.3.2023$ from from
₹ ₹ Operations Operations
31.$\displaystyle 3.2022$ $\displaystyle 31.3.2023$
I. INCOME
Revenue from Operations $\displaystyle 20,00,000$ $\displaystyle 25,00,000$ $\displaystyle 100$ $\displaystyle 100$
TOTAL REVENUE $\displaystyle 20,00,000$ $\displaystyle 25,00,000$ $\displaystyle 100$ $\displaystyle 100$
II. EXPENSES
Cost of Materials Consumed $\displaystyle 6,00,000$ $\displaystyle 8,00,000$ $\displaystyle 30$ $\displaystyle 32$
Employee Benefit Expenses $\displaystyle 4,00,000$ $\displaystyle 4,00,000$ $\displaystyle 20$ $\displaystyle 16$
TOTAL EXPENSES $\displaystyle 10,00,000$ $\displaystyle 12,00,000$ $\displaystyle 50$ $\displaystyle 48$
III. Profit Before Tax (I-II) $\displaystyle 10,00,000$ $\displaystyle 13,00,000$ $\displaystyle 50$ $\displaystyle 52$
IV. Less Tax $\displaystyle 3,00,000$ $\displaystyle 2,60,000$ $\displaystyle 15$ $\displaystyle 10.4$
V. Profit After Tax (III-IV) $\displaystyle 7,00,000$ $\displaystyle 10,40,000$ $\displaystyle 35$ $\displaystyle 41.6$
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CBSE Class 12 Accountancy past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.