Page 101 - MA12

Model Test Papers M.7

II. ASSETS
1. Non-Current Assets
(a) Fixed Assets
(i) Tangible Assets (Machinery) 30,00,000 20,00,000
(ii) Intangible Assets (Patents) 3,00,000 3,40,000
(b) Non-current Investments 2,00,000 1,50,000
2. Current Assets
(a) Inventories 4,00,000 6,00,000
(b) Trade Receivables 7,00,000 9,00,000
(c) Cash and Bank Balances 9,50,000 1,80,000
Total 55,50,000 41,70,000

Notes to Accounts
Particulars 31st March, 31st March,
2020 (`) 2019 (`)
1. Reserves and Surplus
Surplus, i.e., Balance in Statement of Profit and Loss 9,00,000 5,00,000
2. Long-term Borrowings
10% Debentures 10,00,000 10,00,000
3. Other Current Liabilities
Unclaimed Dividend 60,000 ...
Outstanding Expenses 40,000 70,000
1,00,000 70,000
Additional Information:
1. During the year, a Machinery costing ` 4,00,000, on which depreciation charged was
` 2,20,000, was sold at a profit of ` 60,000.
2. Depreciation charged on machinery was ` 7,00,000.
3. During the year, the company declared Interim Dividend @ 10%.

4. At the end of the year, investment costing ` 50,000 were sold at a profit of 20%.
New investment was also purchased at the end of the current accounting year. [10]

11. (a) State any two objectives of Common-size Income Statement.
(b) What is meant by the term ‘Cash Equivalents’ as per AS-3, Cash Flow Statement?
(c) Give two examples of Cash Flows which are classified as ‘Investing Activity’ for
every type of enterprise.
(d) Prepare Common-size Statement of Profit and Loss from the following information:

31st March, 2020 31st March, 2019
Revenue from Operations ` 7,50,000 ` 5,00,000
Other Income ` 90,000 ` 1,00,000
Cost of Materials Consumed ` 4,50,000 ` 2,50,000
Other Expenses ` 75,000 ` 50,000
Tax Rate 30% 30%
[2 + 2 + 2 + 4 = 10]