DK Goel Accountancy Class 12 Solutions Vol 2 Chapter 4 Common Size Statements: Are you a Class 12 Accountancy student looking for a good help guide for your exam prep? All the solutions of it are very well-explained and as per the current CBSE Syllabus, thanks to the subject matter experts.
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DK Goel Accountancy Class 12 Solutions Vol 2 Chapter 4 Common Size Statements
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Question 1
The following data is related to Cambridge Ltd.
(₹ in lakhs)
| Particulars | 31.03.2019 | 31.03.2018 |
| ₹ | ₹ | |
| Equity Share Capital | 16 | 16 |
| Preference Share Capital | 2 | 2 |
| Reserves and Surplus | 5.4 | 4 |
| Non-Current Liabilities | 14.4 | 14 |
| Current Liabilities | 7.2 | 4 |
| Non-Current Assets | 30.60 | 28 |
| Current Assets | 14.4 | 12 |
Now, you are required to prepare a Common Size Balance Sheet.
Solution:
CAMBRIDGE LTD.
COMMON SIZE BALANCE SHEET
As at 31.3.2018 and 31.3.2019
(₹ in lakhs)
| Particulars | Note No. | Absolute Amounts | % of Balance Sheet Total | ||
| 2018 | 2019 | 2018 | 2019 | ||
| ₹ | ₹ | % | % | ||
| EQUITY AND LIABILITIES: | |||||
| Shareholders’ Funds | |||||
| Share Capital | 18 | 18 | 45 (i) | 40 (iv) | |
| Reserves and Surplus | 4 | 5.4 | 10 (ii) | 12 (v) | |
| Non-Current Liabilities | 14 | 14.4 | 35 (iii) | 32 (vi) | |
| Current Liabilities | 4 | 7.2 | 10 | 16 | |
| TOTAL | 40 | 45 | 100 | 100 | |
| ASSETS | |||||
| Non-Current Assets | 28 | 30.6 | 70 | 68 | |
| Current Assets | 12 | 14.4 | 30 | 32 | |
| TOTAL | 40 | 45 | 100 | 100 | |
Question 2
Following is the Statement of Profit and Loss of Crown Ltd. for the year ended 31.3.2018:
| Particulars | Amount (₹) |
| Income: | |
| Revenue from operations | 2,00,000 |
| Other Incomes | 15,000 |
| Total Revenue | 2,15,000 |
| Expenses: | |
| Cost of Materials Consumed | 1,10,000 |
| Other Expenses | 5,000 |
| Total Expenses | 1,15,000 |
| Tax | 40,000 |
You are required to prepare a common size statement of P & L of Crown Ltd. for the year ended 31.03.2018.
Solution:
CROWN LTD.
COMMON SIZE INCOME STATEMENT
As at 31.3.2018
| Particulars | Note No. | Absolute Amounts
₹ |
% of Revenue from Operations |
| Revenue from Operations | 2,00,000 | 100 | |
| Other Incomes | 15,000 | 7.5 | |
| Total Revenue (Revenue from Operations + Other Incomes) | 2,15,000 | 107.5 | |
| Expenses: | |||
| Cost of Materials Consumed | 1,10,000 | 55 | |
| Other Expenses | 5,000 | 2.5 | |
| Total Expenses | 1,15,000 | 57.5 | |
| Profit before Tax (Total Revenue – Expenses) | 1,00,000 | 50 | |
| Less: Tax | 40,000 | 20 | |
| Profit after tax (Profit before Tax – Tax) | 60,000 | 30 |
Question 3
What are Common Size Statements?
Answer: Common Size Statements express all items of a financial statement as a % of some common base such as revenue from operations for P & L statement and total assets for the balance sheet.
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