CUET UG Accountancy — Financial Statements previous year questions with solutions.
Identify the term that indicate excess of Expenditure over Income, in case of a Not-for-profit Organisation.
Identify the other name by which Liquid ratio is known :
Calculate subscription of current year to be credited to Income and Expenditure account from the following information : Subscription Received Rs. 80,000, Subscription Received in Advance Last year Rs. 10,000, Subscription Received in Advance during this year Rs. 2,000 and Accrued Subscription at the end of current year Rs. 5,000 :
Arrange the following items of statement of profit and Loss in a sequence. (A) Total Revenue (B) Revenue from Operations (C) Other Income (D) Expenses (E) Profit Before Tax Choose the correct answer from the options given below :
Cave Ltd. made a profit of Rs. 1,50,000 after charging depreciation of Rs. 30,000 on assets and a transfer to general reserve of Rs. 30,000. The Goodwill amortised was Rs. 9,000 and gain on sale of machinery was Rs. 5,000. Operating profit before working capital changes will be :
Calculate cash flow from financing Activities of X Ltd. which is a financing company. Issue of shares Rs. 1,00,000 Issue of Bonus shares Rs. 50,000 Dividend paid Rs. 10,000 Interest paid Rs. 5,000
Intangible assets should be recognised by fulfilling the criteria as recognised under :
Identify the correct sequence of different items to be shown in a Balance-Sheet of a company. (A) Trade payable (B) Non-Current Investments (C) Deferred tax Liabilities (D) Intangible Assets (E) Long term borrowing Choose the correct answer from the options given below :
Match List - I with List - II. | List - I | List - II | |---|---| | (A) Share Capital | (I) 10% debenture | | (B) Reserve and Surplus | (II) Interest accrued and due | | (C) Non-current Liability | (III) Share forfeited account | | (D) Current Liability | (IV) Capital Redemption Reserve | Choose the correct answer from the options given below :
Calculate the amount of cash from sale of machinery from the following items : A machine costing Rs. 20,000 having book value of Rs. 15,000 is sold for Rs. 12,000 and depreciation charged during the year was Rs. 8,000. The opening and closing balance in machinery account was Rs. 1,80,000 and Rs. 1,72,000 respectively.
Tax paid on capital gains by the company is shown in Cash Flow Statement as :
Subscription Received in Advance is a :
What will be the accounting treatment of outstanding expenses in the Income and Expenditure A/c. (A) Added in main or concerned head (B) Subtracted from main head (C) Shown in Balance-Sheet as Liability (D) Will not be shown in Income and Expenditure A/c (E) Shown in Receipt and Payment A/c only Choose the correct answer from the options given below :
Match List I with List II | LIST I | LIST II | |---|---| | A. Operating Profit Ratio | I. Solvency Ratios | | B. Working Capital Turnover Ratio | II. Liquidity Ratios | | C. Debt-Equity Ratio | III. Activity Ratios | | D. Quick Ratio | IV. Profitability Ratios | Choose the correct answer from the options given below:
Match List I with List II | LIST I | LIST II | |---|---| | A. Capital Reserve | I. Current Assets | | B. Inventories | II. Non-Current Liabilities | | C. 8% Debentures | III. Current Liabilities | | D. Provision for tax | IV. Reserve and Surplus | Choose the correct answer from the options given below:
Which of the following item is not a tool of financial statement analysis?
Which of the following items are part of Intangible non current Assets: A. Patents B. Furniture C. Statement of Profit & Loss A/c (Dr) D. Goodwill E. Trademark Choose the correct answer from the options given below:
The following are the items appearing in Equities and Liabilities side of Balance Sheet A. Deferred tax Assets (Net) B. Reserve and Surplus C. Deferred tax Liabilities (Net) D. Long term borrowings E. Long term loans and Advances Choose the correct answer from the options given below:
Arrange the following in the context of Statement of Profit and Loss. A. Other income B. Expenses C. Total Revenue D. Revenue from operation E. Profit before tax and extra-ordinary item Choose the correct answer from the options given below:
Match List I with List II | LIST I | LIST II | |---|---| | A. Horizontal Analysis | I. Common size statement | | B. Vertical Analysis | II. Comparative statement | | C. External Analysis | III. Access to all published and unpublished information | | D. Internal analysis | IV. Access only to published information | Choose the correct answer from the options given below:
Arrange the following in the context of Cash Flow Statement A. Calculation of cash flow from Operating Activities B. Calculation of cash flow from Financing Activities C. Calculations of net increase/decrease in cash and cash equivalent during the year D. Calculation of cash flow from Investing Activities E. Calculation of net profit before tax and extraordinary item Choose the correct answer from the options given below:
Match List I with List II | LIST I | LIST II | |---|---| | A. Employee benefit expenses | I. Investing activity | | B. Dividend received | II. Operating activity | | C. Loan raised | III. Extraordinary item | | D. Proceeds from earthquake disaster management | IV. Financing activity | Choose the correct answer from the options given below:
| Particulars | Amount (Rs.) | |---|---| | Inventory at the beginning | 40,000 | | Credit Purchase | 1,60,000 | | Inventory at the end | 38,000 | | Trade payable at the beginning | 14,000 | | Trade payable at the end | 14,500 | Cash paid for inventory is:
Loss on sale of furniture is