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Accountancy · 2022 · 3 marks
CBSE 2022 · Region 2 · Set 1 · Q11
From the following information of Shruti Ltd, prepare Comparative Statement of Profit and Loss: 2020 21 2019 20 Particulars < < Revenue from…
From the following information of Shruti Ltd, prepare Comparative Statement of Profit and Loss : $\displaystyle 2020$ $\displaystyle 21$ $\displaystyle 2019$ $\displaystyle 20$ Particulars < < Revenue from operations $\displaystyle 15,00,000$ $\displaystyle 10,00,000$ Expenses $\displaystyle 3,00,000$ $\displaystyle 2,00,000$ Tax Rate $\displaystyle 30$%
From the following Balance Sheet of Avinash Ltd. as on 31st March, $\displaystyle 2021$, prepare a Comparative Balance Sheet : Balance Sheet of Avinash Ltd. as at 31st March, $\displaystyle 2021$ Note $\displaystyle 31.3.2021$ $\displaystyle 31.3.2020$ Particulars No. < < I Equity and Liabilities : $\displaystyle 7$ 1. Shareholders Funds Share Capital $\displaystyle 30,00,000$ $\displaystyle 20,00,000$ 2. Non-Current Liabilities Long-term Borrowings 3. Current Liabilities Trade Payables $\displaystyle 6,00,000$ $\displaystyle 5,00,000$ Total $\displaystyle 36,00,000$ $\displaystyle 25,00,000$ II Assets : 1. Non-Current Assets Fixed Assets $\displaystyle 24,00,000$ $\displaystyle 15,00,000$ 2. Current Assets Inventories $\displaystyle 12,00,000$ $\displaystyle 10,00,000$ Total $\displaystyle 36,00,000$ $\displaystyle 25,00,000$
Marking-scheme solution
Comparative statement of Profit & Loss for the years
ended 31st March, $\displaystyle 2020$ and $\displaystyle 2021$
$\displaystyle 2019$-$\displaystyle 20$ $\displaystyle 2020$-$\displaystyle 21$ Absolute
Particulars % Change
Change(₹)
(₹) (₹)
Revenue from operations $\displaystyle 10,00,000$ $\displaystyle 15,00,000$ $\displaystyle 5,00,000$ $\displaystyle 50$
Less expenses $\displaystyle 2,00,000$ $\displaystyle 3,00,000$ $\displaystyle 1,00,000$ $\displaystyle 50$
Profit before Tax $\displaystyle 8,00,000$ $\displaystyle 12,00,000$ $\displaystyle 4,00,000$ $\displaystyle 50$
Less : Tax $\displaystyle 30$% $\displaystyle 2,40,000$ $\displaystyle 3,60,000$ $\displaystyle 1,20,000$ $\displaystyle 50$
Profit after Tax $\displaystyle 5,60,000$ $\displaystyle 8,40,000$ $\displaystyle 2,80,000$ $\displaystyle 50$
Q. (b) From the following Balance Sheet of Avinash Ltd……….
Ans.
Avinash Ltd.
Comparative Balance Sheet as at 31st March, $\displaystyle 2020$ and $\displaystyle 2021$
31.$\displaystyle 3.2020$ $\displaystyle 31.3.2021$ Absolute Percentage
Particulars
Change(₹) Change
(₹) (₹)
(I) Equity and Liabilities
1. Shareholder’s funds $\displaystyle 20,00,000$ $\displaystyle 30,00,000$ $\displaystyle 10,00,000$ $\displaystyle 50$
2. Current Liabilities $\displaystyle 5,00,000$ $\displaystyle 6,00,000$ $\displaystyle 1,00,000$ $\displaystyle 20$
$\displaystyle 25,00,000$ $\displaystyle 36,00,000$ $\displaystyle 11,00,000$ $\displaystyle 44$
(II)
Assets
1. Non-Current Assets $\displaystyle 15,00,000$ $\displaystyle 24,00,000$ $\displaystyle 9,00,000$ $\displaystyle 60$
2. Current Assets $\displaystyle 10,00,000$ $\displaystyle 12,00,000$ $\displaystyle 2,00,000$ $\displaystyle 20$
$\displaystyle 25,00,000$ $\displaystyle 36,00,000$ $\displaystyle 11,00,000$ $\displaystyle 44$
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CBSE Class 12 Accountancy past-paper question from the 2022 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.