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Accountancy · 2024 · 4 marks
CBSE 2024 · Region 4 · Set 3 · Q33
Prepare a Common Size Balance Sheet of X Ltd. from the following information : Balance Sheet ofX Ltd. as on $\displaystyle 315$* Mareh, $\displaystyle 2023$ Particulars Note $\displaystyle 31.3.2023$ $\displaystyle 31.3.2022$ No. c) c) I. Equity and Liabilities : 1. Shareholders' funds (a) Equity Share Capital $\displaystyle 30,00,000$ $\displaystyle 15,00,000$ (b) Reserves and Surplus $\displaystyle 10,00,000$ $\displaystyle 5,00,000$ 2. Non-current liabilities $\displaystyle 20,00,000$ $\displaystyle 20,00,000$ 3. Current liabilities $\displaystyle 20,00,000$ $\displaystyle 10,00,000$ Total $\displaystyle 80,00,000$ $\displaystyle 50,00,000$ II. Assets : 1. Non-current assets $\displaystyle 40,00,000$ $\displaystyle 30,00,000$ 2. Current assets (a) InventorIes $\displaystyle 40,00,000$ $\displaystyle 20,00,000$ Total $\displaystyle 80,00,000$ $\displaystyle 50,00,000$ORFrom the following information prepare a Comparative Statement of Profit and Loss of Y Ltd : Particulars $\displaystyle 31.3.2023$ $\displaystyle 31.3.2022$ Revenue from operations (?) $\displaystyle 40,00,000$ $\displaystyle 20,00,000$ Purchase of stock in trade (?) $\displaystyle 24,00,000$ $\displaystyle 12,00,000$ Change in inventories (% of purchase $\displaystyle 25$% $\displaystyle 20$% of stock in trade) Other expenses (Q) $\displaystyle 2,00,000$ $\displaystyle 1,60,000$ Tax rate $\displaystyle 40$% $\displaystyle 40$%
OR
From the following information prepare a Comparative Statement of Profit and Loss of Y Ltd : Particulars $\displaystyle 31.3.2023$ $\displaystyle 31.3.2022$ Revenue from operations (?) $\displaystyle 40,00,000$ $\displaystyle 20,00,000$ Purchase of stock in trade (?) $\displaystyle 24,00,000$ $\displaystyle 12,00,000$ Change in inventories (% of purchase $\displaystyle 25$% $\displaystyle 20$% of stock in trade) Other expenses (Q) $\displaystyle 2,00,000$ $\displaystyle 1,60,000$ Tax rate $\displaystyle 40$% $\displaystyle 40$%Marking-scheme solution
Common Size Balance Sheet of X Ltd. as at $\displaystyle 31.3.2022$ and $\displaystyle 31.3.2023$
Par-culars Not Absolute Absolute % of % of
e Amount Amount Balance Balance
No. $\displaystyle 31.3.2022$ $\displaystyle 31.3.2023$ Sheet Total Sheet Total
₹ ₹ $\displaystyle 31.3.2022$ $\displaystyle 31.3.2023$
I. Equity and Liabili-es:
1. Shareholders’ Funds
(a)
Equity Share Capital $\displaystyle 15,00,000$ $\displaystyle 30,00,000$ $\displaystyle 30$ $\displaystyle 37.5$
(b)
Reserves and Surplus $\displaystyle 5,00,000$ $\displaystyle 10,00,000$ $\displaystyle 10$ $\displaystyle 12.5$
2. Non-current liabili-es $\displaystyle 20,00,000$ $\displaystyle 20,00,000$ $\displaystyle 40$ $\displaystyle 25$
3. Current Liabili-es $\displaystyle 10,00,000$ $\displaystyle 20,00,000$ $\displaystyle 20$ $\displaystyle 25$
TOTAL $\displaystyle 50,00,000$ $\displaystyle 80,00,000$ $\displaystyle 100$ $\displaystyle 100$
II. Assets:
1.Non-current Assets $\displaystyle 30,00,000$ $\displaystyle 40,00,000$ $\displaystyle 60$ $\displaystyle 50$
2. Current Assets
(a)
Inventories $\displaystyle 20,00,000$ $\displaystyle 40,00,000$ $\displaystyle 40$ $\displaystyle 50$
TOTAL $\displaystyle 50,00,000$ $\displaystyle 80,00,000$ $\displaystyle 100$ $\displaystyle 100$
Or
Q.(b) From the following………………..
Ans.
Compara-ve Statement of Profit and Loss of Y Ltd.
for the year ended $\displaystyle 31.3.2023$
Absolute %
Par-culars Not $\displaystyle 31.3.2022$ $\displaystyle 31.3.2023$
e ₹ ₹ Increase/Decre Increase/
ase Decrease
No.
₹
I. Revenue from $\displaystyle 20,00,000$ $\displaystyle 40,00,000$ $\displaystyle 20,00,000$ $\displaystyle 100$
Opera-ons
II. EXPENSES
Purchase of Stock in trade $\displaystyle 12,00,000$ $\displaystyle 24,00,000$ $\displaystyle 12,00,000$ $\displaystyle 100$
Change in inventories $\displaystyle 2,40,000$ $\displaystyle 6,00,000$ $\displaystyle 3,60,000$ $\displaystyle 150$
Other expenses $\displaystyle 1,60,000$ $\displaystyle 2,00,000$ $\displaystyle 40,000$ $\displaystyle 25$
TOTAL $\displaystyle 16,00,000$ $\displaystyle 32,00,000$ $\displaystyle 16,00,000$ $\displaystyle 100$
III. Profit before Tax (I-II) $\displaystyle 4,00,000$ $\displaystyle 8,00,000$ $\displaystyle 4,00,000$ $\displaystyle 100$
IV. Tax@$\displaystyle 40$% $\displaystyle 1,60,000$ $\displaystyle 3,20,000$ $\displaystyle 1,60,000$ $\displaystyle 100$
V. Profit aKer Tax $\displaystyle 2,40,000$ $\displaystyle 4,80,000$ $\displaystyle 2,40,000$ $\displaystyle 100$
(III-IV)
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CBSE Class 12 Accountancy past-paper question from the 2024board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.