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M.76 An Aid to Accountancy—CBSE XII
Or

(a) Total Assets.
(b) COMPARATIVE STATEMENT OF PROFIT AND LOSS OF V LTD.
for the years ended 31st March, 2017 and 2018
A B C = B – A D = C/A × 100
Particulars 31st March, 31st March, Absolute Percentage
2017 2018 Change Change
` ` ` %
I. Revenue from Operations 10,00,000 20,00,000 10,00,000 100.00
II. Expenses
(a) Cost of Materials Consumed 6,00,000 15,00,000 9,00,000 150.00
(b) Other Expenses 60,000 1,80,000 1,20,000 200.00
Total Expenses 6,60,000 16,80,000 10,20,000 154.55
III. Profit before Tax (I – II) 3,40,000 3,20,000 (20,000) (5.88)
IV. Less: Tax 1,02,000 1,28,000 26,000 25.49
V. Profit after Tax (III – IV) 2,38,000 1,92,000 (46,000) (19.33)
GrossProfit
21. Gross Profit Ratio = ¥100
Revenue from Operations (Net Sales)

` 10,00,000 1
= ¥100 = 33 % .
` 30,00,000 3
Gross Profit = Revenue from Operations – Cost of Revenue from Operations
= ` 30,00,000 – ` 20,00,000 = ` 10,00,000.
Revenue from Operations
Working Capital Turnover Ratio =
Working Capital
` 30,00,000
= = 7.5 Times.
` 4,00,000
Working Capital = Current Assets – Current Liabilities
= ` 6,00,000 – ` 2,00,000 = ` 4,00,000.
22. (a) (i) Financial Statements ignore the qualitative elements like quality of
management, quality of labour force, public relations, etc.
(ii) Financial Statements prepared on historical basis ignore the price level changes
since the financial statements are prepared on historical cost basis and not
on current cost basis.
(b)
Items Heads Sub-heads
(i) Calls-in-Arrears Shareholders’ Funds Subscribed Capital
(Shown by way of deduction)
(ii) Calls-in-Advance Current Liabilities Other Current Liabilities
(iii) Gain on reissue of forfeited equity shares Shareholders’ Funds Reserves and Surplus (Capital Reserve)
(iv) Trade Payables to be settled beyond 12 months Non-current Liabilities Other Long-term Liabilities
from the date of Balance Sheet