Financial Statements Questions

Match List I with List II: \begin{tabular}{|l|l|}\hline\textbf{LIST I} & \textbf{LIST II} \ \hlineA. Operating Profit Ratio & I. Solvency Ratios \ \hlineB. Working Capital Turnover Ratio & III. Activity Ratios \ \hlineC. Debt-Equity Ratio & III. Activity Ratios \ \hlineD. Quick Ratio & IV. Profitability Ratios \ \hline\end{tabular} Choose the correct answer from the options given below:

Match List I with List II:\begin{tabular}{|l|l|}\hline\textbf{LIST I} & \textbf{LIST II} \ \hlineA. Capital Reserve & I. Current Assets \ \hlineB. Inventories & II. Non-Current Liabilities \ \hlineC. $8\%$ Debentures & III. Current Liabilities \ \hlineD. Provision for tax & IV. Reserve and Surplus \ \hline\end{tabular}Choose the correct answer from the options given below:

Which of the following items is not a tool of financial statement analysis?

Which of the following items are part of Intangible non-current Assets?A. PatentsB. FurnitureC. Statement of Profit & Loss A/c (Dr)D. GoodwillE. TrademarkChoose the correct answer from the options given below:

The following are items appearing on the Equities and Liabilities side of the Balance Sheet:A. Deferred tax Assets (Net)B. Reserve and SurplusC. Deferred tax Liabilities (Net)D. Long term borrowingsE. Long term loans and AdvancesChoose the correct answer from the options given below:

Arrange the following items in the correct order of presentation within the Statement of Profit and Loss.A. Other incomeB. ExpensesC. Total RevenueD. Revenue from operationsE. Profit before tax and extraordinary itemsChoose the correct answer from the options given below:

Match List I with List II:\begin{tabular}{|l|l|}\hline\textbf{LIST I} & \textbf{LIST II} \ \hlineA. Horizontal Analysis & I. Common-size statement \ \hlineB. Vertical Analysis & II. Comparative statement \ \hlineC. External Analysis & III. Access to all published and unpublished information \ \hlineD. Internal Analysis & IV. Access only to published financial records \ \hline\end{tabular}Choose the correct answer from the options given below:

Arrange the following components in the correct presentation sequence for constructing a Cash Flow Statement (Indirect Method) under AS-3.A. Calculation of cash flow from Operating ActivitiesB. Calculation of cash flow from Financing ActivitiesC. Calculation of net increase/decrease in cash and cash equivalents during the yearD. Calculation of cash flow from Investing ActivitiesE. Calculation of net profit before tax and extraordinary itemsChoose the correct answer from the options given below:

Match List I with List II:\begin{tabular}{|l|l|}\hline\textbf{LIST I} & \textbf{LIST II} \ \hlineA. Employee benefit expenses & I. Investing activity \ \hlineB. Dividend received & II. Operating activity \ \hlineC. Loan raised & III. Extraordinary item \ \hlineD. Proceeds from earthquake disaster settlement & IV. Financing activity \ \hline\end{tabular}Choose the correct answer from the options given below:

Based on the operational data provided below, calculate the net cash paid for inventory during the year:\begin{tabular}{|l|r|}\hline\textbf{Particulars} & \textbf{Amount (Rs.)} \ \hlineInventory at the beginning & 40,000 \ \hlineCredit Purchases & 1,60,000 \ \hlineInventory at the end & 38,000 \ \hlineTrade payables at the beginning & 14,000 \ \hlineTrade payables at the end & 14,500 \ \hline\end{tabular}

