Model Paper-1
Accountancy
CBSE - XII
Time Allotted: 3 hours Maximum marks100
General Instructions:
-This Paper is divided into two parts A & B.
-Each part carries 50 marks
-All questions are compulsory
-Each question Carries marks indicated against it.
Part-A (50 marks)
Q 1 Distinguish between Sacrificing ratio and Gaining ratio.(2 mks)
Ans.1 Sacrificing Ratio is the ratio in which the old partners
have to sacrifice their shares in profit in favour of new partners. Whereas
Gaining Ratio is the ratio in which the continuing partners decide
to share the outgoing partner's share in the profits. It is the difference
between the new share and the old share of the continuing partners.
Q 2 X and Y share profits in the ratio 2:1. Z brings in cash Rs.6000
for goodwill for 1/6 Share in the profits and Rs 10000 as capital. The
new firm decides to raise goodwill at its full value. Goodwill already
appears in the books at a value of Rs18000.
Record the above entries. (4)
Ans.2 a) X's capital a/c dr. 12000
Y's capital a/c dr. 6000
To Goodwill a/c 18000
(Being old goodwill written off)
b) Cash a/c dr. 16000
To Z's Capital a/c 16000
(Being goodwill and capital brought in by Z)
c) Z a/c dr. 6000
To X's Capital a/c 4000
To Y's Capital a/c 2000
(Being goodwill distributed among the old partners in old ratio)
d) Goodwill a/c Dr. 36000
To X's capital a/c 20000
To Y's capital a/c 10000
To Z's capital a/c 6000
(Being goodwill raised at its full value in the new ratio 10:5:3)
Q 3 A and B are partners in a firm. X is entitled to a salary of Rs
5000 per month together with a commission of 10% of Net profit before
charging any such commission. Y is entitled to a salary of Rs3000 p.a.
together with a commission of 10% of net profit after charging all commissions.
Net Profit for the year 1999 before charging any commission was Rs55000.Show
the distribution of profit.(6)
Ans. 3 Solution:
Profit and Loss appropriation a/c
| Dr.
Particulars
|
Amount |
Particulars |
Cr.
Amount |
| To A's commission
(55000 X 10/100) |
5500 |
By Profit before any
commission |
55000 |
| To B's commission
{(55000- 5500)X(10/110)} |
4500
|
|
|
| To Net profit tr
Ansferred to:
A - 22500
B - 22500 |
45000
|
|
|
| |
55000
|
|
55000 |
Q 4 What journal entries are made in the books of the firm at the
time of Dissolution regarding the following:
(a) realisation expenses incurred by the firm
(b) unrecorded asset taken over by the partner
(c) asset taken over by creditor (3)
Ans. 4. a)
Realization a/c dr.
To Bank/Cash a/c
(Realization expenses being paid by the firm)
b)
Partner's capital a/c dr.
To Realization a/c
(being unrecorded asset taken over by the partner)
C)
No entry in this case
Q 5. A and B are partners with profit sharing ratio of 2:1.Their balance
sheet on 31.12.99 was as follows:
| Liabilities
Creditors
Bills Payables
Reserve fund
Capitals A's 40,000
B's 30,000
|
Amount
20,000
15,000
12,000
70,000
1,17,000 |
Assets
Debtors 40,000
Less prov. 3,600
Stock
Building
Patents and copy right
Machinery |
Amount
36,400
20,000
25,000
2,000
33,600
1,17,000 |
They admitted C into partnership on this date, New profit sharing
ratio is agreed as 3:2:1
C brings in proportionate capital after the following adjustments:
i. C brings Rs.10,000 in cash as his share of goodwill.
ii. Provision of doubtful debt is to be reduced by Rs.2,400.
iii. There is an old type writer valued at Rs.2,600, which is not recorded
in above balance sheet. Now it is to be recorded.
iv. Patents are value less.
