Question

10
Group - C
From the following information, prepare a Comparative Income Statement of S. Ltd. :
2017
2018
₹
Sales
Cost of goods sold
Administrative, Selling and Distribution Expenses
Other Income
Income Tax
15,00,000
12,00,000
90,000
30,000
50%
21,00,000
15,00,000
1,20,000
60,000
50%
-
7. Following information are related to Fax. Ltd. :
(i) Equity Share Capital 10,000 Equity Shares @ * 10 each.
(ii) Preference Share Capital 5,000, 10% Preference Shares of 20 each.
(iii) Reserves and Surplus — * 60,000.
(iv) External Liabilities — * 20,000.
(v) Profit on revaluation of fixed assets - 10,000.
(vi) Average trading profit after tax — 360,000.
(vii) Normal rate of return on Capital Employed 10%.
(vii) Goodwill is to be valued at 3 years' purchase of super profit.
(ix) Transfer to Reserve 10%.
From the above information, calculate the value of shares of Fax Ltd. under (a) Asset Backing Method
and (b) Yield Method.
10
Please Turn Over​

Answer 1

Explanation:

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