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Question

From the following Statement of Profit and Loss of Star Ltd., for the year ended 31st March, 2015 and 2016, prepare a Common-size statement:

Particulars Note No. 2015-16
2014-15
Revenue from Operations ₹ 25,00,000 ₹ 20,00,000
Employee Benefit Expenses ₹ 10,00,000 ₹ 7,00,000
Other Expenses ₹ 2,00,000 ₹ 3,00,000
Tax Rate
40%
40%

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Solution

Common Size Statement of Profit and Loss
for the year ended March 31, 2015 and 2016
Particulars
Absolute Amount
Percentage of Revenue from Operations
2014-15
(Rs)
2015-16
(Rs)
2014-15
(%)
2015-16
(%)
I. Revenue from Operations
20,00,000
25,00,000
100
100
II. Other Income
Total Revenue (I + II)
20,00,000
25,00,000
100
100
Less: Expenses:
Employees Benefit cost
7,00,000
10,00,000
35
40
Other Expenses
3,00,000
2,00,000
15
8
Profit before Tax
10,00,000
13,00,000
50
52
Less: Tax @ 40%
4,00,000
5,20,000
20
20.80
Profit after Tax
6,00,000
7,80,000
30
31.20

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Q.

From the following Balance Sheet as at 31st March, 2019 and Statement of Profit and Loss for the year ended 31st March, 2019 of RSB Ltd. and additional information, prepare Cash Flow Statement:

Particulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. EQUITY AND LIABILITIES
1. Shareholders' Funds
(a) Share Capital

7,50,000

5,00,000

(b) Reserves and Surplus

1

9,50,000

3,00,000

2. Non-Current Liabilities
Long-term Borrowings (5% Debentures)

7,00,000

4,00,000

3. Current Liabilities
(a) Trade Payables

1,10,000

90,000

(b) Other Current Liabilities

2

39,000

25,000

(c) Short-term Provisions (Provision for Tax)

2,60,000

2,25,000

Total

28,09,000

15,40,000

II. ASSETS
1. Non-Current Assets
(a) Fixed Assets – Tangible

3

6,85,000

7,45,000

(b) Non-current Investments

7,50,000

2,50,000

2. Current Assets
(a) Current Investments

6,74,000

95,000

(b) Inventories

1,00,000

2,00,000

(c) Trade Receivables

4,00,000

1,50,000

(d) Cash and Cash Equivalents

2,00,000

1,00,000

Total

28,09,000

15,40,000

STATEMENT OF PROFIT AND LOSS
for the year ended 31st March, 2019

Particulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. Revenue from Operations

4

40,00,000

35,00,000

II. Other Income

5

35,000

30,000

III. Total Revenue (I + II)

40,35,000

35,30,000

IV. Expenses:
Purchases of Stock-in-Trade

27,00,000

24,70,000

Change in Inventories of Stock-in-Trade

6

1,00,000

50,000

Finance Cost

27,500

20,000

Depreciation

40,000

45,000

Other Expenses

22,500

20,000

Total Expenses

28,90,000

26,05,000

V. Profit before Tax (III – IV)

11,45,000

9,25,000

VI. Less: Tax

3,45,000

2,25,000

VII. Profit after Tax (V – VI)

8,00,000

7,00,000

Notes to Accounts

Particular

31st March 2019

(₹)

31st March 2018

(₹)

1.

Reserves and Surplus
Debenture Redemption Reserve

1,00,000

1,00,000

Surplus, i.e., Balance in Statement of Profit and Loss

8,50,000

2,00,000

9,50,000

3,00,000

2.

Other Current Liabilities
Interest on Debentures

35,000

20,000

Outstanding Expenses

4,000

5,000

39,000

25,000

3.

Fixed Assets–Tangible
Cost

8,90,000

9,90,000

Less: Accumulated Depreciation

2,05,000

2,45,000

6,85,000

7,45,000

4.

Revenue from Operations
Sales

42,00,000

35,75,000

Less: Sales Return

2,00,000

75,000

40,00,000

35,00,000

5.

Other Income
Interest on Deposits

15,000

12,500

Dividend on Investments

10,000

17,500

Gain (Profit) on Sale of Fixed Assets

10,000

35,000

30,000

6.

Change in Inventories of Stock-in-Trade
Opening Stock

2,00,000

2,50,000

Less: Closing Stock

1,00,000

2,00,000

1,00,000

50,000

Additional Information:

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