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Accountancy · 2022 · 3 marks
CBSE 2022 · Region 1 · Set 2 · Q11
Prepare a 'Common size statement of Profit and Loss' for the year ended 31 ' March, 2021 from the following informations: Particulars 2020-21 2019-20…
Prepare a 'Common size statement of Profit and Loss' for the year ended $\displaystyle 31$*' March, $\displaystyle 2021$ from the following informations : Particulars $\displaystyle 2020$-$\displaystyle 21$ $\displaystyle 2019$-$\displaystyle 20$ a) ($\displaystyle 2$) Revenue from Operations $\displaystyle 40,00,000$ $\displaystyle 20,00,000$ Purchase of Stock in trade $\displaystyle 4,00,000$ $\displaystyle 1,00,000$ Other expenses $\displaystyle 6,00,000$ $\displaystyle 3,00,000$ Tax Rate $\displaystyle 50$%
From the following Balance Sheet of Ganesh Ltd. as at March $\displaystyle 31$, $\displaystyle 2021$, prepare a Comparative Balance Sheet : Particulars Note $\displaystyle 31.03.2021$ $\displaystyle 31.03.2020$ No. ($\displaystyle 0$ <$\displaystyle 0$ I. Equity and Liabilities : 1. Shareholder's Funds : Share Capital $\displaystyle 15,00,000$ $\displaystyle 12,00,000$ 2. NonCurrent Liabilities : Long term borrowings $\displaystyle 10,00,000$ $\displaystyle 8,00,000$ Total $\displaystyle 25,00,000$ $\displaystyle 20,00,000$ II. Assets : 1. Non Cunent Assets : Fixed Assets Tangible Assets $\displaystyle 15,00,000$ $\displaystyle 10,00,000$ 2. Current Assets $\displaystyle 10,00,000$ $\displaystyle 10,00,000$ Total $\displaystyle 25,00,000$ $\displaystyle 20,00,000$
Marking-scheme solution
Common Size Statement of Profit and Loss
for the years ended March $\displaystyle 31$, $\displaystyle 2020$ and $\displaystyle 2021$
Particulars Note Absolute Absolute % of % of
No Amounts Amounts Revenue Revenue
from from
31st 31st
Operati Operation
March, March,
ons 31st
$\displaystyle 2020$ $\displaystyle 2021$ 31st
March,
(₹) (₹) March,
$\displaystyle 2020$
$\displaystyle 2021$
Revenue from $\displaystyle 20,00,000$ $\displaystyle 40,00,000$ $\displaystyle 100$ $\displaystyle 100$
Operations
Less : Expenses
Purchase of Stock- $\displaystyle 1,00,000$ $\displaystyle 4,00,000$ $\displaystyle 5$ $\displaystyle 10$
in-Trade
Other Expenses
$\displaystyle 3,00,000$ $\displaystyle 6,00,000$ $\displaystyle 15$ $\displaystyle 15$
Total expenses $\displaystyle 4,00,000$ $\displaystyle 10,00,000$ $\displaystyle 20$ $\displaystyle 25$
Profit before tax $\displaystyle 16,00,000$ $\displaystyle 30,00,000$ $\displaystyle 80$ $\displaystyle 75$
Less : Tax @ $\displaystyle 50$% ($\displaystyle 8,00,000$) ($\displaystyle 15,00,00$ $\displaystyle 40$ $\displaystyle 37.5$
0)
Profit after Tax $\displaystyle 8,00,000$ $\displaystyle 15,00,000$ $\displaystyle 40$ $\displaystyle 37.5$
Q. From the following Balance Sheet of Ganesh Ltd……
Ans
Comparative Balance Sheet
for the years ended on March $\displaystyle 31$, $\displaystyle 2020$ and $\displaystyle 2021$
Particulars Not $\displaystyle 2019$–$\displaystyle 20$ $\displaystyle 2020$–$\displaystyle 21$ Absolute %
e (₹) (₹) Change
No Change
I. Equity and Liabilities
1.Shareholder’s Fund $\displaystyle 12,00,000$ $\displaystyle 15,00,000$ $\displaystyle 3,00,000$ $\displaystyle 25$
2.Non-Current
$\displaystyle 8,00,000$ $\displaystyle 10,00,000$ $\displaystyle 2,00,000$ $\displaystyle 25$
Liabilities
Total $\displaystyle 20,00,000$ $\displaystyle 25,00,000$ $\displaystyle 5,00,000$ $\displaystyle 25$
II. Assets
1.Non-Current Assets:
Fixed Assets
Tangible Assets $\displaystyle 10,00,000$ $\displaystyle 15,00,000$ $\displaystyle 5,00,000$ $\displaystyle 50$
2. Current Assets $\displaystyle 10,00,000$ $\displaystyle 10,00,000$ - -
Total $\displaystyle 20,00,000$ $\displaystyle 25,00,000$ $\displaystyle 5,00,000$ $\displaystyle 25$
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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.