SUNIL PANDA COMMERCE CLASSES (SPCC)

ACCOUNTS TERM 2
DAY 1 HOME WORK FOR PRACTICE
Q.1) From the following statement of profit and loss of the Sakhi Ltd. for the year ended 31st march
2018, prepare comparative statement of profit and loss.

Particulars 2016-17 2017-18

Revenue from operations 20,00,000 25,00,000
Expenses:
a) Employee benefit expenses: 7,00,000 10,00,000
b) Other expenses 3,00,000 2,00,000
Rate of tax 40%
Q.2) Following information is extracted from the statement of profit and loss of crypto finance ltd.
for the years ended 31-3-2017 and 31-3-2018 fill in the missing figures.

Particulars 2016-17 2017-18 Absolute % change

change
Revenue from operations 10,00,000 ? 2,00,000 20%
Add other income ? 60,000 ? 20%
Total revenue ? 12,60,000 ? 20%
Less employee benefit expenses 50,000 60,000 10,000 ?
Profit before tax 10,00,000 12,00,000 2,00,000 ?
Less tax 50% 5,00,000 6,00,000 1,00,000 ?
Profit after tax 5,00,000 6,00,000 1,00,000 20%

Q.3) Prepare the common-size income statement from the following information:

Particulars 31-3-2011 31-3-2012

Revenue from operations 1,00,000 1,00,000
Cost of revenue from operations 70% of revenue 74.8% of revenue
from operation from operation
Operating expenses 8,000 9,800
Income tax rate 50% 50%
Q.4) From the following balance sheets of Vinayak Ltd. as at 31st march 2019, prepare a comparative
balance sheet:

Particulars Note 31-3-2019 31-3-2018

no.
I. Equity and Liabilities
1. Shareholder’s Funds
(a) Share Capital 21,00,000 20,00,000
(b) Reserves and Surplus 2,30,000 2,00,000
2. Non-current Liabilities
Long-term Borrowing 5,60,000 2,00,000
3. Current Liabilities
(a) trade payables 2,80,000 1,00,000
Total 31,70,000 25,00,000
II. Assets
1. Non-current Assets
a) Fixed assets
(i) Tangible assets 21,00,000 20,00,000
(ii) Intangible assets 3,00,000 2,00,000
2. Current Assets
(a) inventories 5,60,000 2,00,000
(b) Cash and Cash Equivalents 2,10,000 1,00,000
Total 31,70,000 25,00,000