MAHARISHI VIDYA MANDIR, RATANPUR

WORKSHEET 1
CLASS 12 - ACCOUNTANCY

Section A

1 From the following statement of profit and loss of Madhu Co. Ltd., prepare comparative [4]
statement of profit and loss for the year ended March 31, 2016 and 2017:

2 From the following Balance Sheet of Jeevan Ltd. as at 31𝑠𝑡 March, 2022, prepare a Comparative [4]
Balance Sheet: Balance Sheet of Jeevan Ltd. as at 31 𝑠𝑡 March, 2022

3 From the following Statement of Profit and Loss of Kalyan Ltd. prepare a Comparative [4]
Statement of Profit and Loss for the year ended 31 𝑠𝑡 March, 2022:
4 From the following particulars obtained from the books of MarkLtd., prepare a Comparative [4]
Statement of Profit and Loss:

5 Prepare Comparative Statement of Profit and Loss from the following: [4]

6 From the following information prepare Comparative Balance Sheet of X Ltd.: [4]

7 From the following Balance Sheet of XXLtd. prepare a Comparative Balance Sheet as at [4]
31.3.2022:
8 Following is the statement of profit and loss of Sun India Ltd for the year ended 31st March, [4]
2019.

You are required to prepare a comparative statement of profit and loss of Sun India Ltd from
the given statement of profit and loss.

9 Prepare a comparative statement of profit and loss from the following information extracted [4]
from the statement of profit and loss of Fun Sports Ltd for the year ended 31st March, 2015.

10 From the following information, prepare a Comparative Statement of Profit and Loss for the [4]
year ended 31𝑠𝑡 March, 2022 and 2023:
11 Prepare common size statement of profit and loss from the followinginformation: [4]

12 From the following Statement of Profit and Loss of Alpha Ltd. for the year ended 31 March,
𝑠𝑡
[4]
2022, prepare a Common Size Statement of Profit and Loss :

Statement of Profit and Loss of Alpha Ltd. for the year ended 31𝑠𝑡 March, 2022

13 Prepare a Common Size Balance Sheet of Ayush Ltd. from the following information: [4]
14 Fill in the amounts left blank in the following Common Size Statement of Profit and Loss for the [4]
year ended 31𝑠𝑡 March, 2019:

Common - Size Statement of Profit & Loss

for the years ended 31𝑠𝑡 March, 2019

15 From the following information, prepare a Common Size Statement of Profit and Loss for the [4]
year ended 31st March, 2021 and 31st March, 2022:

16 From the following information, prepare a Common Size Statement of Profit and Loss of X Ltd., [4]
for the year ended 31𝑠𝑡 March, 2022:
17 The following balance sheets relate to Manoj Computers Ltd. convert these into common size [4]
balance sheet and interpret the same: BALANCE SHEETS as at 31𝑠𝑡 March

18 Prepare a common size Balance Sheet and comment on the financial position of A Ltd. and B [4]
Ltd. The Balance Sheets of A Ltd. and B Ltd. as at 31.3.2023 are given below:
19 From the following Balance Sheets of Moon Ltd., as at 31st March, 2023 prepare a common size [4]
Balance Sheet.

Moon Ltd.

BALANCE SHEET as at 31st March, 2023

20 From the information extracted from the Statement of Profit and Loss of K Ltd. for the years [4]
ended 31𝑠𝑡 March, 2017 and 31 𝑠𝑡 March, 2018, prepare a Common Size Statement of Profit and
Loss.

21 Pawan and Govind are partners sharing profits in the ratio of 3 : 2. They decided to admit Rahul [3]
as a partner from 1 𝑠𝑡 April, 2023on the following terms:
2
1. Rahul will be given5 th share of the profit.
2. Goodwill of the firm will be valued at two years’ purchase of three years’ normal average
profit of the firm.
Profits of the previous three years ended 31𝑠𝑡 March, were:
2023 - Profit ₹ 30,000 (after debiting loss of stock by fire ₹ 40,000).
2022 - Loss ₹ 80,000 (includes voluntary retirement compensation paid ₹ 1,10,000).
2021 - Profit ₹ 1,10,000 (including a gain (profit) of ₹ 30,000 on the sale of fixed assets).
Calculate the value of goodwill.
22 Profits of a firm for the year ended 31 March for the last five years were:
𝑠𝑡
[3]

Calculate value of goodwill on the basis of

three years’ purchase of Weighted Average Profit after assigning weights 1, 2, 3, 4 and 5
respectively to the profits for years ended 31𝑠𝑡 March, 2019, 2020, 2021, 2022and 2023.

23 The average profits of a firm is₹ 48,000. The total assets of the firm are ₹ 8,00,000. Value of [3]
other liabilities is ₹ 5,00,000. Average rate of return in the same business is 12%.Calculate the
value of goodwill according to capitalisation of Super Profits Method.

24 Pran and Ron were partners in a firm with a combined capital of₹ 3,00,000. The normal rate of [3]
return was 15%. The profits of the last four years were as follows:

The closing stock

for the year 2022 - 23 was undervalued by₹ 10,000. Calculate goodwill of the firm based on
capitalisation of super profit.

25 The total capital of the firm of Shikha, Meenaand Maanis₹ 1,00,000 and the market rate of [3]
interest is 15%. The net profits for the last 3 years were ₹ 30,000; ₹ 36,000 and ₹ 42,000.
Goodwill is to be valued at 2years purchase of the last 3 years’ super - profits. Calculate the
goodwill of the firm.
26 1. The goodwill of a firm is to be worked out at three years’ purchase of the average profits [3]
of the last five years which are as follows:

1. The capital of the firm is₹ 1,00,000 and the normal rate of return is 8%, the average
profits for the last 5 yearsare ₹ 12,000 and goodwill is to be worked out at 3
years’purchase of super profits,
2. Rama Brothersearn an average profit of₹ 30,000 with a capital of ₹ 2,00,000. The normal
rate of return of the business is 10%.Using capitalisation of super - profits method work
out the value the goodwill of the firm.
27 On 1 April, 2023, a firm had assets of ₹ 3,00,000 including cash of ₹ 5,000. The Partners’
𝑠𝑡
[3]
Capital Accounts were ₹ 2,00,000 and the Reserve being the rest. If the normal rate of return is
10% and the goodwill of the firm is valued at ₹ 2,00,000 at four years’ purchase of super profit,
find the average profit of the firm.
28 Naveen and Raju are partners sharing profits and losses in the ratio of 3 : 2. They admit Shanti [3]
1
into partnership for4 th share in profit. Shanti brings in her share of goodwill in cash. Goodwill
for this purpose is to be calculated at two years’ purchase of the average normal profit of past
 three years. Profits of the last three years ended 31 𝑠𝑡 March, were:
2021 - Profit ₹ 50,000 (including profit on sale of assets ₹ 5,000).
2022 - Loss ₹ 20,000 (including loss by fire ₹ 30,000).
2023 - Profit ₹ 70,000 (including insurance claim received ₹ 18,000 and interest on
investments and Dividend received ₹ 8,000).
Calculate the value of goodwill. Also, calculate goodwill brought in by Shanti.
29 The profits of a firm for the last five years were: [3]

Calculate the value of goodwill on the basis of

two years of purchase of weighted average profits, the weights to be used are 2011 - 1, 2012 -
2, 2013 - 3, 2014 - 4 and 2015 - 5.

