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WorksheetsFINANCIAL STATEMENT ANALYSIS
Total questions: 15
Worksheet time: 8mins
Under which major head will the following be shown:
(i) Share Capital; and (ii) Money Received Against Share Warrants?
Shareholders Fund
Reserves and Surplus
Under which sub-head will the following be classified or shown:
(i) Long-term Borrowings; (ii) Deferred Tax Liabilities (Net); and (iii) Long-term Provision?
Non Current Liabilities
Other Non Current Liabilities
Under which main head and sub-head of Equity and Liabilities part of the Balance Sheet are the following item classified or shown:
(i) Bonds; (ii) Debentures
Long term borrowings & Long term provision
Non current Liabilities & other Current Liabilities
Non current liabilities and long term borrowings
Classify the following items under major head and sub-head (if any) in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013: (i) Capital Work-in-Progress: (ii) Provision for Warranties
i) Fixed Asset & ii) Non current Liabilities
i) Fixed Asset & ii)Current Assets
Under which heads the following items are classified or shown on the Assets part of the Balance Sheet of a company: (i) Loose Tools
Non current assets and Trade Receivables
Current Assets & Trade Receivables
Current assets & Inventories
Identify the major heads under which the following items will be shown in the Balance Sheet of a company as per Schedule III of Companies Act, 2013:
(i) Provision for Tax.(ii) Loan payable on demand.
Non Current Liabilities
Current Liabilities
Classify the following item under major head and sub-head in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013: i) Income received in Advance
Current Liabilities
Short term provision
Other current liabilities
Short term borrowings
Under which major head and sub-head of the Assets part of the Balance Sheet will the following be shown: Stores and Spares.
Current Investments
Current Assets
Inventories
Other Current Assets
State any two items that are included in the following major head under which liabilities of a company are shown: (i) Short term Borrowings.
Loans repayable on demand
Unpaid dividends
Current assets include only those assets which are expected to be realized within……
(A) 3 months
(B) 6 months
(C) 1 year
(D) 2 years
A Company’s liquid assets are Rs.5, 00,000 and its current liabilities are Rs.3, 00,000. Thereafter, it paid Rs.1, 00,000 to its trade payables. Quick ratio will be:
1.33:1
2.5:1
1.67:1
2:1
Assertion (A): Current ratio is computed to assess the short-term financial position of the enterprise. Reason (R): Current ratio explains the relation between long term assets and current liabilities of a business.
(A) Both (A) and (R) are correct and (R) is the correct explanation of (A)
(B) Both (A) and (R) are correct and (R) is not the correct explanation of (A)
(C) (A) is correct, but (R) is incorrect
(D) (A) is incorrect, but (R) is correct
Revenue from Operations Rs.2, 00,000; Inventory Turnover ratio 5; Gross Profit 25%. Find out the value of Closing Inventory, if Closing Inventory is Rs.8, 000 more than the Opening Inventory.
Rs.38, 000
Rs.22, 000
Rs.34, 000
Rs.26, 000
Opening Inventory Rs.1,00,000; Closing Inventory Rs.1,50,000; Purchases Rs.6,00,000; Carriage Rs.25,000; wages Rs.2,00,000. Inventory Turnover Ratio will be:
6.6 Times
7.4 Times
7 Times
6.2 Times
The quick ratio is 1.8:1, the current ratio is 2.7:1 and current liabilities are Rs 60,000. Determine the value of the stock.
Rs 54,000
Rs 60,000
Rs 1, 62,000
None of the above
