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Accountancy · 2022 · 3 marks
CBSE 2022 · Region 5 · Set 1 · Q11
From the information extracted from the Statement of Profit and Loss prepare a Comparative Statement of Profit and Loss for the year ended 31st…
From the information extracted from the Statement of Profit and Loss prepare a Comparative Statement of Profit and Loss for the year ended 31st March, $\displaystyle 2021$
| Particulars | $\displaystyle 2020$-$\displaystyle 21$ (₹) | $\displaystyle 2019$-$\displaystyle 20$ (₹) |
| Revenue from operations | $\displaystyle 7,20,000$ | $\displaystyle 4,00,000$ |
| Expenses | $\displaystyle 5,00,000$ | $\displaystyle 2,00,000$ |
| Tax Rate @ $\displaystyle 50$% |
From the following Balance Sheet of Rohit Ltd., prepare a Common Size Balance Sheet : Balance Sheet of Rohit Ltd. as at 31st March, $\displaystyle 2021$
| Particulars | Note No. | 31st March, $\displaystyle 2021$ (₹) | 31st March, $\displaystyle 2020$ (₹) |
| I. Equity and Liabilities | |||
| 1. Shareholders' Funds | $\displaystyle 3,20,000$ | $\displaystyle 1,60,000$ | |
| 2. Current Liabilities | $\displaystyle 80,000$ | $\displaystyle 40,000$ | |
| Total | $\displaystyle 4,00,000$ | $\displaystyle 2,00,000$ | |
| II. Assets | |||
| 1. Non Current Assets | $\displaystyle 3,00,000$ | $\displaystyle 1,50,000$ | |
| 2. Current Assets | $\displaystyle 1,00,000$ | $\displaystyle 50,000$ | |
| Total | $\displaystyle 4,00,000$ | $\displaystyle 2,00,000$ |
Marking-scheme solution
Comparative Statement of Profit and Loss
for the year ended March $\displaystyle 31$, $\displaystyle 2021$
Particulars $\displaystyle 2019$–$\displaystyle 20$ $\displaystyle 2020$–$\displaystyle 21$ Absolute % of
(₹) (₹) Increase/ Increase/
Decrease Decrease
(₹)
I. Revenue from Operations $\displaystyle 4,00,000$ $\displaystyle 7,20,000$ $\displaystyle 3,20,000$ $\displaystyle 80$
II. Less : Expenses $\displaystyle 2,00,000$ $\displaystyle 5,00,000$ $\displaystyle 3,00,000$ $\displaystyle 150$
III. Profit before Tax (I – II) $\displaystyle 2,00,000$ $\displaystyle 2,20,000$ $\displaystyle 20,000$ $\displaystyle 10$
IV. Less : Tax @ $\displaystyle 50$% $\displaystyle 1,00,000$ $\displaystyle 1,10,000$ $\displaystyle 10,000$ $\displaystyle 10$
V. Profit after Tax (III – IV) $\displaystyle 1,00,000$ $\displaystyle 1,10,000$ $\displaystyle 10,000$ $\displaystyle 10$
From the following Balance Sheet of Rohit Ltd……….
Ans.
Common Size Balance Sheet
as on 31st March $\displaystyle 2020$ and $\displaystyle 2021$
Particulars $\displaystyle 31.03.2020$ $\displaystyle 31.03.2021$ % of % of
(₹) (₹) Total Total
Assets Assets
I. Equity and Liabilities:
1. Shareholders’ Funds $\displaystyle 1,60,000$ $\displaystyle 3,20,000$ $\displaystyle 80$ $\displaystyle 80$
2. Current Liabilities $\displaystyle 40,000$ $\displaystyle 80,000$ $\displaystyle 20$ $\displaystyle 20$
$\displaystyle 2,00,000$ $\displaystyle 4,00,000$ $\displaystyle 100$ $\displaystyle 100$
II. Assets:
1. Fixed Assets $\displaystyle 1,50,000$ $\displaystyle 3,00,000$ $\displaystyle 75$ $\displaystyle 75$
2. Current Assets $\displaystyle 50,000$ $\displaystyle 1,00,000$ $\displaystyle 25$ $\displaystyle 25$
$\displaystyle 2,00,000$ $\displaystyle 4,00,000$ $\displaystyle 100$ $\displaystyle 100$
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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.