Financial Statements Questions

Calculate prize fund expenses incurred during the year 2021-22 from the following informationPrize fund as on 1 April, 2021 Rs. $80,000$ Donation received for Prize Fund Rs. $15,000$$10\%$ Prize Fund Investment Rs. $80,000$ Interest Received Rs. $5,000$ Interest Accrued Rs. $3,000$ Prize fund as on 31 March, 2022 Rs. $70,000$

Which among the following items appear in the Receipt and Payment Account ?(A) Life membership fees(B) Depreciation of fixed assets(C) Provision of doubtful debts(D) Profit/loss on sale of fixed assetsChoose the correct answer from the options given below :

Which of the following is not included in Non-current liabilities, while preparing a Balance Sheet of a company :

Rearrange the following items in a sequence while preparing common size statement.(A) Calculate percentage of the total as per common base(B) Prepare the format of Balance sheet and Profit and Loss A/c(C) List out absolute figures in rupees at two points of time(D) Choose a common baseChoose the correct answer from the options given below :

From the following information calculate how much amount of depreciation will be shown in the Income and Expenditure A/c for the year 2021-22 :ParticularsAs on 31 March, 2021As on 31 March, 2022FurnitureRs. $1,80,000$ Rs. $1,60,250$ Furniture worth Rs. $8,000$ was sold for Rs. $10,000$ on 1 April, 2021.

Identify the correct sequence in calculation of Cash Flow from Operating Activities.(A) Addition and subtraction of Non cash/Non operating items(B) Payment of income tax(C) Calculation of operating profit before working capital changes.(D) Calculation of net profit/loss before tax and extraordinary itemsChoose the correct answer from the options given below :

Calculate subscription received during the year 2021-22 from the following information :Amount of subscription credited to Income and Expenditure A/c for the year ended 2021-22 Rs. $1,05,000$ Subscription received in advances as on 31 March, 2022 Rs. $10,000$ Subscription received in advances as on 31 March, 2021 Rs. $7,000$ Subscription outstanding as on 31 March, 2021 Rs. $10,500$ Subscription outstanding as on 31 March, 2022 Rs. $20,500$

Nitin Ltd. provides you the following information.Particulars1 April 202131 March 2022Machinery$2,40,000$$3,50,000$ Accumulated Depreciation$50,000$$45,000$ During the year, a machine costing Rs. $90,000$ with accumulated depreciation of Rs. $31,500$ was sold for Rs. $52,000$.Calculate Cash Flow from Investing Activities on the basis of the above information.

The commonly used Techniques of financial Statements Analysis includes :(A) Common size statements(B) Ratio Analysis(C) Trend Analysis(D) Capital Budgeting StatementChoose the correct answer from the options given below :

If there is Revenue from Operation Rs. $1,20,000$ and gross profit is $20\%$ of cost, then the amount of gross profit will be :

Which among the following are sources of cash inflow from Investing Activities ?(A) Dividend Received from investment(B) Cash Receipt from Disposal of shares(C) Cash Receipt from Disposal of Fixed Assets(D) Cash proceeds from issuing Shares and DebenturesChoose the correct answer from the options given below :

For calculating EPS, the following order will be followed.(A) Calculate number of equity shares(B) Calculate earning available for equity share holders(C) Compute profit after tax(D) Compute EPSChoose the correct answer from the options given below :

Value of $12\%$ government securities as at 31 March 2021 was Rs. $85,000$ which were purchased at that date at par. Additional $12\%$ securities worth Rs. $50,000$ were purchased on 31 March, 2022. Total interest debited to receipts and payments A/c during the year on the above securities is Rs. $9,000$. calculate Accrued interest on 31 March, 2022.

From the following information of X Ltd, calculate Cash Flow from Financing Activities.ParticularsApril 1, 2021March 31, 2022Long-term Loan2,00,0002,60,000During the year, the company repaid a loan of Rs. $1,00,000$. Long-term loan carried interest rate of $10\%$. The loan was repaid on 1st April 2021 and a fresh loan was taken on 31st March 2022.

Match List - I with List - II.List - I ||| List - II(A) Bank overdraft ||| (I) Non cash item(B) Dividend received ||| (II) Financing activity(C) Provision for doubtful debts ||| (III) Operating activity(D) Cash received from sale of goods ||| (IV) Investing activityChoose the correct answer from the options given below :

Match List - I with List - II.List - I ||| List - II(A) Receipts and Payment A/c ||| (I) Special fund(B) Capital receipt ||| (II) Life membership fees(C) Match fund ||| (III) Accrual basis(D) Income and Expenditure A/c ||| (IV) Cash basisChoose the correct answer from the options given below :

Match List - I with List - II.List - I ||| List - II(A) Operating Activities ||| (I) Issue of equity shares(B) Investing Activities ||| (II) Purchase of Marketable securities(C) Financing Activities ||| (III) Cash sales(D) Cash Equivalent ||| (IV) Purchase of fixed assetsChoose the correct answer from the options given below :

The ideal Debt Equity Ratio is :