The term Fixed Assets includes ……………..
- AStock – in – Trade
- ✓Furniture
- CPayments in Advance
Answer: B.
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Choose the correct answer.
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8 Q→03True or False.
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Answer: B.
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View full solution →Answer: C.
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View full solution →Short Answer Question
State the meaning of financial statements?
| Particulars | 2015-16 ₹ | 2016-17 ₹ |
| Revenue from operations | 4,00,000 | 5,00,000 |
| Other income | 80,000 | 50,000 |
| Expenses | 2,40,000 | 2,50,000 |
| Income Tax | 30% | 30% |
| Particulars | 1990 ₹ | 1991 ₹ | 1992 ₹ | 1993 ₹ | 1994 ₹ | 1995 ₹ |
| Stock | 1,50,000 | 1,70,000 | 1,90,000 | 2,30,000 | 2,20,000 | 2,00,000 |
| Debtors | 1,40,000 | 1,20,000 | 80,000 | 90,000 | 1,00,000 | 1,00,000 |
| Cash | 60,000 | 50,000 | 50,000 | 60,000 | 90,000 | 1,00,000 |
| Current liabilities | 3,00,000 | 3,20,000 | 3,00,000 | 2,80,000 | 2,40,000 | 2,00,000 |
| Year | Sales ₹ | Cost of Good Sold ₹ | Profit beforeTax ₹ |
| 2005 | 600 | 360 | 120 |
| 2006 | 680 | 414 | 138 |
| 2007 | 840 | 512 | 186 |
| 2008 | 960 | 574 | 204 |
| 2009 | 1040 | 600 | 228 |
| 2010 | 1200 | 666 | 300 |
| Particulars | $31^{st}$ March 17 | 31.03 .16 |
| Revenue from operations | 38,000 | 48,000 |
| Other Incomes | 4,000 | 4,000 |
| Total Revenue | 42,000 | 52,000 |
| Expenses | ||
| Cost of materials consumed | 28,000 | 34,000 |
| Finance Cost | 4,000 | 8,000 |
| Other Expenses | 2,000 | 2,000 |
| Total Expenses | 34,000 | 44,000 |
| Profit before Tax | 8,000 | 8,000 |
| Particulars | 2012-13 | 2011-12 |
| Revenue from operations | 20,00,000 | 15,00,000 |
| Other Incomes | 10,00,000 | 4,00,000 |
| Expenses | 21,00,000 | 15,00,000 |
| Tax 50% |
| Particulars |
|
|
| I. EQUITY AND LIABILITIES | ||
| Shareholder’s Funds | $2,00,000$ | |
| Non-Current liabilities | $1,60,000$ | |
| Current liabilities | $40,000$ | |
| Total | $4,00,000$ | |
| II. ASSETS | ||
| Non- Current assets | $3,00,000$ | |
| Current assets | $1,00,000$ | |
| Total | $4,00,000$ |
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