Prepare Revaluation A/c, Capital accounts and opening balance sheet of
A,B and C.(12)
Ans. 5
Revaluation Account
Particulars
To Patent
To
Profit tr
Ansferred to
A's Capital A/c 2,000
B's Capital A/c 1,000 |
Amount
2,000
3,000 |
Particulars
By provision for doubtful
debt- reduced
By unrecorded assets |
Amount
2,400
2,600
|
| |
5,000 |
|
5,000 |
Capital Accounts
| Particulars |
A |
B |
C |
Particulars |
A |
B |
C |
| To A's Cap
To bal c/d |
---
60,000 |
---
35,000 |
10,000 19,000 |
By Balan b/d
By reserve
By reval a/c
By cash a/c
By C's cap a/c |
40,000 8,000 2,000 --- 10,000 |
30,000 4,000 1,000 ---
-- -- |
--
---
--- 29,000 ---
|
| |
60,000 |
35,000 |
29,000 |
|
60,000 |
35,000 |
29,000 |
Balance Sheet
As on 31.3.1999
| Liabilities |
Amount |
Assets |
Amount |
| Creditors
Bills Payables
Capital A's 60,000
B's 35,000
C's 19,000 |
20,000
15,000
1,24,000 |
Cash
Sundry Debtors 40,000
Less prov. 1,200
Stock
Building
Machinery
Type writer |
29,000
38,800
20,000
25,000
33,600
2,600
|
| |
1,49,000 |
|
1,49,000 |
Working notes:
i. Capital of C is calculated as below:
Total capital of A and C after adjustment is Rs.95,000 (60,000+35,000),
which is for 1-1/6=5/6,
So for the whole firm it shall be equal to 95,000 into 6/5 = 1,14,000
For 1/6 it shall be Rs.19,000 (1,14,000 into 1/6)
OR
M, N and O share profit in the proportion of 2:2:1, agreed upon the
dissolution of their partnership on April 1, 1999 on which date their
balance sheet was as under:
Liabilities
Capital:
M's Cap 40,000
N's cap 20,000
M's Loan A/c
Creditors
Life Insurance Policy
Investment Fluct. Fund
|
Amount
60,000
10,000
16,500
14,000
6,000
1,06,500
|
Assets
Machinery
Stock in trade
Investments
Joint life policy
Debtors 10,000
Less prov. 500
O's Capital
Cash at bank |
Amount
40,000
8,000
20,000
14,000
9,500
10,000
5,000
1,06,500 |
Additional Information:
i. The joint life policy is surrendered for Rs,10,000.
ii. The investments are taken over by M for Rs.22,500.
iii. N takes over all the stock at Rs.5000 and debtors amounting to Rs.5000
at Rs.3000.
iv. Machinery is sold for Rs.35,000.
v. The remaining debtors realise 50% of the book value.
vi. It is found that an investment not recorded in the books is worth
Rs.3,000. This is taken over by one of the creditors at this value.
vii. An unrecorded liability is settled at Rs.2,000.
viii. Outstanding expenses amount to Rs.2500.
Prepare necessary ledger accounts on the completion of dissolution of
the firm. (12)
Ans.
| Realisation Account |
| Particulars
To machinery
To stock
To investments
To joint life policy
To debtors
To bank
Creditors 16,500
Less investment taken
over 3,000
To bank unrecorded
liability
To outstanding exp
To profit tr
Ansferred to
Capital accts
M's cap 2,000
N's cap 2,000
O's cap 1,000 |
Amount
40,000
8,000
20,000
14,000
10,000
13,500
2,000
4,500
5,000 |
Particulars
By creditors
By prov. For bad debt
By life policy fund
By investment fluct.fund
By bank:
J.L.P 10,000
Debtors 50%
Of 5000 2,500
Machinery 35,000
By M's capital
(investment)
By N's capital a/c
Stock 5,000
Debtors 3,000
|
Amount
16,500
500
14,000
6,000
47,500
22,500
8,000 |
| |
1,15,000 |
|
1,15,000 |
Capital Accounts
| Particulars |
M |
N |
O |
Particulars |
M |
N |
O |
| To bal b/d
To realis a/c
To cash |
----
22,500
19,500
42,000 |
----
8,000
14,000
22,000 |
10,000
10,000 |
By bal. B/d
By real profit
|
40,000
2,000
---
42,000 |
20,000 2,000
----
22,000 |
---- 1,000 9,000
10,000 |
Bank Account
| Particulars |
Amount |
Particulars |
Amount |
To balance b/d
To realisation assets
Realised
To O's capital a/c
|
5,000
47,500
9,000
61,500
|
By realisation a/c
(creditors paid)
By realisation unrecorded
liab and outstanding exp.
By M's loan a/c
By M's capital a/c
By N's capital a/c |
13,500
4,500
10,000 19,500 14,000
61,500 |
Q 6 Can shares be issued at discount, if yes what are the provisions
regarding it ? (3)
Ans. 6 Under the section 79 of the companies act, a company can
issue shares at discount only if the following conditions are fulfilled:
i. A resolution be passed by the company in its general meeting and sanctioned
by the company law board.
ii.The rate of discount can not exceed 10%
iii.The shares are of a class which has already been issued.
iv.Not less than one year should have been passed, after receiving the
letter of commencement of business.
v. The shares are issued within two months of the date on which the issue
is sanctioned by company Law board
Q 7 Pass the entries to record the issue of debentures in the following
cases:
i. 5,000 15% debentures of Rs.100 each issued at a discount of
5% and redeemable at premium after 5 years
ii. 10,000 15% debentures of Rs.100 each issued at a premium of 10% and
redeemable at par after
6 years. (3)
Ans 7
| i. |
Bank a/c
Loss on issue of debentures a/c
To debentures
A/c
To premium on redemption
of debenture a/c
|
Dr
Dr |
4,75,000
50,000
5,00,000
25,000
|
(Being 5000 debentures issued at discount redeemable at prem)
ii. Bank a/c Dr 11,00,000
To debentures a/c 10,00,000
To premium on issue of debentures 1,00,000
(being 10,000 debentures issued at a prem )
Q 8 ABC limited issued a prospectus inviting applications for 2000
shares of Rs.10 each at prem of Rs.2 per share payable as follows:
On application
On allotment
On first call
On second and final call
|
Rs.2
5 (including premium)
3
2 |
Applications were received for 3000 shares and prorata allotment
was made on the applications for 2,400 shares. Money over paid on applications
was employed on account of sum due on allotment.
Dinesh , to who applied for 48 shares failed to pay allotment money
and on his subsequent failure to pay the first call his shares were forfeited.
Vikas the holder of 60 shares failed to pay the two calls, and his
shares were forfeited after the second call.
Of the shares forfeited, 80 shares were sold to Rajesh credited as
fully paid for Rs.9 per share, the whole of dinesh shares being included.
Show Journal entries and the balance sheet. (12)
Ans.8
Solution
Bank a/c Dr 6,000
To Share application A/c
6,000
(being application money received on 3000 shares)
Share Applications a/c
To share capital a/c
To share allotment a/c
To bank a/c |
Dr 6,000 |
4,000
800
1,200
|
(being application money tr
Ansferred to share capital)
Share allotment a/c Dr 10,000
To share capital a/c 6,000
To share premium a/c 4,000
(for amount due on allotment)
| Bank a/c |
dr
To share allotment a/c
(being amount received on allotment) |
9016
9016 |
Share first call a/c dr 6,000
To share capital
a/c 6,000
(being first call money due on 2000 shares)
Bank a/c dr 5,700
To share first call
a/c 5,700
(being share first call money received except on 100 shares)
Share capital a/c dr 320
Share prem a/c dr 80
To share allotment a/c 184
To share first call 120
To share forfeited a/c 96
(being 40 shares of dinesh forfeited)
Share final call a/c dr 3920
To share
capital a/c 3920
(being share final call made on 1960 shares)
Bank a/c dr 3800
To share final call 3800
(being share final call money received except on 60 shares)
Share capital a/c dr 600
To share first call a/c 180
To share final call a/c 120
To share forfeited a/c 300
(for forfeiture of vikas's 60 shares)
bank a/c dr 720
share forfeited a/c dr 80
To share capital a/c 800
(being 80 shares reissued @ 9 per share)
Share forfeited a/c dr 216
To capital reserve 216
(being share forfeited amount tr
Ansferred to capital reserve)
Balance sheet of ABC limited
| Liabilities
Share capital
Share forfeited
Capital reserve
Share premium |
Amount
19,800
100
216
3,920 |
Assets
Current assets: Cash/bank |
Amount
24,036 |
| |
24,036 |
|
|
OR
On 1st January,1996 the following balances appear in the books of priya
gold limited.
