- Following are the balance sheet of Alpha Ltd. As at March 31, 2016 and 2017. You are required to prepare comparative Balance sheet.
Solution –
2. Following are the Balance Sheets of Beta Ltd., as at March 31, 2016 and 2017.
Prepare a Comparative Balance Sheet.
Solution –
3. Prepare Comparative Statement of Profit and loss from the following information.
Solution –
Working Notes:
Calculation of Net Sales
Net Sales = cost of Good sold + Gross Profit – Sales Return
Net Sales (2016) = 80,000 + 30,000 +90,000 – 4,000
= 2, 16,000
Net Sales (2017) = 1,40,000+ 50,000 – 60,000 – 30,000 – 80,000
= 92,000
Calculation of Finance Cost
Finance Cost = Interest on short term loans + Interest on 10% Debentures
Finance Cost (2016) = 20,000 + 1,000
= 21,000
Finance Cost (2017) = 20,000 + 2,000
= 22,000
Calculation of Other Expenses
Other Expenses = Freight outward + Carriage Outward + Loss on sale of office car
Other Expenses (2016) = 10,000 +10,000 + 60,000
= 80,000
Other Expenses (2017) = 20,000 + 20,000 + 90,000
= 1,30,000
4. Prepare Comparative Statement of Profit and loss from the following information:
Solution –
Working Notes:
Calculation of Net Purchases
Net Purchases = Cash Purchases + Credit Purchases – Purchase Return
Net Sales (2016) = 1,20,000 + 1,50,000 – 4,000
= 2,66,000
Net Sales (2017) = 40,000 + 60,000 – 6,000
= 94,000
Calculation of Inventory Changes
Year 2016 = 30,000 – 45,000
= (15,000)
Year 2017 = 60,000 – 1,00,000
= (40,000)
Calculation of Finance cost
Finance Cost = Interest on Bank OD + Interest on Debentures
Finance cost (2016) = 5,000 + 20,000
= 25,000
Finance Cost (2017) = 30,000 + 10,000
= 40,000
Calculation of Other Expenses
Other Expenses = Freight Outward + Carriage Outward
Other Expenses (2016) = 10,000 + 20,000
= 30,000
Other Expenses (2017) = 30,000 + 10,000
40,000
5. Prepare a Common size statement of profit and loss of Shefali Ltd., with the help of following information:
Solution –
Working Notes:
Calculation of Other Expenses
Other Expenses = Indirect Expenses x % Gross Profit
Year 2016 = 6,00,000 x 50% x 25%
= 75,000
Year 2017 = 8,00,000 x 45 % x 25%
= 90,000
6. Prepare a Common Size balance Sheet from the following balance sheet of Aditya Ltd., and Anjali Ltd:
Solution –