30 A partnership firm earned net profits during the last three years ended 31 March, as follows:
𝑠𝑡
[3]
2021 - ₹ 17,000; 2022 - ₹ 20,000; 2023 - ₹ 23,000.
Capital investment in the firm throughout the above - mentioned period has been ₹ 80,000.
Having regard to the risk involved, 15% is considered to be a fair return on the capital.
Calculate value of goodwill on the basis of two yearspurchase of average super profit earned
during the above - mentioned three years.
31 Current Assets of a company were₹ 7,20,000 and its Current Ratio was 2.4 : 1. Afterwards, it [3]
made payment of ₹ 1,00,000 to its creditors. Calculate current ratio after the payment.
32 From the following data, calculate Current Ratio: [3]
Liquid Assets ₹ 37,500; Inventories ₹ 10,000; Prepaid Expenses ₹ 2,500; Working Capital ₹
30,000.
33 Working Capital₹ 4,80,000; Total Debt ₹ 16,00,000; Long Term Debt ₹ 10,00,000; Inventory ₹ [3]
3,40,000; Prepaid Insurance ₹ 20,000. Calculate liquid ratio.
34 Calculate Current Ratio from the following: [3]
Working Capital ₹ 1,92,000; Long - term Debt ₹ 80,000 and Total Debt ₹ 2,00,000.
35 Calculate quick ratio from the information. [3]

36 Current Ratio 4.2 : 1; Current Liabilities₹ 2,00,000. Calculate Current Assets. [3]
37 Calculate Current Ratio from the following: [3]
Working Capital ₹ 1,50,000; Total Liabilities (other than Shareholders’ Funds) ₹ 3,25,000; Long
- term Debts ₹ 2,50,000.
38 From the following compare Current Ratio: [3]
39 Calculate Current Ratio and Quick Ratio from the following Balance Sheet: - [3]

Notes:

40 Total Debt₹ 24,00,000, Current Assets ₹ 10,00,000, Non - Current Assets ₹ 18,00,000, Working [3]
Capital ₹ 2,00,000. Calculate Debt to Capital Employed Ratio.
41 Calculate Debt to Capital Employed Ratio from the following information: [3]
Total Debts ₹ 60,00,000; Current Assets ₹ 25,00,000; Non - Current Assets ₹ 95,00,000;
Working Capital ₹ 5,00,000.
42 Following particulars are obtained from the books of A Ltd. as on 31.3.2023: - [3]

You are required to calculate: -

 1. Working Capital Ratio; 2.Debt Equity Ratio; and
2. Trade Receivables Turnover Ratio if credit revenue from operations are₹ 7,20,000.
43 From the following, calculate the Debt - Equity Ratio: - [3]

44 Following particulars are extracted from the books of Guruji Rubber Ltd.: [3]

You are required to work out the following ratios: -

1. Debt - Equity Ratio 2.Total Assets to Debt Ratio; and 3.Proprietary Ratio
45 From the following information, calculate Return on Investment: [3]

46 Long - term Borrowings₹ 8,00,000, Long - term Provisions ₹ 2,00,000, Current Liabilities ₹ [3]
5,00,000, Non - Current Assets ₹ 22,00,000, Current Assets ₹ 13,00,000. Calculate Debt to
Capital Employed Ratio.
47 Calculate Debt Equity Ratio from the following: [3]

48 Calculate 1.Debt Equity Ratio, 2.Proprietary Ratio and [3]

1. Total Assets to Debt Ratio from the following information:
49 From the following information, calculate Interest coverage Ratio: [3]

50 Fixed Assets₹ 10,00,000; Working Capital ₹ 5,00,000; Cost of Revenue from Operations ₹ [3]
50,00,000; Gross Profit 20% of Cost. Calculate Net Assets or Capital Employed Turnover Ratio.
51 Calculate following ratios on the basis of the following information: [3]
1. Gross Profit Ratio; 2. Current Ratio; 3.Acid Test Ratio; and 4.Inventory Turnover
Ratio.

