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SESSION DEC 2022

PROGRAM BACHELOR OF COMMERCE

SEMESTER III

COURSE CODE & NAME DCM2105– FINANCIAL STATEMENT INTERPRETATION

CREDITS 4

 

  1. “Analysis without interpretation is meaningless and interpretation without analysis is impossible”. In light of the above statement, Discuss concept and significance of financial statement analysis.

Ans: Interpretation means explaining the meaning and significance of the data. These two are complimentary to each other, analysis is useless without interpretation, and interpretation without analysis is difficult or even impossible.

Financial statement

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  1. Explain the components of the Income statement as per the revised Schedule III of the Companies Act 2013.

Ans: Schedule III – Companies Act, 2013 Schedule III of the Companies Act, 2013 specifies how every company registered under the Act must prepare its Statement of Balance Sheet, Income Statement or Profit and Loss Statement and Financial Statement Notes.

General Instructions

 

  1. Prepare a schedule for changes in the working capital from the Balance Sheet data given below:

Ans:

 

 

 

 

 

 

Assignment Set – 2

 

  1. The following figures are extracted from the books of XYZ ltd. as at 30-6-2021
Net sales

Less Cost of goods sold

Gross Profit

Net Profit

Current assets

Inventories

Fixed assets

Total assets

Net worth

Debt

Current Liabilities

Total Liabilities

Working Capital

 

24,00,000

18,00,000

6,00,000

3,60,000

7,60,000

8,00,000

14,40,000

30,00,000

15,00,000

9,00,000

6,00,000

30,00,000

9,00,000

 

Calculate:

  1. Gross profit ratio
  2. Net Profit ratio
  3. Inventory turnover ratio
  4. Working capital turnover ratio

Ans:

 

  1. What do you mean by Annual Report? Explain the constituents of the annual report.

Ans: An annual report is a detailed report on a company’s operations during the previous year. Annual reports are intended to inform shareholders and others who are interested in the company’s activities and financial performance. They could be classified as grey literature. The majority of

 

  1. From the following Balance sheet of a concern for the years 2021 and 2022. Prepare a comparative Balance sheet and comment on the financial position of the concern:
Liabilities 2021 2022 Assets 2021 2022

 

Equity Share capital

 

6,00,000 8,00,000 Land & Buildings

 

3,70,000 2,70,000

 

Reserves & Surplus

 

3,30,000 2,22,000 Plant & machinery

 

4,00,000

 

6,00,000
Debentures 2,00,000 3,00,000 Furniture & Fixtures

 

20,000 25,000

 

Long-term loans on mortgage

 

1,50,000 2,00,000 Other fixed assets

 

25,000 30,000

 

Bills payable 50,000 45,000 Cash in hand and bank

 

20,000 80,000

 

Sundry creditors

 

1,00,000 1,20,000 Bills receivable

 

1,50,000 90,000

 

 

Other current Liabilities

 

5,000 10,000 Sundry Debtors

 

2,00,000 2,50,000

 

      Stock 2,50,000 3,50,000

 

      Prepaid Expenses

 

  2,000

 

  14,35,000

 

16,97,000   14,35,000 16,97,000

 

Ans: