Page 342 - AAAXII

Model Test Papers M.327

20. (a)
S. No. Items Major Heads Sub-heads
(i) Long-term Borrowings Non-current Liabilities Long-term Borrowings
(ii) Trade Payables Current Liabilities Trade Payables
(iii) Provision for Tax Current Liabilities Short-term Provisions
(iv) Securities Premium Reserve Shareholders’ Funds Reserves and Surplus
(v) Patents Non-current Assets Fixed Assets—Intangible Assets
(vi) Accrued Incomes Current Assets Other Current Assets
(b) A payable shall be classified as a ‘Trade Payable’ if it is in respect of the
amount due on account of goods purchased or services received in the normal
course of business.
21. (a) Trade receivable is the amount receivable against sale of goods and/or
services rendered in the normal course of business (e.g., trade debtors,
bills receivables).
(b) COMPARATIVE STATEMENT OF PROFIT AND LOSS
for the years ended 31st March, 2017 and 2018
Particulars Note 31st March, 31st March, Absolute Percentage
No. 2017 2018 Change Change
` ` ` %
I. Revenue from Operations 17,50,000 20,00,000 2,50,000 14.29
II. Expenses
(a) Purchases of Stock-in-Trade 8,25,000 10,00,000 1,75,000 21.21
(b) Change in Inventories of Stock-in-Trade 1,50,000 1,70,000 20,000 13.33
(c) Other Expenses 7,700 11,500 3,800 49.35
Total Expenses 9,82,700 11,81,500 1,98,800 20.23
III. Net Profit (I – II) 7,67,300 8,18,500 51,200 6.67

Or
(a) An Operating Cycle is the time between the acquisition of assets for processing
and their realisation in Cash and Cash Equivalents. Where the normal Operating
Cycle cannot be identified, it is assumed to have a duration of 12 months.
(b) COMMON-SIZE BALANCE SHEET as at 31st March, 2017 and 2018
Particulars Note No. Absolute Amounts Percentage of Balance Sheet Total
31st March, 31st March, 31st March, 31st March,
2017 (`) 2018 (`) 2017 (%) 2018 (%)
I. EQUITY AND LIABILITIES
1. Shareholders’ Funds 6,00,000 9,00,000 60.00 60.00
2. Non-Current Liabilities 3,00,000 3,00,000 30.00 20.00
3. Current Liabilities 1,00,000 3,00,000 10.00 20.00
Total 10,00,000 15,00,000 100.00 100.00
II. ASSETS
1. Non-Current Assets 7,00,000 10,50,000 70.00 70.00
2. Current Assets 3,00,000 4,50,000 30.00 30.00
Total 10,00,000 15,00,000 100.00 100.00