[Option I] Question 11 (Choice 2) [Analysis of Financial Statements]

Last updated at April 16, 2024 by

From the following Balance Sheets of Vinayak Ltd. as at 31st March,2021, Prepare a Common-size Balance Sheet.

                        Vinayak Ltd. Balance Sheet as on 31st March, 2021
Particulars  Note no.  31.3.2021  31.3.2020
I EQUITY AND LIABILITIES       
1. Shareholder's Funds:       
a. Share Capital    30,50,000 20,00,000
b. Reserve and Surplus    2,80,000 6,00,000
2. Current Liabilities:       
a. Trade Payable    6,70,000 4,00,000
Total    40,00,000 30,00,000
II ASSETS 1. Non-Current Assets:     
a. Fixed Assets:       
i. Tangible Assets    16,00,000 12,00,000
ii. Intangible Assets    2,00,000 3,00,000
2. Current Assets       
a. Inventories    8,00,000 3,00,000
b. Trade Receivables    12,00,000 10,00,000
c. Cash and Cash Equivalents  2,00,000 2,00,000
Total    40,00,000 30,00,000

 

Answer

Particulars Note No. Absolute Amount Percentage of Balance Sheet Total
    31-Mar-20 31-Mar-21 31-Mar-20 31-Mar-21
        % %
I. EQUITY AND LIABILITIES          
      1. Shareholders Funds          
         (a)  Share Capital   2000000 3050000 66.66666667 76.25
         (b)  Reserve and Surplus   600000 280000 20 7
           
     2. Current Liabilities          
         (a)  Trade Payables   400000 670000 13.33333333 16.75
           
TOTAL   3000000 4000000 100 100
           
II. ASSETS          
      1. Non-Current Assets          
         (a) Fixed Assets          
            (i) Tangible Assets   1200000 1600000 40 40
            (ii) Intangible Assets   300000 200000 10 5
           
      2. Current Assets          
         (a) Inventories   300000 800000 10 20
         (b) Trade Receivables   1000000 1200000 33.33333333 30
         (c ) Cash and Cash Equivalents   200000 200000 6.666666667 5
           
TOTAL   3000000 4000000 100 100

 

 

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Transcript

From the following Balance Sheets of Vinayak Ltd. as at 31st March,2021, Prepare a Common-size Balance Sheet. Vinayak Ltd. Balance Sheet as on 31st March, 2021 Particulars Note no. 31.3.2021 31.3.2020 I EQUITY AND LIABILITIES 1. Shareholder's Funds: a. Share Capital 30,50,000 20,00,000 b. Reserve and Surplus 2,80,000 6,00,000 2. Current Liabilities: a. Trade Payable 6,70,000 4,00,000 Total 40,00,000 30,00,000 II ASSETS 1. Non-Current Assets: a. Fixed Assets: i. Tangible Assets 16,00,000 12,00,000 ii. Intangible Assets 2,00,000 3,00,000 2. Current Assets a. Inventories 8,00,000 3,00,000 b. Trade Receivables 12,00,000 10,00,000 c. Cash and Cash Equivalents 2,00,000 2,00,000 Total 40,00,000 30,00,000 Answer Particulars Note No. Absolute Amount Percentage of Balance Sheet Total 31-Mar-20 31-Mar-21 31-Mar-20 31-Mar-21 % % I. EQUITY AND LIABILITIES 1. Shareholders Funds (a) Share Capital 2000000 3050000 66.66666667 76.25 (b) Reserve and Surplus 600000 280000 20 7 2. Current Liabilities (a) Trade Payables 400000 670000 13.33333333 16.75 TOTAL 3000000 4000000 100 100 II. ASSETS 1. Non-Current Assets (a) Fixed Assets (i) Tangible Assets 1200000 1600000 40 40 (ii) Intangible Assets 300000 200000 10 5 2. Current Assets (a) Inventories 300000 800000 10 20 (b) Trade Receivables 1000000 1200000 33.33333333 30 (c ) Cash and Cash Equivalents 200000 200000 6.666666667 5 TOTAL 3000000 4000000 100 100

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CA Maninder Singh is a Chartered Accountant for the past 14 years and a teacher from the past 18 years. He teaches Science, Economics, Accounting and English at Teachoo