Financial Statements Questions

Arrange the following under the heading Equities and Liabilities in the balance sheet of a company in the correct order from top to bottom as per Schedule III of the Companies Act, 2013:(A) Non-current liabilities(B) Current liabilities(C) Shareholders' fund(D) Share application money pending allotmentChoose the correct answer from the options given below:

Comparative statements are the form of:

Operating profit before working capital changes amounted to ₹85,000. The following further information is given:Particulars31.3.2020 (₹)31.3.2019 (₹)Cash36,00030,000Trade receivable18,00012,000Provision for tax9,0008,000Trade payables20,00016,000Bank overdraft18,000-The Net cash flow from operating activities after tax is:

Match the items in List I with their appropriate classifications under Schedule III of the Companies Act, 2013 in List II:List I (Items)List II (Classification)A. Shareholders' fundsI. Furniture and FittingsB. Current liabilitiesII. Prepaid expensesC. Current AssetsIII. Calls in AdvanceD. Non-current assetsIV. Surplus of Balance on statement of P and LChoose the correct answer from the options given below:

What are the different types of liquidity ratiosA. Interest coverage ratioB. Current ratioC. Inventory turnover ratioD. Gross profit ratioE. Acid test ratio Choose the correct answer from the options given below:

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 :

Vertical analysis uses financial data of a company for:

Operating Expenses include:A. Rent paidB. Interest paid on loanC. Selling and Distribution ExpensesD. Commission ReceivedE. Salaries PaidChoose the correct answer from the options given below:

Match the activities in List I with their correct corresponding examples in List II with regard to Cash Flow Statement:List IList IIA. Operating activityI. Raising of loanB. Investing activityII. Current investmentC. Financing activityIII. Selling of investmentD. Cash and Cash equivalentIV. Buying of raw materialChoose the correct answer from the options given below:

Current ratio is $2:5$, current liabilities Rs. $25,000$, the amount of current assets will be:

Which of the following ratios is not a profitability ratio?

Which of the following is an inflow of cash in financing activities?

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.

What is gross profit ratio?Gross sales Rs. $7,60,000$ Sales returns Rs. $40,000$ Net Profit after interest Rs. $40,000$ Indirect expenses Rs. $60,000$ Interest paid on debentures Rs. $20,000$

From the Receipts and Payments account for the year ending 31.3.22, Locker Rent received is ₹17,050.Additional Information:Locker rent outstanding for the year 2020-21 was ₹3,050.Locker rent outstanding for the year 2021-22 is ₹1,500.Locker rent received in advance at the end of the current year (i.e., on 31.3.22) is ₹1,000.What amount of Locker Rent will be shown in the Income and Expenditure A/c?

If the net profit earned during the year is ₹50,000 and the amount of depreciation charged during the year is ₹15,000, then the cash flow from operating activities (assuming no working capital adjustments) will be equal to ₹ _______.

Cash payment to and on behalf of employees is:

There are 500 members in a Rotary club, each paying ₹1,000 as an annual subscription. During the current financial year, 100 members paid only a partial subscription amounting to ₹80,000 in total. 10 members left without giving any subscription for the year. The actual amount of subscription cash received during the current financial year will be:

Match List I with List II regarding accounting ratios and their descriptions:List I (Ratios)List II (Descriptions)A. Debt-Equity RatioI. Primarily indicates the rate of external funds in financing assets.B. Total assets to Debt ratioII. Higher proportion provides security to creditors.C. Proprietary ratioIII. It reveals the efficiency of business in utilization of funds.D. Return on InvestmentIV. It measures the degree of indebtedness of an enterprise.Choose the correct answer from the options given below:

If net profit made during the year are Rs. $50,000$ and the bills receivables have decreased by Rs. $10,000$ during the year then the cash flow from operating activities will be:

Identify the components of equity:A. Money received against share warrantsB. Working capitalC. Share capitalD. Reserves & surplusE. Cash Revenue from operationsChoose the correct answer from the options given below:

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 :

Cash from operations will be ifTotal sales Rs. $5,00,000$ Credit sales Rs. $2,25,000$ Total Purchases Rs. $2,48,000$ Credit Purchases Rs. $1,08,000$ Cash Operating expenses Rs. $40,000$

