Analysis of Financial Statements — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Calculate Net Profit Ratio:
Sales = ₹ 10,00,000, Cost of goods sold = ₹ 4,20,000, Indirect expenses = ₹ 30,000, Administrative expenses = ₹ 1,00,000, Selling and Distribution expenses = ₹ 80,000, Interest on debentures shares = ₹ 40,000.

Calculate Current Ratio:
Debtors = ₹ 90,000, Creditors = ₹ 30,000, Bills receivables = ₹ 10,000, Bills payable = ₹ 12,000, Stock of goods = ₹ 40,000, Short-term loan = ₹ 40,000, Outstanding expenses = ₹ 14,000, Cash balance = ₹ 70,000, Machinery = ₹ 1,00,000, Current investments = ₹ 25,000, Non-current investments = ₹ 25,000, Loose tools = ₹ 15,000, Bank overdraft = ₹ 29,000.

From the following information prepare the cash flow statement :

Particulars	Amount (₹)
Opening Cash Balance	30,000
Closing Cash Balance	34,000
Decrease in Stock	16,000
Increase in Bills Payable	24,000
Sale of fixed Assets	60,000
Payments of long term Loan	1,00,000
Net Profit for the year	4,000

Convert following Balance Sheet into Vertical Balance Sheet

Balance Sheet as on 31/3/2019

Liabilities	Amount ₹	Assets	Amount ₹
Capital	50,000	Fixed Assets	60,000
Reserves	15,000	Investment	10,000
Loan	30,000	Current Assets	55,000
Current Liabilities	30,000
	1,25,000		1,25,000

Convert following Balance Sheet into Vertical Balance Sheet

Balance Sheet as on 31st March, 2020

Liabilities	Amount (₹)	Assets	Amount (₹)
Capital	80,000	Fixed Assets	75,000
Reserves and Surplus	20,000	Investment	20,000
12%Loan	24,000	Current Assets	44,000
Current Liabilities	15,000
	1,39,000		1,39,000

Shalini owes ₹ 26,000 to Anand. Anand draws a bill for ₹ 21,000 on Shalini for 3 months period and received the balance by a crossed cheque. The bill was duly accepted and returned to Anand. On the same day Anand endorsed Shalini’s acceptance to Vikram. On the due date Vikram informed Anand that Shalini dishonoured her acceptance and noting charges ₹ 280 were paid. Anand then drew a new bill for 1 month on Shalini including noting charges and interest ₹ 650. On the due date Shalini honoured her acceptance by cheque.
Give journal entries in the books of Anand and prepare Anand’s account in the books of Shalini.

Convert following Trading and Profit and Loss Account into vertical income statement

Trading and Profit and Loss A/c for year ended 31/3/2019

Particulars	Amount (₹)	Particulars	Amount (₹)
To Op. Stock	3,50,000	By Sales	11,00,000
To Purchases	7,00,000	By Closing Stock	2,00,000
To Wages	50,000
To Gross Profit c/d.	2,00,000
	13,00,000		13,00,000
To Office Exp.	1,00,000	By Gross Profit b/d.	2,00,000
To Selling Exp.	50,000
To Finance Exp.	20,000
To Net Profit c/d	30,000
	2,00,000		2,00,000

Explain : Features of Computerized Accounting System

Suman Ltd. issued equity shares of ₹ 10 each at a Premium of ₹ 3 per share, Payable as follows-
₹ 3 on application
₹ 5 on Allotment (including Premium)
₹ 2.50 on 1st call
₹ 2.50 on final call
One shareholder Mr. Ashok failed to pay Allotment money and 1st call money on 200 shares.
Directors forfeited his share after first call. While another shareholder Mr. Atul failed to pay
1st call and final call money on 100 shares and his shares were forfeited after final call. Show
Journal Entries for forfeiture of shares of Mr. Ashok & Mr, AtuI