Get Started
Start Free Mocks
CUETMOCK

Ace Your

CUET Preparation Today

Start Free Mocks
Home Questions ZRUJUU42UJ
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

Value of reserves and surplus on 31 March 2024 stood at: 

Options:

₹15,00,000

₹14,00,000

₹13,00,000

₹16,00,000

Correct Answer:

₹13,00,000

Explanation:

The correct answer is option 3- ₹13,00,000.

Reserves & surplus in 2023 = 14 lakhs
Change in reserves & surplus = (1,00,000) lakh 
Change in reserves & surplus is given in bracket means it is a negative figure.

Reserves & surplus in 2024 - Reserves & surplus in 2023 = Change in reserves & surplus
Reserves & surplus in 2024 - 14,00,000 = (1,00,000)
Reserves & surplus in 2024 = (1,00,000) + 14,00,000
                                        = 13,00,000


CUET Questions