Case Study Information (Questions 41-45):Pragya Madan, an ex-Indian hockey player, decided to start a hockey academy named "Bright Hockey Academy" on 1st April 2022 to train young girls.Her neighbor, Ishwar, died and willed his land to start the academy.Her father, Ramkumar, spent ₹20,00,000 for the construction of a pavilion.100 young girls joined the academy and paid an annual subscription of ₹1,000 each.10 members paid a single amount of ₹25,000 each to obtain life membership.Hockey sticks and balls purchased during the year amounted to ₹27,000. Closing stock of these items is nil.Question: The land donated by the deceased neighbor Ishwar under his will is classified as:

Case Study Information:Pragya Madan, an ex-Indian hockey player, decided to start a hockey academy named "Bright Hockey Academy" on 1st April 2022 to train young girls.Her neighbor, Ishwar, died and willed his land to start the academy.Her father, Ramkumar, spent ₹20,00,000 for the construction of a pavilion.100 young girls joined the academy and paid an annual subscription of ₹1,000 each.10 members paid a single amount of ₹25,000 each to obtain life membership.Hockey sticks and balls purchased during the year amounted to ₹27,000. Closing stock of these items is nil.Question: The accounting treatment for the expenditure incurred on the construction of the pavilion (₹20,00,000) is:

Which one of the following activities relate to financing activities?

Case Study Information:Pragya Madan, an ex-Indian hockey player, decided to start a hockey academy named "Bright Hockey Academy" on 1st April 2022 to train young girls.Her neighbor, Ishwar, died and willed his land to start the academy.Her father, Ramkumar, spent ₹20,00,000 for the construction of a pavilion.100 young girls joined the academy and paid an annual subscription of ₹1,000 each.10 members paid a single amount of ₹25,000 each to obtain life membership.Hockey sticks and balls purchased during the year amounted to ₹27,000. Closing stock of these items is nil.Question: The Life Membership fees received from the 10 members is:

Case Study Information:Pragya Madan, an ex-Indian hockey player, decided to start a hockey academy named "Bright Hockey Academy" on 1st April 2022 to train young girls.Her neighbor, Ishwar, died and willed his land to start the academy.Her father, Ramkumar, spent ₹20,00,000 for the construction of a pavilion.100 young girls joined the academy and paid an annual subscription of ₹1,000 each.10 members paid a single amount of ₹25,000 each to obtain life membership.Hockey sticks and balls purchased during the year amounted to ₹27,000. Closing stock of these items is nil.Question: The amount of recurring subscription revenue credited to the Income and Expenditure Account during the year will be:

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 :

When the ratio is low, the firm is said to have favourable indication.

Case Study Information:Pragya Madan, an ex-Indian hockey player, decided to start a hockey academy named "Bright Hockey Academy" on 1st April 2022 to train young girls.Her neighbor, Ishwar, died and willed his land to start the academy.Her father, Ramkumar, spent ₹20,00,000 for the construction of a pavilion.100 young girls joined the academy and paid an annual subscription of ₹1,000 each.10 members paid a single amount of ₹25,000 each to obtain life membership.Hockey sticks and balls purchased during the year amounted to ₹27,000. Closing stock of these items is nil.Question: Sports material consumed during the financial year 2022-2023 will be:

Debt-equity ratio is a sub-part of:

Identify the correct sequence of current assets in company's Balance sheet?A. Bills ReceivablesB. Cash & cash equivalentsC. Short term loans & advancesD. InventoriesE. Current investments Choose 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.

Which one of the following is not a 'Cash Outflow'?

Which items are not added to the net profit for calculating cash from operating activities?(I) Interest and dividend received(II) Transfer to reserves(III) Discount on issue of shares(IV) Loss on sale of fixed assets

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.

If a machinery is purchased, how will it be treated while preparing the cash flow statement as per AS-3 (Revised)?

