Important Questions of Class 12 Accountancy Analysis of Financial Statements
Question 1:
Which of the following is not a limitation of ‘Analysis of Financial Statements’?
(A) It is just a study of the reports of the company.
(B) It does not consider price level changes.
(C) It ascertains the relative importance of different components of the financial position of the firm.
(D) It may be misleading without the knowledge of the changes in accounting procedures followed by a firm.
Answer
(C) It ascertains the relative importance of different components of the financial position of the firm.
Important Questions of Class 12 Accountancy Analysis of Financial Statements
Question 2:
From the given Balance Sheet of Moonlight Ltd., prepare a Common Size Balance Sheet:
Balance Sheet of Moonlight Ltd. as at 31st March, 2023
| Particulars | 31.03.2023 (₹) | 31.03.2022 (₹) |
|---|---|---|
| I – Equity and Liabilities: | ||
| 1. Shareholders’ Funds | ||
| (a) Share Capital | 12,00,000 | 5,00,000 |
| 2. Non-Current Liabilities | ||
| (a) Long-term Borrowings | 2,00,000 | 3,00,000 |
| 3. Current Liabilities | ||
| (a) Trade Payables | 6,00,000 | 2,00,000 |
| Total | 20,00,000 | 10,00,000 |
| II – Assets: | ||
| 1. Non-Current Assets | ||
| (a) Fixed Assets/Property, Plant and Equipment and Intangible Assets | 14,00,000 | 7,00,000 |
| 2. Current Assets | ||
| (a) Trade Receivable | 4,00,000 | 2,50,000 |
| (b) Inventories | 2,00,000 | 50,000 |
| Total | 20,00,000 | 10,00,000 |
Important Questions of Class 12 Accountancy Analysis of Financial Statements
Question 3:
From the following particulars of Accent Ltd., prepare a Comparative Statement of Profit and Loss for the year ended 31st March, 2023:
| Particulars | Note No. | 2022 – 23 (₹) | 2021 – 22 (₹) |
|---|---|---|---|
| Revenue from operations | 25,00,000 | 20,00,000 | |
| Employee benefit expenses | 5,00,000 | 4,00,000 | |
| Other expenses | 2,50,000 | 2,00,000 | |
| Tax rate 50% |
Important Questions of Class 12 Accountancy Analysis of Financial Statements