\textbf{Case Study Description (Questions 41 to 45):}Review the Trial Balance and accompanying details provided by a school for the fiscal year ended 31st March 2017:\begin{tabular}{|l|r|l|r|}\hline\textbf{Debit Balance} & \textbf{Amount (Rs.)} & \textbf{Credit Balance} & \textbf{Amount (Rs.)} \ \hlineBuilding & 6,25,000 & Admission fees & 12,500 \ \hlineFurniture & 1,00,000 & Tuition fees received & 5,00,000 \ \hlineLibrary Books & 1,50,000 & Creditors for supplies & 15,000 \ \hlineInvestment @12% & 5,00,000 & Rent for the school hall & 10,000 \ \hlineSalaries & 5,00,000 & Miscellaneous receipts & 30,000 \ \hlineStationery & 40,000 & Government grant & 3,50,000 \ \hlineGeneral expenses & 18,000 & General fund & 10,00,000 \ \hlineSports expenses & 15,000 & Donation for library books & 62,500 \ \hlineCash at bank & 50,000 & Sale of old furniture & 20,000 \ \hlineCash in hand & 2,000 & & \ \hline\textbf{Total} & \textbf{20,00,000} & \textbf{Total} & \textbf{20,00,000} \ \hline\end{tabular}\textbf{Additional Information:}\begin{enumerate}\item Tuition fees outstanding/yet to be received for the year are $\text{Rs. }25,000$.\item Salaries outstanding/yet to be paid amount to $\text{Rs. }30,000$.\item Furniture costing $\text{Rs. }40,000$ was purchased on October 1, 2016.\item The book value of the furniture sold was $\text{Rs. }50,000$ on April 1, 2016.\item Depreciation is to be charged at $10\%\text{ p.a.}$ on furniture, $15\%\text{ p.a.}$ on Library books, and $5\%\text{ p.a.}$ on building.\end{enumerate}Based on the case study data, calculate the Loss on the sale of old furniture:

\textbf{Case Study Description:}Review the Trial Balance and accompanying details provided by a school for the fiscal year ended 31st March 2017:\begin{tabular}{|l|r|l|r|}\hline\textbf{Debit Balance} & \textbf{Amount (Rs.)} & \textbf{Credit Balance} & \textbf{Amount (Rs.)} \ \hlineBuilding & 6,25,000 & Admission fees & 12,500 \ \hlineFurniture & 1,00,000 & Tuition fees received & 5,00,000 \ \hlineLibrary Books & 1,50,000 & Creditors for supplies & 15,000 \ \hlineInvestment @12% & 5,00,000 & Rent for the school hall & 10,000 \ \hlineSalaries & 5,00,000 & Miscellaneous receipts & 30,000 \ \hlineStationery & 40,000 & Government grant & 3,50,000 \ \hlineGeneral expenses & 18,000 & General fund & 10,00,000 \ \hlineSports expenses & 15,000 & Donation for library books & 62,500 \ \hlineCash at bank & 50,000 & Sale of old furniture & 20,000 \ \hlineCash in hand & 2,000 & & \ \hline\textbf{Total} & \textbf{20,00,000} & \textbf{Total} & \textbf{20,00,000} \ \hline\end{tabular}\textbf{Additional Information:}\begin{enumerate}\item Tuition fees outstanding/yet to be received for the year are $\text{Rs. }25,000$.\item Salaries outstanding/yet to be paid amount to $\text{Rs. }30,000$.\item Furniture costing $\text{Rs. }40,000$ was purchased on October 1, 2016.\item The book value of the furniture sold was $\text{Rs. }50,000$ on April 1, 2016.\item Depreciation is to be charged at $10\%\text{ p.a.}$ on furniture, $15\%\text{ p.a.}$ on Library books, and $5\%\text{ p.a.}$ on building.\end{enumerate}Based on the case study data, calculate the total Depreciation on furniture for the year:

\textbf{Case Study Description:}Review the Trial Balance and accompanying details provided by a school for the fiscal year ended 31st March 2017:\begin{tabular}{|l|r|l|r|}\hline\textbf{Debit Balance} & \textbf{Amount (Rs.)} & \textbf{Credit Balance} & \textbf{Amount (Rs.)} \ \hlineBuilding & 6,25,000 & Admission fees & 12,500 \ \hlineFurniture & 1,00,000 & Tuition fees received & 5,00,000 \ \hlineLibrary Books & 1,50,000 & Creditors for supplies & 15,000 \ \hlineInvestment @12% & 5,00,000 & Rent for the school hall & 10,000 \ \hlineSalaries & 5,00,000 & Miscellaneous receipts & 30,000 \ \hlineStationery & 40,000 & Government grant & 3,50,000 \ \hlineGeneral expenses & 18,000 & General fund & 10,00,000 \ \hlineSports expenses & 15,000 & Donation for library books & 62,500 \ \hlineCash at bank & 50,000 & Sale of old furniture & 20,000 \ \hlineCash in hand & 2,000 & & \ \hline\textbf{Total} & \textbf{20,00,000} & \textbf{Total} & \textbf{20,00,000} \ \hline\end{tabular}\textbf{Additional Information:}\begin{enumerate}\item Tuition fees outstanding/yet to be received for the year are $\text{Rs. }25,000$.\item Salaries outstanding/yet to be paid amount to $\text{Rs. }30,000$.\item Furniture costing $\text{Rs. }40,000$ was purchased on October 1, 2016.\item The book value of the furniture sold was $\text{Rs. }50,000$ on April 1, 2016.\item Depreciation is to be charged at $10\%\text{ p.a.}$ on furniture, $15\%\text{ p.a.}$ on Library books, and $5\%\text{ p.a.}$ on building.\end{enumerate}Based on the case study data, calculate the closing value of the Building as of 31.03.2017:

\textbf{Case Study Description:}Review the Trial Balance and accompanying details provided by a school for the fiscal year ended 31st March 2017:\begin{tabular}{|l|r|l|r|}\hline\textbf{Debit Balance} & \textbf{Amount (Rs.)} & \textbf{Credit Balance} & \textbf{Amount (Rs.)} \ \hlineBuilding & 6,25,000 & Admission fees & 12,500 \ \hlineFurniture & 1,00,000 & Tuition fees received & 5,00,000 \ \hlineLibrary Books & 1,50,000 & Creditors for supplies & 15,000 \ \hlineInvestment @12% & 5,00,000 & Rent for the school hall & 10,000 \ \hlineSalaries & 5,00,000 & Miscellaneous receipts & 30,000 \ \hlineStationery & 40,000 & Government grant & 3,50,000 \ \hlineGeneral expenses & 18,000 & General fund & 10,00,000 \ \hlineSports expenses & 15,000 & Donation for library books & 62,500 \ \hlineCash at bank & 50,000 & Sale of old furniture & 20,000 \ \hlineCash in hand & 2,000 & & \ \hline\textbf{Total} & \textbf{20,00,000} & \textbf{Total} & \textbf{20,00,000} \ \hline\end{tabular}\textbf{Additional Information:}\begin{enumerate}\item Tuition fees outstanding/yet to be received for the year are $\text{Rs. }25,000$.\item Salaries outstanding/yet to be paid amount to $\text{Rs. }30,000$.\item Furniture costing $\text{Rs. }40,000$ was purchased on October 1, 2016.\item The book value of the furniture sold was $\text{Rs. }50,000$ on April 1, 2016.\item Depreciation is to be charged at $10\%\text{ p.a.}$ on furniture, $15\%\text{ p.a.}$ on Library books, and $5\%\text{ p.a.}$ on building.\end{enumerate}Determine the total Salary Expense to be debited to the Income and Expenditure Account for the year 2016-17:

\textbf{Case Study Description:}Review the Trial Balance and accompanying details provided by a school for the fiscal year ended 31st March 2017:\begin{tabular}{|l|r|l|r|}\hline\textbf{Debit Balance} & \textbf{Amount (Rs.)} & \textbf{Credit Balance} & \textbf{Amount (Rs.)} \ \hlineBuilding & 6,25,000 & Admission fees & 12,500 \ \hlineFurniture & 1,00,000 & Tuition fees received & 5,00,000 \ \hlineLibrary Books & 1,50,000 & Creditors for supplies & 15,000 \ \hlineInvestment @12% & 5,00,000 & Rent for the school hall & 10,000 \ \hlineSalaries & 5,00,000 & Miscellaneous receipts & 30,000 \ \hlineStationery & 40,000 & Government grant & 3,50,000 \ \hlineGeneral expenses & 18,000 & General fund & 10,00,000 \ \hlineSports expenses & 15,000 & Donation for library books & 62,500 \ \hlineCash at bank & 50,000 & Sale of old furniture & 20,000 \ \hlineCash in hand & 2,000 & & \ \hline\textbf{Total} & \textbf{20,00,000} & \textbf{Total} & \textbf{20,00,000} \ \hline\end{tabular}\textbf{Additional Information:}\begin{enumerate}\item Tuition fees outstanding/yet to be received for the year are $\text{Rs. }25,000$.\item Salaries outstanding/yet to be paid amount to $\text{Rs. }30,000$.\item Furniture costing $\text{Rs. }40,000$ was purchased on October 1, 2016.\item The book value of the furniture sold was $\text{Rs. }50,000$ on April 1, 2016.\item Depreciation is to be charged at $10\%\text{ p.a.}$ on furniture, $15\%\text{ p.a.}$ on Library books, and $5\%\text{ p.a.}$ on building.\end{enumerate}Calculate the total Tuition Fee Income to be credited to the Income and Expenditure Account: