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Model Test Papers M.155

(b) From the following information, prepare Comparative Statement of Profit and Loss:

Particulars 31st March, 2017 31st March, 2018
Revenue from Operations ` 6,00,000 ` 8,00,000
Cost of Raw Materials Consumed 60% of Revenue from Operations 50% of Revenue from Operations
Other Income as % of (Revenue from Operations
– Cost of Materials Consumed) 20% 15%
Income Tax 50% 50%
Or
(a) What is meant by ‘Common-size Statement’?
(b) Prepare a Comparative Statement of Profit and Loss from the following information
extracted from the Statement of Profit and Loss of Fun Sports Ltd. for the year
ended 31st March, 2018:
Particulars 31st March, 2018 31st March, 2017

Revenue from Operations ` 70,00,000 ` 50,00,000
Employee Benefit Expenses ` 35,00,000 ` 20,00,000
Depreciation ` 8,00,000 ` 5,00,000
Other Expenses ` 16,00,000 ` 12,00,000
Tax Rate 40% 40%
(1 + 3)
22. (a) Capital Employed: ` 1,00,000
Non-current Assets: ` 80,000
Cost of Revenue from Operations: ` 3,20,000
Gross Profit: 20% on Revenue from Operations
Calculate Working Capital Turnover Ratio.
(b) Inventory Turnover Ratio: 4 Tmes,
Inventory at the end was ` 20,000 more than Inventory in the beginning,
Revenue from Operations: ` 3,00,000,
Gross Profit Ratio: 25%,
Current Liabilities: ` 40,000,
Quick Ratio: 0.75 : 1,
Calculate Current Ratio.
Or
(a) From the following information, calculate ‘Trade Receivables Turnover Ratio’:
Total Revenue from Operations for the year ` 8,40,000
Cash Revenue from Operations 40% of Credit Revenue from Operations
Closing Trade Receivables ` 2,00,000
Excess of closing Trade Receivables over opening Trade Receivables ` 80,000
(b) From the following information, calculate ‘Interest Coverage Ratio’:
Profit after Interest and Tax ` 4,97,000
Rate of income tax ` 30%
12% Debentures ` 6,00,000
(2 + 2)