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Question.1 Prepare a value added statement for the year ended on 31.3.

2018 and reconciliation of total


value added with profit before taxation, from the Profit and Loss Account of Futures Ltd. for the year
ended on 31.3.2018:
( in ‘000)
Income :
Sales 24,400
Other Income 508 24,908
Expenditure :
Operating cost 22,360
Interest on Bank Overdraft 75
Interest on 9% Debentures 1,200 23,635
Profit before Depreciation 1,273
Depreciation 405
Profit before tax 868
Provision for tax 320
Profit after tax 548
Proposed Dividend 48
Retained Profit 500
The following additional information are given:
(i) Sales represents Net sales after adjusting Discounts, Returns and GST
(ii) Operating cost includes ₹82,50,000 as wages, Salaries and Other benefits to Employees.
(iii) Bank Overdraft is temporary. [DEC., 2008 – 8 marks – New Course]

Question 2. Value Added Ltd. furnishes the following Profit and Loss A/c :
Profit and Loss A/c for the year ended 31st March, 2017
Income Notes ₹(‘000)
Turnover 1 29,874
Other Income 1040
30,914
Expenditure
Operating expenses 2 28693
Interest on 8% Debenture 987
Interest on Cash Credit 3 151
29,831
Profit before depreciation 1,083
Less : Depreciation (342)
Profit before tax 741
Provision for tax 376
Profit after tax 365
Less : Transfer to Fixed Assets replacement reserve (65)
300
Less : Dividend paid (125)
Retained Profit 175
Notes:
(1) Turnover is based on invoice value and net of GST.
(2) Salaries, Wages and other employee benefits amounting to ₹ 14,761 (‘000) are included in
operation expenses.
(3) Cash Credits represents a temporary source of finance. It has not been considered as a part of
capital.
(4) Transfer of ₹ 54 (‘000) to the credit of deferred tax account is included in provision for tax.
Prepare value added statement for the year ended 31st March, 2017 and Reconcile total value
added with profit after taxation and application of value added. [Nov. 2007 – 8 marks]

Question.3. Alpha Co. provides you with the following information :


Equity share capital ₹ 100 lakhs
8% Secured Loans ₹ 20 lakhs
10% Unsecured Loans ₹ 30 lakhs
Profit after tax ₹ 15,83,000
Rate of Tax 40%
Normal Bank Rate 12%
You are required to Calculation EVA for Alpha Co. [RTP – Nov. 2006]

Question.4
Equity Share Capital 10,00,000
Reserves and Surplus 3,00,000
12% preference share capital 2,00,000
10% Debentures 4,00,000
Immovable property (held as investment) 1,00,000
Profit after tax 2,00,000
Rate of tax 40%
Companies with Beta factor of 1 in similar business have market rate of return 15%. Beta factor
of X Ltd. is 1.1 Calculate EVA assuming Risk Free Return – 7%.

Question.5. From the following data compute the Economic Value Added:

Share Capital ₹ 1,600 crores


Long-term Debt 10% ₹ 320 crores
Interest ₹ 32 crores
Reserve and Surplus ₹ 3,200 crores
Profit before Interest and Tax ₹ 1,432 crores
Tax Rate 30%
Beta Factor 1.05
Market rate of Return 14%
Risk Free Rate 10%

Question.6 Equity Share Capital ₹ 5,00,000


13% Preference Share Capital ₹ 2, 00,000
Reserve and Surplus ₹ 6, 00,000
Non trade investment (Face value ₹ 1, 00,000) Rate of Interest 10%
20% Debentures ₹ 3, 00,000
Profits before tax ₹ 2,00,000
Tax Rate 40%
WACC 13%
Calculate EVA
Question.7 From the following information concerning Nebula Ltd., prepare a statement showing
computation of EVA for the year ended 31st March 2004 :
Summarised Profit and Loss Account
For the year ended 31st March 2004

₹ ₹
Sales 20,00,000
Cost of goods sold 12,00,000
Gross Profit 8,00,000
Expenses :
General 2,00,000
Office and administration 2,50,000
Selling and distribution 64,000 5,14,000
Profit before interest and tax (PBIT) 2,86,000
Interest 36,000
Profit before tax (PBT) 2,50,000
Tax 40% 1,00,000
Profit after tax 1,50,000
Summarised Balance Sheet as on 31st March 2004

Liabilities Amount Assets Amount


Equity Shares 2,40,000 Fixed Assets (Net) 6,00,000
Reserves 1,60,000 Current Assets
Term Loan 2,40,000 Stock 1,20,000
Current Liabilities 1,60,000 Debtors 60,000
Bank 20,000
8,00,000 8,00,000
Other Particulars:
(a) Cost of goods includes depreciation expense of ₹ ,60,000
(b) The expectation return of Shareholders is 12%

Question.8 The following information is available of a concern; Calculate E.V.A.:


Debt capital 12% ₹ 2,000crores
Equity capital ₹ 500crores
Reserve and Surplus ₹ 7,500crores
Risk-free rate 9%
Beta factor 1.05
Equity (maker) risk premium 10%
Operating profit after tax ₹2,100crores
Tax rate 30%

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