The main objective of common size statement of profit and loss is:

Match List - I with List - II.
$$\begin{array}{ll}\text{List - I}& \text{List - II}\\ \text{(A) The accounting basis for a Cash Flow Statement is}& \text{(I) Investment in shares}\\ \text{(B) Dividend paid on Equity and Preference capital comes under}& \text{(II) Cash Basis}\\ \text{(C) It cannot be considered as cash and cash equivalents}& \text{(III) Treasury bills}\\ \text{(D) It can be classified as cash and cash equivalents}& \text{(IV) Cash outflow from Financing Activities}\end{array}$$
Choose the correct answer from the options given below:

From the following information of I Ltd., calculate Net Increase / Decrease in cash and cash equivalents during the year 2021-22.i) Cash flow from Operating Activities: Rs. $2,35,000$ ii) Cash used in investing Activities: Rs. $4,35,000$ iii) Cash flow from financing activities: Rs. $2,35,000$

Match List - I with List - II.
$$\begin{array}{ll}\text{List - I (Accounting Ratios)}& \text{List - II (Functional Classification)}\\ \text{(A) Current Ratio}& \text{(I) Solvency Ratios}\\ \text{(B) Inventory Turnover Ratio}& \text{(II) Liquidity Ratios}\\ \text{(C) Return on Investment}& \text{(III) Profitability Ratios}\\ \text{(D) Proprietary Ratio}& \text{(IV) Activity Ratios}\end{array}$$
Choose the correct answer from the options given below:

According to AS-3, cash proceeds from issue of share is:

Identify the salient features of the Income and Expenditure account from the following:A. It is prepared on an accrual basis.B. It includes both revenue as well as capital items.C. It is prepared after taking into account the additional information regarding outstanding/prepaid expenses and depreciation etc.D. Its result is surplus or deficit.E. It is prepared with the help of the Receipts and Payments Account. Choose the correct answer from the options given below:

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 :

Capital gains tax paid explicitly on the sale of fixed assets should be classified as a:

Which one of the following statement is false?

Match List I with List II as per Statement of Profit and Loss of a company under Schedule III of Companies Act, 2013:List IA. Interest chargesB. Sale of servicesC. SalaryD. Dividend IncomeList III. Employee Benefit ExpensesII. Other IncomeIII. Revenue from OperationsIV. Finance CostChoose the correct answer from the options given below:

Separate disclosure of cash flows from ________ activities is important because they represent the extent to which expenditure have been made for resources intended to generate future income and cash flows:

Select the sub-head under which loose tools will be shown in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013.

Identify the items NOT be shown under Investing Activities while making Cash Flow statement.(a) Proposed Dividend(b) Purchase of non-current Investments(c) Interest paid on long term borrowings(d) Sale of machinery(e) Marketable securities Choose the most appropriate answer from the options given below:

Find out cash from Financing Activities from the following information:ItemAmountIssue of Equity Shares$\text{Rs. }80,000$ Redemption of Preference Shares$\text{Rs. }30,000$ Interim Dividend Paid$\text{Rs. }25,000$ Interest on Debentures$\text{Rs. }15,000$ Issue of Debentures$\text{Rs. }30,000$ Choose the correct answer from the options given below:

If debentures are converted into equity shares, it is a/an : _____

Which of the following will be added to operating profit before working capital changes, while preparing Cash Flow statement using the indirect method?

Calculate Current Ratio from the following given information.Liquid Ratio $0.75:1$ Current Liabilities Rs. 1,80,000Prepaid Expenses Rs. 20,000Inventory Rs. 47,250

What is the correct top-to-bottom sequence to prepare a company's Balance Sheet as per the standard format given according to Schedule III of the Companies Act, 2013?A. Non-Current LiabilityB. Non-Current AssetsC. Shareholders' FundsD. Current AssetsE. Current LiabilityChoose the correct answer from the options given below:

X Ltd. has a Current Ratio of $3.5:1$ and Quick Ratio of $2:1$. If excess of current assets over quick assets represented by inventories is Rs. $24,000$. Calculate current liabilities.

