Following is the Balance Sheet of Abhijeet Ltd. as on 31st March 2021. Present the above Balance Sheet in vertical form. OR From the following Income Statement of M/s Star Ltd. Inc... Following is the Balance Sheet of Abhijeet Ltd. as on 31st March 2021. Present the above Balance Sheet in vertical form. OR From the following Income Statement of M/s Star Ltd. Income Statement for the year ended on 31st March, 2022. Prepare the common size revenue statement with amount and percentage in vertical form suitable for analysis.
Understand the Problem
The question involves presenting balance sheets and income statements in vertical format. It specifically addresses the need to format financial data for analysis.
Answer
Present in a vertical format with amounts and percentages.
The vertical Balance Sheet and common size Income Statement are organized to show each entry in a single column, listing all amounts along with percentages for the Income Statement.
Answer for screen readers
The vertical Balance Sheet and common size Income Statement are organized to show each entry in a single column, listing all amounts along with percentages for the Income Statement.
More Information
Vertical financial statements provide clarity by aligning all entries in a single column; this aids in quickly assessing balances and percentages, making financial analysis more straightforward.
Tips
Ensure all totals match to maintain balance in the Balance Sheet. For common size statements, calculate percentages correctly based on total revenue.
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