Financial Statements of Company: Class 12 Previous Year Questions

Financial Statements of Company questions asked in CBSE board exams

Repeated questions first. Open the free app to see each question as it appeared in the paper, with its marking scheme.

1. From the following balance sheet of Benkley Ltd., prepare a Comparative Balance Sheet : Balance Sheet of Benkley Ltd. as at 31st March, 2025 Particulars Note 31.3.2025 31.3.2024 No. (3) () Equity and Liabilities : 1. Shareholders'funds Share capital 18,00,000 …
   Board 20263 marksshort answerRepeated: 2022,2025,2026
2. Classify the following items under major heads and sub-heads (if any) in the Balance Sheet of the company as per Schedule-III, Part-I of the Companies Act, 2013 : (i) Stores and Spare parts (ii) Livestock (ii) Public Deposits
   Board 20263 marksshort answerRepeated: 2025,2026
3. From the following Balance sheets of Royal Sugar Mills Ltd. as at 31st March, 2024 and 2025, prepare a Comparative Balance Sheet : Particulars Note 31-3-2025 31-3-2024 No. () () I. Equity and Liabilities : 1. Shareholders' Funds Share Capital 24,00,000 20,00,0…
   Board 20263 marksshort answerRepeated: 2025,2026
4. Following is the Balance Sheet of Meridian Ltd. as at 31st March 2022 and 31st March 2023. Particulars Note No. 31st March2023 31st March 2022 I.EQUITY AND LIABILITIES: 1. Shareholders’ Funds a) Share Capital b) Reserves and Surplus 2. Non–current Liabilities …
   CBSE practice 2023-244 marksshort answerRepeated: 2025,2026
5. l. Classify the following items under the main heads and sub-heads (if any) of the Companys Balance Sheet according to schedule III,partI of Companies Act, 2013 : (i) Outstanding expenses (i) Work-in-progress Capital Advances (ii)
   Board 20263 marksshort answer
6. (a) The process of identifying the financial strengths and weaknesses of the firm by properly establishing relationships between the various items of Balance Sheet and the Statement of Profit and Loss is called : (A) Comparative Statement Analysis (B) Cash Flo…
   Board 20261 markMCQ
7. (a) Bittu and Chintu were partners in a firm sharing profit and losses in the ratio of 4 : 3. Their Balance Sheet as at 31st March, 2024 was as follows : Balance Sheet of Bittu and Chintu as at 31st March, 2024 Amount Liabilities Amount Assets () Fixed Assets …
   Board 20256 markslong answer
8. From the following information of CN Ltd., prepare a common size Statement of Profit and Loss for the years ended 31st March, 2023 and 31st March, 2024 : 2023-24 2022-23 Particulars (3) (3) Revenue from operations 40,00,000 20,00,000 Purchase of stock-in-trade…
   Board 20253 marksshort answer
9. From the following information, prepare a Comparative Statement of Profit and Loss of Smart Ltd. 2023-24 () Particulars 2022-23 () Revenue from operations 24,00,000 20,00,000 Cost of materials consumed 6,00,000 4,00,000 Employee benefit expenses 4,00,000 2,00,…
   Board 20253 marksshort answer
10. l. Under which major heads and sub-heads will the following items be presented in the Balance Sheet of the company as per Schedule III, Part I of the CompaniesAct,2013? (i) Bills receivable (i) Securities premium reserve Calls in advance (ii)
    Board 20233 marksshort answer
11. JJJJ Page 27 27. (i) Which of the following equations is correct : 1 (a) Cost of Revenue from Operations = Revenue from Operations + Gross Profit (b) Cost of Revenue from Operations = Opening Inventory Net Purchases + Direct Expenses Closing Inventory (c) Cost…
    Board 20231 markMCQ
12. (A) Which of the following is a tool of Analysis of Financial Statements ? (a) Statement of Profit & Loss (b) RatioAnalysis (c) Balance Sheet (d) Notes to Accounts OR (B) ratios are calculated to determine the ability of the business to service its debt in the…
    Board 20231 markMCQ
13. Page 10 of 15 11. (H$) lw{V {b{_Q>oS> H$s {ZåZ{b{IV gyMZm go, VwbZmË_H$ bm^-hm{Z {ddaU V¡`ma H$s{OE : 3 {ddaU 2020 21 < 2019 20 < àMmbZm| go AmJ_ 15,00,000 10,00,000 ì`` 3,00,000 2,00,000 H$a Xa 30% AWdm (I) 31 _mM©, 2021 H$mo A{dZme {b{_Q>oS> Ho$ {ZåZ{b{IV pñ…
    Board 20221 markvery short
14. (a) From the following information, calculate the amount of sports material that will be debited to the Income and Expenditure Account of Arjun Sports Club for the year ended 31st March, 2021. Particulars 1st April, 2020 31st March, 2021 (3) () 1,50,000 Stocko…
    Board 20221 markvery short
15. Page 3 of 15 4. (a) From the following information of Kapoor Sports Club , calculate the st March, 2021 : 3 Details Amount < Stock of sports material as on 1st April, 2020 40,000 Creditors for sports material as on 1st April, 2020 8,000 Stock of sports materia…
    Board 20221 markvery short
16. Show the following information in the Balance Sheet of Ashoka Club as on 31.3.2021 : Dr. () Particulars Cr. () Tournament Fund 2,50,000 Tournament Fund Investment 2,50,000 Tournament Expenses 20,000
    Board 20221 markvery short
17. Mac, Jack and Lac were partners in a firm sharing profits and losses in the ratio of 2:2:1 Balance Sheet (extract) as at 31st March, 2023 Liabilities (Rs) Assets (Rs) Workmen’s Compensation Reserve 5,00,000 On Jack’s retirement from the firm on 1st April, 2023…
    CBSE practice 2023-243 marksshort answer
18. Classify the following items under Major heads and Sub-head (if any) in the Balance Sheet of a Company as per schedule III of the Companies Act 2013. (i) Current maturities of long term debts (ii) Furniture and Fixtures (iii) Provision for Warranties (iv) Inco…
    CBSE practice 2022-233 marksshort answer
19. Klen Ltd. was registered with an authorized capital of Rs.10,00,000 divided into Equity Shares of Rs 10. Out of these 8,000 shares were issued to vendors as fully paid as purchase consideration for a business acquired. The company offered 20,000 shares for pub…
    CBSE practice 2023-244 marksshort answer
20. Workmen Compensation Reserve was appearing in the Balance Sheet at ₹ 4,00,000. At the time of admission of partner Sohail, claim for workmen compensation was ₹ 4,50,000. Determine the amount to be shown in Revaluation Account. A. Debited ₹ 4,50,000 B. Credited…
    CBSE practice 2023-241 markMCQ

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