Every company analyses its earning capacity of the business which is an outcome of utilisation of resources employed in the business. To analyse profitability, a company can use:A. Dividend Payout RatioB. Return on Net WorthC. Gross Profit RatioD. Quick RatioE. Inventory Turnover RatioChoose the correct answer from the options given below:

The closing balance of Receipts and Payments Account depicts _________.

Match List - I with List - II.
\begin{array}{l|l} \textbf{List - I} & \textbf{List - II} \\ \hline \text{(A) Share Capital} & \text{(I) 10% debenture} \\ \text{(B) Reserve and Surplus} & \text{(II) Interest accrued and due} \\ \text{(C) Non-current Liability} & \text{(III) Share forfeited account} \\ \text{(D) Current Liability} & \text{(IV) Capital Redemption Reserve} \end{array}
Choose the correct answer from the options given below:

The ideal Debt Equity Ratio is :

Tax paid on capital gains by the company is shown in Cash Flow Statement as:

Match List - I with List - II

Choose the correct answer from the options given below:

Identify the other name by which Liquid ratio is known:

Following items are categorised under Operating Activities:A. Purchase of GoodwillB. Transfer to General ReserveC. Issue of fresh sharesD. Gain on sale of machineryChoose the correct answer from the options given below:

Arrange the following items of statement of profit and Loss in a sequence.(A) Total Revenue(B) Revenue from Operations(C) Other Income(D) Expenses(E) Profit Before TaxChoose the correct answer from the options given below:

Make the right combination of the ratios that enables to find the short term liquidity.(a) Return on Equity(b) Acid Test Ratio(c) Current Ratio(d) Sacrificing Ratio(e) Inventory Turnover RatioChoose the most appropriate answer from the options given below:

Identify the correct sequence of different items to be shown in a Balance-Sheet of a company.(A) Trade payable(B) Non-Current Investments(C) Deferred tax Liabilities(D) Intangible Assets(E) Long term borrowingChoose the correct answer from the options given below:

Match List I with List II in context of cashflow statementLIST IA. Sale of fixed assetB. Purchase of GoodwillC. Tax PaidD. Dividend Paid LIST III. Outflow in operating activitiesII. Inflow in Investing ActivitiesIII. Outflow in Investing ActivitiesIV. Outflow in Financing Activities Choose the correct answer from the options given below:

What will be the accounting treatment of outstanding expenses in the Income and Expenditure A/c.(A) Added in main or concerned head(B) Subtracted from main head(C) Shown in Balance-Sheet as Liability(D) Will not be shown in Income and Expenditure A/c(E) Shown in Receipt and Payment A/c onlyChoose the correct answer from the options given below:

X Ltd. sold machinery having a book value of Rs. 25,000 (on which accumulated depreciation of Rs. 5,000 had been charged) at a profit of Rs. 3,000. The cash flow from investing activities will be:

Calculate cash flow from financing Activities of X Ltd. which is a financing company.Issue of shares Rs. $1,00,000$ Issue of Bonus shares Rs. $50,000$ Dividend paid Rs. $10,000$ Interest paid Rs. $5,000$

Read the following information to answer.On the basis of case study given below, answer the question which follows:"Mikku on alumni of IIT Delhi, initiated his start-up "Gajanan Ltd.," in the year 2016. His profit in the year 2020-21 after all appropriation was Rs. $6,25,000$. This profit was arrived after taking following items into consideration:ParticularsRs.Loss on Sale of fixed Assets$5,00,000$ Goodwill written off$3,80,000$ Transfer to reserve$3,55,000$ Provision for tax$2,70,000$ Interest on Debentures paid$1,65,000$ Other Details are:Particulars2020 (in Rs.)2021 (in Rs.)Prepaid Expenses$25,000$$10,000$ Accrued interest$40,000$$68,000$ Trade payables$7,00,000$$4,00,000$ Inventories$6,50,000$$5,50,000$ Net profit before tax will be Rs. ________

Intangible assets should be recognised by fulfilling the criteria as recognised under:

Calculate the amount of cash generated from operations from the following information:

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.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 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:

