Question 28 Chapter 2 VK Publications Class 12 Part 2 – 2021
Table of Contents
28. Prepare a Common Size Income Statement of Kanpur Leather Ltd. from the following information:
| Particulars | 31st March2018 (Rs.) | 31st March2017 (Rs.) | |
| I. Revenue from Operations | 1,37,200 | 98,000 | |
| II. Other Incomes | 2,800 | 2,000 | |
| III. Total Revenue (I + II) | 1,40,000 | 1,00,000 | |
| IV. Expenses | |||
| Cost of Material Consumed | 88,200 | 65,000 | |
| Employees Benefit Expenses | 19,600 | 11,000 | |
| Other Expenses | 1,400 | 1,000 | |
| Total Expenses | 1,09,200 | 77,000 | |
| V. Profit before Tax (III-IV) | 30,800 | 23,000 | |
| VI. Less : Income Tax | 16,800 | 14,000 | |
| VII. Profit after Tax (V-VI) | 14,000 | 9,000 | |
The solution of Question 28 Chapter 2 VK Publications Class 12 Part 2: –
Common Size Balance Sheet Statement For the years ended 31st March,2017 and 2018
| Particulars | Note | Absolute Amounts | Percentage of the Balance sheet Total | ||
| 31.03.2017. | 31.03.2018. | 31.03.2017. | 31.03.2018. | ||
| Rs. | Rs. | % | % | ||
| I. Revenue from Operations | 98,000 | 1,37,200 | 100 | 100.00 | |
| II. Other income | 2,000 | 2,800 | 2.04 | 2.04 | |
| III. Total Revenue from Operations (I+II) | 1,00,000 | 1,40,000 | 102.04 | 102.04 | |
| IV. Expenses | |||||
| Cost of Material Consumed | 65,000 | 88,200 | 66.32 | 64.29 | |
| Employees Benefits Expenses | 11,000 | 88,200 | 11.22 | 14.29 | |
| Other Expense | 1,000 | 1,400 | 1.02 | 1.02 | |
| Total Expense | 77,000 | 1,09,200 | 78.57 | 79.59 | |
| V. Profit before Tax (III-IV) | 23,000 | 30,800 | 23.47 | 22.44 | |
| VI. Less: Tax | 14,000 | 16,800 | 14.29 | 12.24 | |
| VII. Profit after Tax (V-VI) | 9,000 | 14,000 | 9.18 | 10.20 | |
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