52 From the given information, calculate: [3]

1. Trade Receivables Turnover Ratio 2. Current Ratio

53 ₹ 1,50,000 is the cost of Revenue from Operations (Cost of Goods Sold), Inventory turnover 8 [3]
times; Inventory at the beginning is 1.5 times more than the inventory at the end. Calculate the
values of Opening & Closing inventories.
54 From the following information calculate Gross Profit Ratio, Inventory Turnover Ratio, and [3]
Trade Receivables Turnover Ratio.
55 From the following information, calculate Inventory Turnover Ratio: [3]
Purchases ₹ 10,00,000; Revenue from Operations (Sales) ₹ 12,00,000; Direct Expenses ₹
48,000; Gross Profit Ratio 15% on Revenue from Operations; Closing Inventory₹ 1,64,000.

56 ₹ 1,75,000 is the Credit Revenue from Operations, i.e., Net Credit Sales of an enterprise. If Trade [3]
Receivables Turnover Ratio is 8 times, calculate Trade Receivables in the Beginning and at the
end of the year. Trade Receivables at the end is ₹ 7,000 more than that in the beginning.
57 Calculate Closing Trade Receivables from the following information: [3]
Cost of Revenue from Operations: ₹ 16,00,000
Gross Profit on Cost: 25%
Cash Revenue from Operations: 25% of Credit Revenue from Operations
Trade Receivables Turnover Ratio: 5 Times
Closing Trade Receivables were 1.5 times than that in the beginning.
58 Calculate the Total Assets to Debt Ratio from the following information: [3]

59 Capital Employed₹ 2,00,000, Working Capital ₹ 40,000. Cost of Revenue from Operations ₹ [3]
6,40,000, Gross Profit ₹ 1,60,000. Calculate Fixed Assets/Non - current Assets Turnover Ratio.
60 A company earns a gross profit of 25% on cost. Its credit revenue from operations are twice its [3]
cash revenue from operations. If the credit sales are₹ 8,00,000, calculate the gross profit ratio
of the company.
61 From the following information, calculate any two of the following ratios: [3]
1. Operating Ratio 2. Inventory Turnover Ratio 3. Proprietary Ratio

62 A Trader carries an Average Inventory of₹ 1,00,000. His Inventory Turnover Ratio is 8 Times. [3]
He sells goods at a profit of 25% of cost. Calculate Gross Profit Ratio.
63 From the following information obtained from the books of KamalLtd., Calculate (i) Gross Profit [3]
Ratio and (ii) Net Profit Ratio
64 Calculate Operating Profit Ratio and Operating Ratio from the following: - [3]
Net Revenue from Operations ₹ 4,00,000; Cost of Revenue from Operations ₹ 2,50,000;
Operating Expenses ₹ 90,000.
65 Calculate Operating Profit Ratio and Operating Ratio from the following: - [3]
Cash Revenue from Operations ₹ 2,00,000; Credit Revenue from Operations ₹ 1,30,000;
Revenue from Operations Return (Sales Returns) ₹ 10,000; Cost of Revenue from Operations ₹
1,80,000; Office and Administration Expenses ₹ 40,000; Selling Expenses ₹ 36,000; Interest on
Debentures ₹ 23,000.
66 Calculate Operating Profit Ratio from the following information: [3]

67 Calculate ‘Operating Profit Ratio’ and ‘Operating Ratio’ from the following information: [3]

68 Mr. Ratan Tata owns a business and gives the following figures for two successive years: - [3]

Mr. Ratan Tata speaks very high of his

Manager who has increased the profits from₹ 15,000 to ₹ 24,000 and describes him very
‘Efficient’. Do you agree with him? If not, why?

69 Calculate Operating Profit Ratio in the following cases: [3]

1. Revenue from Operations (Sales)₹ 7,50,000; Operating Profit ₹ 3,00,000.
2. Revenue from Operations (Sales)₹ 15,00,000
Cost of Revenue from Operations ₹ 12,40,000
Operating Expenses ₹ 35,000
3. Revenue from Operations (Sales)₹ 12,00,000
Gross Profit 20
Operating Expenses ₹ 30,000