Question 26 Chapter 2 VK Publications Class 12 Part 2 – 2021
Table of Contents
26. From the following Income Statement, prepare a Common Size Income Statement of Jagat Ltd. for the year ended 31st March, 2018:
Income Statement of Jagat Ltd. for the year ended 31st March, 2018
| Particulars | Note No. | (Rs.) | |
| I. Revenue from Operations | 30,00,000 | ||
| II. Other Incomes | 20,000 | ||
| III. Total Revenue | 30,20,000 | ||
| IV. Expenses | |||
| Cost of Material Consumed | 20,50,000 | ||
| Other Expenses | 40,000 | ||
| Total Expenses | 20,90,000 | ||
| V. Tax | 2,25,000 | ||
The solution of Question 26 Chapter 2 VK Publications Class 12 Part 2: –
Common Size Balance Sheet Statement For the years ended 31st March, 2018
| Particulars | Note | Absolute Amounts | Percentage of the Balance sheet Total |
| Rs. | % | ||
| I. Revenue from Operations | 30,00,000 | 100.00 | |
| II. Other income | 20,000 | 0.67 | |
| III. Total Revenue from Operations (I+II) | 30,20,000 | 100.67 | |
| IV. Expenses | |||
| Cost of Material Consumed | 20,50,000 | 68.33 | |
| Other Expense | 40,000 | 1.33 | |
| Total Expense | 20,90,000 | 69.66 | |
| V. Profit before Tax (III-IV) | 9,30,000 | 31.00 | |
| VI. Less: Tax | 2,25,000 | 7.50 | |
| VII. Profit after Tax (V-VI) | 7,05,000 | 23.50 |
Financial Statement Analysis and its tools or Techniques
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication