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Comparative Statements

The document provides a worksheet for preparing comparative financial statements for Royal Industries for the years 2018 and 2017. It includes comparative balance sheets, profit and loss statements, and calculations of percentage changes in various financial metrics. Key figures such as revenue, expenses, and profits after tax for both years are summarized.

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53 views2 pages

Comparative Statements

The document provides a worksheet for preparing comparative financial statements for Royal Industries for the years 2018 and 2017. It includes comparative balance sheets, profit and loss statements, and calculations of percentage changes in various financial metrics. Key figures such as revenue, expenses, and profits after tax for both years are summarized.

Uploaded by

freefireidraghav
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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COMPARATIVE STATEMENTS

WORKSHEET

Q1) From the following Balance Sheets of Royal Industries as at 31st March,
2018 and 2017, prepare a comparative Balance Sheet:
I. EQUITY AND LIABILITIES: 2018 2017
1. Shareholder's Funds:
(a) Share Capital 800000 500000
(b) Reserves and Surplus 100000 100000

2. Non-Current Liabilities
Long term Borrowings 4.00,000 3,00,000

3. Current Liabilities
Short term Borrowings 200000 100000
15,00,000 10,00,000
IL. ASSETS:
1. Non-Current Assets 600000 400000
2. Current Assets:
3,00,000 2,00,000
(a) Inventories 3,00,000 2,00,000
(b) Trade Receivables 4,00,000 3,00,000
(c)Cash and Bank Balance 2 lakh 1 lakh
1500000 100000

[Ans. Percentage Change in Share Capital 60.00; Reserves & Surplus Nil; Non
Current Liabilities 33.33; Current Liabilities 100.00; Non Current Assets 50.00,
Inventories 50.00; Trade Receivables 33.33; Cash and Bank Balance 100.00.]

Q2)From the following details, make out a Comparative Statement of Profit and Loss:

2018 2017
Revenue from Operations 1500000 1200000
Expenses 805000 700000
Other Incomes 40000 20000
Provision for Tax 280000 200000
[Ans. Profit After Tax 2018 Rs4,55,000; 2017 3,20,000.]

Q.3) Prepare a Comparative Statement of Profit & Loss from the following:
2018 2017
Revenue from Operations12,50,00 10,00,000
Costof MaterialConsumed7,20,000 6,00,000
Other Expenses 38,000 40,000
Interest on investments @ Rs50,000 each year.

[Ans. Profit before Tax 2018 R5,42,000; 2017 R4, 10,000.]

Q4) From the following data prepare statement of profit in comparative form:
2018 2017
Revenue from operations 1000000 800000
Cost of material consumed 58% of 60% of
RFO RFO

Other expenses 10% of 15% of


Materials consumed MC

Income tax rate 40% 45%

[ profit after tax 2020 Rs 217200,2019 Rs 136400]

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