# Analysis of Financial Statements (CBSE Class-12 Accountancy): Questions 1 - 3 of 43

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## Question number: 1

» Analysis of Financial Statements » Financial Statements of a Company

Essay Question▾

### Describe in Detail

Following are the brief particulars of cash transactions of Geeta Pustakalaya Allahabad for the year ended 31st December 2002.

 Receipts amount payment amount To balance b/f 1319 By rent and rates 168 To entrance fees 255 By wages 245 To subscriptions 1600 By lighting 72 To donation 165 By lecturers fee 435 To life membership fee 250 By books 213 To interest 14 By office expenses 450 To profit on entertainment 42 By 3 % fixed deposits (1.7. 2002) 800 By bank balance 242 By cash in hand 1020 3645 3645

Library has books worth Rs. 2, 000 and furniture worth Rs. 850 in the beginning of year. Outstanding subscription was Rs. 35 in the beginning of year and Rs. 45 at the end of year. Outstanding rent was Rs. 60 in the beginning as well as at the end of year. Charge depreciation Rs. 50 on Furniture and Rs. 113 on Books.

Required: from the above particulars prepare Income and Expenditure Account and Balance Sheet of Pustakalaya as on 31st December 2002.

### Explanation

 Particulars amount particular amount To rent 168 By subscription 1600 To rent 60 Add: outstanding 45 Less: of previous year 60 168 Less: of previous year 35 1610 To wages 245 By interest 14… (147 more words) …

## Question number: 2

» Analysis of Financial Statements » Financial Statement Analysis

One Liner Question▾

### Write in Brief

what is financial statement analysis?

## Question number: 3

» Analysis of Financial Statements » Financial Statements of a Company

Short Answer Question▾

### Write in Short

P and Q are partners with capitals of Rs. 6, 00, 000 and Rs. 4, 00, 000 respectively. The profit and Loss Account of the firm showed a net Profit of Rs. 4, 26, 800 for the year. Prepare Profit and Loss account after taking the following into consideration: -

1. Interest on P’s Loan of Rs. 2, 00, 000 to the firm
2. Interest on ‘capital to be allowed@6 % p. a.
3. Interest on Drawings@8 % p. a. Drawings were; P Rs. 80, 000 and Q Rs. 1000, 000.
4. Q is to be allowed a commission on sales@3%. Sales for the year was Rs. 1000000
5. 10 % of the divisible profits is to be kept in a Reserve Account.

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