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Accountancy · 2022 · 3 marks
CBSE 2022 · Region 3 · Set 3 · Q11
From the following Statement of Profit and Loss of GG Ltd., prepare a 'Common Size Statement of Profit and Loss' as on 31.3.2021 and 31.3.2022:…
From the following Statement of Profit and Loss of GG Ltd., prepare a 'Common Size Statement of Profit and Loss' as on $\displaystyle 31.3.2021$ and $\displaystyle 31.3.2022$ : $\displaystyle 2021$-$\displaystyle 22$ $\displaystyle 2020$-$\displaystyle 21$ Particulars ($\displaystyle 0$) ($\displaystyle 0$ Revenue from operation $\displaystyle 20,00,000$ $\displaystyle 10,00,000$ Other Income $\displaystyle 2,00,000$ $\displaystyle 1,00,000$ Expenses $\displaystyle 15,00,000$ $\displaystyle 8,00,000$ Tax Rate $\displaystyle 50$%
From the following Balance Sheet of CC Ltd., prepare a 'Comparative Balance Sheet as at $\displaystyle 31$ March, $\displaystyle 2022$ : Particulars $\displaystyle 31.3.2022$ $\displaystyle 31.3.2021$ ($\displaystyle 0$ ($\displaystyle 2$) I. EQUITY AND LIABILITIES : 1. Shareholders Funds : (a) Share Capital $\displaystyle 6,00,000$ $\displaystyle 3,00,000$ (b) Reserve and Surplus $\displaystyle 2,00,000$ $\displaystyle 1,00,000$ 2. Non-Current Liabilities : Longterm Borrowings $\displaystyle 4,00,000$ $\displaystyle 2,00,000$ 3. Current Liabilities $\displaystyle 3,00,000$ $\displaystyle 1,50,000$ Total : $\displaystyle 15,00,000$ $\displaystyle 7,50,000$ II. ASSETS : 1. NonCurrent Assets : Fixed Assets $\displaystyle 8,00,000$ $\displaystyle 4,00,000$ 2. Current Assets $\displaystyle 7,00,000$ $\displaystyle 3,50,000$ Total : $\displaystyle 15,00,000$ $\displaystyle 7,50,000$
Marking-scheme solution
Common-size Statement of Profit and Loss of GG Ltd.
for the years ended $\displaystyle 31.3.2021$ and $\displaystyle 31.3.2022$
Particulars $\displaystyle 2020$– $\displaystyle 2021$– % of Revenue from
$\displaystyle 2021$ $\displaystyle 2022$ Operation
(₹) (₹) $\displaystyle 31.3.2021$ $\displaystyle 31.3.2022$
Revenue from Operations $\displaystyle 10,00,000$ $\displaystyle 20,00,000$ $\displaystyle 100$ $\displaystyle 100$
Other Income $\displaystyle 1,00,000$ $\displaystyle 2,00,000$ $\displaystyle 10$ $\displaystyle 10$
Total Income $\displaystyle 11,00,000$ $\displaystyle 22,00,000$ $\displaystyle 110$ $\displaystyle 110$
Less : Expenses $\displaystyle 8,00,000$ $\displaystyle 15,00,000$ $\displaystyle 80$ $\displaystyle 75$
Profit before Tax $\displaystyle 3,00,000$ $\displaystyle 7,00,000$ $\displaystyle 30$ $\displaystyle 35$
Less : Tax @ $\displaystyle 50$% $\displaystyle 1,50,000$ $\displaystyle 3,50,000$ $\displaystyle 15$ $\displaystyle 17$·$\displaystyle 5$
Profit after Tax $\displaystyle 1,50,000$ $\displaystyle 3,50,000$ $\displaystyle 15$ $\displaystyle 17$·$\displaystyle 5$
Or
Q. From the following Balance Sheet…………
Ans.
Comparative Balance Sheet of CC Ltd. as at $\displaystyle 31.3.2021$ and $\displaystyle 31.3.2022$
Particulars $\displaystyle 31.3.2021$ $\displaystyle 31.3.2022$ Absolute % of
(₹) (₹) Increase/ Increase/
Decrease Decrease
(₹)
I. Equity and Liabilities :
1. Shareholders’ Fund :
(a)
Share Capital $\displaystyle 3,00,000$ $\displaystyle 6,00,000$ $\displaystyle 3,00,000$ $\displaystyle 100$
(b)
Reserve and Surplus $\displaystyle 1,00,000$ $\displaystyle 2,00,000$ $\displaystyle 1,00,000$ $\displaystyle 100$
2. Non-current Liabilities :
Long-term Borrowings $\displaystyle 2,00,000$ $\displaystyle 4,00,000$ $\displaystyle 2,00,000$ $\displaystyle 100$
3. Current Liabilities $\displaystyle 1,50,000$ $\displaystyle 3,00,000$ $\displaystyle 1,50,000$ $\displaystyle 100$
Total $\displaystyle 7,50,000$ $\displaystyle 15,00,000$ $\displaystyle 7,50,000$ $\displaystyle 100$
II. Assets :
1. Non-Current Assets :
Fixed Assets $\displaystyle 4,00,000$ $\displaystyle 8,00,000$ $\displaystyle 4,00,000$ $\displaystyle 100$
2. Current Assets $\displaystyle 3,50,000$ $\displaystyle 7,00,000$ $\displaystyle 3,50,000$ $\displaystyle 100$
Total $\displaystyle 7,50,000$ $\displaystyle 15,00,000$ $\displaystyle 7,50,000$ $\displaystyle 100$
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