Rathi Udyog, made a profit of 72,000 after changing depreciation of Rs. 17,000 on fixed assets and paid Rs. 10,000 as interim dividend. The goodwill amortized was Rs. 12,000 and profit (Gain) on sale of furniture was Rs. 2,500.The other informations were:Trade Payable showed an increase of Rs. 7,000.Outstanding expenses showed a decrease of Rs. 5,000.Accrued Income showed an increase of Rs. 8,000.Trade payable showed a decrease of Rs. 10,000.Inventories showed a decrease of Rs. 3,000.If from the above informations, cash flow from operating activity is ascertained, then it is ascertained according to Accounting standard:

\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:

Read the following information to answer.On the basis of case study given below, answer the question which follows:"Mikku on alumni of IIT Delhi, initiated his start-up "Gajanan Ltd.," in the year 2016. His profit in the year 2020-21 after all appropriation was Rs. $6,25,000$. This profit was arrived after taking following items into consideration:ParticularsRs.Loss on Sale of fixed Assets$5,00,000$ Goodwill written off$3,80,000$ Transfer to reserve$3,55,000$ Provision for tax$2,70,000$ Interest on Debentures paid$1,65,000$ Other Details are:Particulars2020 (in Rs.)2021 (in Rs.)Prepaid Expenses$25,000$$10,000$ Accrued interest$40,000$$68,000$ Trade payables$7,00,000$$4,00,000$ Inventories$6,50,000$$5,50,000$ From among the following, choose the item which would be mentioned in financing activity also:

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:

Find out Net Profit before tax from the above informations:

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 IILIST I: Major HeadA. Fixed assetsB. Current AssetsC. Current LiabilitiesD. Shareholder's FundsLIST II: Sub HeadI. Short term provisionsII. Money received against share warrantsIII. Non current investmentIV. InventoriesChoose the correct answer from the options given below:

\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:

Apart from showing interim dividend in Net Profit before tax, where else it will be shown?

\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:

Read the following information to answer.On the basis of case study given below, answer the question which follows:"Mikku on alumni of IIT Delhi, initiated his start-up "Gajanan Ltd.," in the year 2016. His profit in the year 2020-21 after all appropriation was Rs. $6,25,000$. This profit was arrived after taking following items into consideration:ParticularsRs.Loss on Sale of fixed Assets$5,00,000$ Goodwill written off$3,80,000$ Transfer to reserve$3,55,000$ Provision for tax$2,70,000$ Interest on Debentures paid$1,65,000$ Other Details are:Particulars2020 (in Rs.)2021 (in Rs.)Prepaid Expenses$25,000$$10,000$ Accrued interest$40,000$$68,000$ Trade payables$7,00,000$$4,00,000$ Inventories$6,50,000$$5,50,000$ Cash flow from Operating Activities will be Rs. ________

Under Schedule III of the Companies Act 2013, current liabilities do not include:

If there are Fixed assets of ₹10,00,000, Current assets of ₹6,00,000, Current liabilities of ₹3,00,000 and Net profit before Interest and Tax of ₹2,60,000; then Return on Investment will be:

Comprehension:Consider the following account balance particulars of a firm:ParticularsAmount (Rs.)Inventories$50,000$ Trade Receivables$50,000$ Advance Tax$4,000$ Cash and Cash Equivalents$30,000$ Trade Payables$1,00,000$ Bank overdraft$4,000$ Question: Total amount of Current Assets is:

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 :

A club has an opening balance of ₹8,50,000 in the Match Fund. Donations received for matches during the current year amounted to ₹4,25,000. Sale of match tickets amounted to ₹1,15,000. Match expenses incurred were ₹14,00,000. The balance in the Match Fund at the year-end will be:

Which one of the following statements is true?

Match List I with List IILIST IA. Cash EquivalentsB. Financing ActivitiesC. Operating ActivitiesD. Investing ActivitiesLIST III. Interim Dividend paidII. Selling & Distribution expenses paidIII. Marketable securitiesIV. Dividend received on Shares held as investmentChoose the correct answer from the options given below:

Common size analysis is also known as

While preparing common-size Balance sheet, each item of Balance sheet is expressed as $\%$ of

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. $20,500$

Which one of the following items will be added in debit balance of cash book in the preparation of bank reconciliation statement?