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Target Exam

CUET

Subject

-- Accountancy Part B

Chapter

Analysis of Financial Statements

Question:

Based on the information provided below, compute and answer.

 

 

Comparative Balance Sheet of Amrit Limited as at March 31, 2023 and March 31, 2024.

(₹ in Lakhs)

 

Particulars 31 March,
2023		 31 March,
2024		 Absolute Increase
 (+) or Decrease (-)		 Percentage Increase 
(+) or Decrease (-)
 I. Equity and Liabilities        
Shareholders' funds        
Share capital 15 20 5  
Reserves and surplus 14 ............ (1) (7.14)
Non- Current liabilities        
Long-term borrowings .............. 19 3 18.75
Current liabilities        
Trade payables 2 3 1 50
Total 47 55 8 17.02
         
II. Assets        
Non-current assets        
Fixed assets        
Tangible assets 15 ............ 5 33.33
Intangible assets 16 19 3 18.75
Current assets        
Inventories  14 13 (1) (7.14)
Cash and Cash Equivalents 2 3 1 ..........
Total 47 55 8 17.02

 

The value of long term borrowings as on 31 March 2023:

Options:

₹22,00,000

₹16,00,000

₹18,00,000

₹7,00,000

Correct Answer:

₹16,00,000

Explanation:

The correct answer is option 2- ₹16,00,000

Long term borrowings on 2024 = 19,00,000
Change in Long term borrowings = 3,00,000
Percentage Change in Long term borrowings = 18.75%

Percentage Change in Long term borrowings = (Change in Long term borrowings / Long term borrowings on 2023) x 100
                                                        18.75 = (3,00,000 / Long term borrowings on 2023) x 100
Long term borrowings on 2023 = (3,00,000/18.75) x 100
                                              = 16,00,000

Thus, long term borrowings on 2023 is 16,00,000.

 

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