15% debentures
Debenture Red. Reserve fund
Debenture Redemption Fund Investment |
Rs.4,00,000
Rs.3,20,000
Rs. 3,20,000
|
The investment consisted of 4% government securities of the face value
of Rs.3,60,000. The annual instalment came to Rs.65,600. On 31st Dec,
1996 the balance at bank was Rs.104,000 (after receipt of interest). Investment
were realised at 92.5% and debentures were redeemed. Show the ledger accounts.
Solution: Debenture Redemption Fund
| Date
1996
Dec.31 |
Particulars
To General reserve(tr
Ansfer |
Rs.
4,13,000 |
Date
1996
Jan.1
Dec.31
Dec.31
Dec.31 By |
Particulars
By balance b/d
By int. on invst. By profit and loss By deb red. Fund |
Rs.
3,20,000
14,400
65,400
13,000 |
| |
|
4,13,000 |
|
|
4,13,000 |
Debenture Redemption Fund Investment Account
| Date |
Particulars |
Rs. |
Date |
Particulars |
Rs. |
| 1996
Jan.1
Dec.31 |
To bal. B/d
(4% govt
security of
Rs.3,60,000)
To deb. Red.
Res. Fund acct. |
3,20,000
13,000 |
1996
Dec.31 |
By bank a/c
(97.5% of
Rs.3,60,000) |
3,33,000
|
| |
|
3,33,000 |
|
|
3,33,000 |
15% Debenture Account
| Date |
Particulars |
Rs. |
Date |
Particulars
|
Rs. |
1996
Dec.31 |
To bank a/c |
4,00,000 |
1996
Jan.1 |
By bala b/d |
4,00,000
|
| |
|
4,00,000 |
|
|
4,00,000 |
Bank Account
| Date |
Particulars |
Rs. |
Date |
Particulars |
Rs. |
1996
Dec.31 Dec.31 |
To Balance b/d
To debenture
fund invst.
(sale) |
1,04,000
3,33,000 |
1996
Dec.31
Dec.31 |
By debenture
amount paid
By balance c/d |
4,00,000 37,000
|
| |
|
4,37,000 |
|
|
4,37,000 |
Q 9. Give the main headings under which the following
items will be shown in a company's balance sheet as per the schedule vi
part I of companies act, 1956
Bills payable
Share forfeited
Share premium
Live stock
Loose tools (5 marks)
Ans 9
| S no. |
Item |
Heading with sub heading |
| 1.
2
3.
4.
5. |
Bills payable
Share forfeited
Share premium
Live stock
Loose tools |
Current liabilities and
provisions (C.L)
Share capital
Reserve and surplus
Fixed assets
Current assets, lo
Ans and advances
|
Part B (50 marks)
Q 10 I. What is the significance of financial statement ?
Q 10 II. Explain the limitations of financial statement analysis. (6)
Ans 10. Significance & importance of financial statement:
- It is such a statement, which helps the business unit to know exact
financial position i.e. where it stands in monetary terms at a particular
fixed point of time.
i. It provides the detailed information about the efficiency of the management.
ii.It helps the owners as well as the outsiders to assess the long term
& short term solvency of the concern.
iii.It helps in inter firm comparison.
iv.It helps in preparing budget estimates
v. It helps to assess the earning capacity of the business unit.
Limitations of financial statements
i. It may not help to get a definite conclusion.
ii.It only takes into the account the monetary facts whereas the non-monetary
matters may also have the great impact on the financial position of the
co. E.g. Strike
iii. Financial statement alone do not help in forecasting the future pl
Ans
Q 11. Explain the limitations of Ratio analysis
Ans. 11 Ratios are fully dependent on the data, which may or may
not be correct Changes in the price level of base yr. & current year
may be different so the comparison will be different. When the Two firms'
result are being compared, it should be remembered that the firms may
follow different accounting policies, for instance one firm may charge
depreciation on the straight line basis and other on the diminishing value.
Such ifferences will not make some of the accounting ratios strictly comparable.
Q 12Explain the significance of the following ratios and also state
their method of computation:
i. Current ratio
ii. Debt equity ratio
iii. Overall profitability ratio (6)
Ans.12
1) Current ratio = current assets/current liabilities
Significance:It shows the relationship between the current assets and
current liabilities. It is calculated to know that how far the firm is
able to pay off its current liabilities with the help of available current
assets.
2) Debt equity ratio = debt/ equity
Significance: Here debt me
Ans long term liabilities, and equity stands
for share holder funds. It shows the relationship between debt and equity.
It me
Ans that what is the composition of owned and borrowed sources of
finance.
| 3) Over all profitability ratio: |
Profit before interest, tax and dividend
Capital employed
|
It is the ratio of return on investment, it shows that how much capital
employed is utilised efficiently by the firm. It takes the profit which
is before any interest, tax or any dividend.
Q 13 I. Net profit after interest and tax Rs.1,00,000, Current assets
Rs.4,00,000. Current liabilities Rs. 2,00,000, Tax rate 50%. Fixed assets
Rs. 6,00,000. 10% long term debt Rs. 4,00,000. Calculate return on investment.
II. From the following information, determine the opening and closing
stock:
Stock turnover ratio 5 times, total sales Rs.2,00,000, Rate of gross profit
on cost is 33-1/3%. Closing stock is more by Rs. 4,000 more than the opening
stock.
Ans 13 (I)
Net profit before tax is Rs. 2,00,000
Net profit before interest and tax Rs. 2,00,000+40,000 = 2,40,000
Capital employed = Rs.6,00,000 + (Rs.4,00,000 -- Rs.2,00,000)
=Rs.8,00,000
ROI = 2,40,000 X 100 = 30%
8,00,000
13(II)
Gross profit = 2,00,000 X 1/4 =50,000
Sale less gross profit 2,00,000 less 50,000 = 1,50,000
Average stock = 1,50,000/5 = 30,000
Let opening stock is x, closing stock shall be x + 4,000
So average stock shall be 2x + 4,000/2 = x+ 2,000
X + 2000 = 30,000
X = 28,000
Closing stock shall be 28,000 + 4,000 = 32,000
Q 14. Difference between funds flow statement and cash flow statement
? (3)
Ans 14. Difference between funds flow statement and cash flow statement
is as below:
- Cash flow statement takes into a/c only the cash items whereas the Funds
flow statement deals with non cash items also
- Cash flow statements is based on narrow concept i.e. cash = Funds whereas
the Funds flow statement is based on broad concept i.e. funds = working
capital
- Cash flow statement can be helpful in short term solvency i.e. liquidity
whereas the funds flow statement helps in assessing the solvency of firm
i.e. Long term liabilities.
- Cash Flow statement takes items on cash basis of accounts besides this
in funds flow statement the basis is accrual system of accounting
Q 15 If you want neither inflow nor outflow of funds which of the
following tr
Ansactions will you select:
i. Issue of shares in exchange of fixed assets for use in company's factory
ii. Sale of goods on credit
iii. Provision for depreciation
iv. Goodwill written off
v. A long term loan from the bank (3)
Ans.15
Following are the items which result neither into inflow nor into out
flow of funds issue of shares in exchange of fixed assets for use in company's
factory provision for depreciation goodwill written off.
Q 16. From the following balance sheets of XYZ ltd, make out the schedule
of changes in working capital and funds flow statement for the year 1994:
| Liability
Share apital
12% per share capital
14% debentures
Reserves Provision for bad debts
Current
liabilities |
1993
3,50,000
2,00,000
1,00,000
1,10,000
10,000
70,000
7,90,000 |
1994
3,50,000
1,00,000
2,00,000
2,70,000
15,000
1,45,000
10,80,000 |
Assets
Fixed assets(net) Investments
Current assets
Discount on issue
of debentures |
1993
5,10,000
30,000
2,40,000 10,000
7,90,000
|
1994
6,20,000
80,000
3,75,000
5,000
10,80,000 |
Additional Information:
i. The provision for depreciation stood at Rs.1,50,000 on 31 March,
1993 and at Rs.190,000 on 31 March, 1994
ii. A machinery costing Rs.70,000 (book value being Rs.40,000) was disposed
off for Rs.25,000.
iii. Preference share redemption was carried out at a prem of 5% on 1
April,1993.
iv. Dividend at 15% was paid on equity shares for year 1993-94. (12)
Ans.16
Solution: Schedule of Change in Working Capital
| Particulars |
1993 |
1994 |
Increase w.c |
Decr w.c |
| Current Assets:
Less
Provision for b.debt Current liability Working capital
Net increase in w.c |
2,40,000
10,000
70,000
1,60,000
55,000 |
3,75,000
15,000
1,45,000 2,15,000 |
1,35,000
-------
------ |
5,000
75,000
55,000
|
| |
2,15,000 |
2,15,000 |
1,35,000 |
1,35,000
|
Calculation of Funds From operation:
| Net profit
Add Non operating expenses:
Discount on issue of debentures
Depreciation
Loss on sale of machinery
Premium on redemption
of preference shares
Dividend on preference shares
Dividend on equity shares
Funds from operation:
|
5,000
70,000
15,000
5,000
12,000
45,000 |
1,60,000
1,52,000
3,12,000 |
Funds Flow Statement
| Sources |
Amount |
Applications |
Amount |
| Funds from operation. Issue of shares
Issue of debentures
Sale of machinery |
3,12,000
50,000
1,00,000
25,000 |
Redemption of pref. Shares
Purchase of fixed assets Purchase of investment Payment of dividend
Dividend on pre shares Increase in w.cap |
1,05,000
2,20,000
50,000
45,000
12,000
55,000
|
| |
4,87,000 |
|
4,87,000 |
Q 17 Rama limited is a trading company. It deals in units of a particular
product. Purchase price is Rs.25 per unit and sale price is Rs.40 per
unit. All purchases are made for cash. 25% of sales are for cash and 75%
are on credit basis. Discount of 5% is allowed on cash sales. Credit customers
are supposed to pay within one month of sales. From the following particulars,
prepare cash budget for January to April 1999
i. cash balance 1st January 1999 Rs.10,000
ii. Sales: Dec. 1998 10,000 units
January 1999 8,000 units
Feb. 9,000 units,
March. 7,000 units
April 8,000 units
May 10,000 units
June 11,000 units
iii. Office expenses are Rs.50,000 per month.
iv. An electric typewriter would be purchased for 15,000 in March
v. Purchases are made in the same month in which goods are sold, hence
no stock remains at the end of each month. (6)
Ans.17.
:
Cash Budget for the period Jan. to April 1999
| Particulars |
January |
February |
March |
April |
| Opening cash balance
Receipts:
Cash sales
Collection from debtors
Payments:
Cash purchases
Office expenses Typewriter
Closing cash balance |
10,000
76,000 3,00,000 3,86,000
2,00,000 50,000
------------- 2,50,000
1,36,000
|
1,36,000
85,500
2,40,000
4,61,500
2,25,000
50,000
----------
2,75,000
1,86,500 |
1,86,500
66,500
2,70,000
5,23,000
1,75,000
50,000
15,000
2,40,000
2,83,000 |
2,83,000
76,000
2,10,000
5,69,000
2,00,000
50,000
---------
2,50,000
3,19,000
|
Q 18 From the following information prepare comparative income statement
(5)
| Items |
1990 |
1991 |
| Sales
Cost of goods sold
Administrative expenses
Selling and distribution exp. Other income
Income tax |
40,000
30,000
1,000
1,500
2,000
4,750 |
50,000
35,000
1,000
2,000
3,000
7,500
|
Ans 18
Solution:
| Particulars |
1990 |
1991 |
Absolute |
% change
|
| Sales
Less cost of goods sold Gross profit
Less admn exp
Net operating income Add other incomes
Net profit
Less income tax |
40,000
30,000
10,000
2,500
7,500
2,000
9,500
4,750 |
50,000
35,000
15,000
3,000
12,000
3,000
15,000
7,500 |
10,000
5,000
5,000
500
4,500
1,000
5,500
2,750 |
25
16.7
50
60
50
57.9
57.99
|
| Net profit after tax |
4,750 |
7,500 |
2,750 |
57.9 |
OR
Q What do you understand by comparison of financial statements? And
the method trend analysis.
Ans 18. Basically we can say that comparative statements give knowledge
about nature of changes affecting the business.
Data when compared with other periods, other firms presents a trend, which
if analyzed gives an idea for taking a particular decision e.g. Exp
Ansion
decision of a product will depend upon its past demand trend which is
result of comparison of past years demand figures.
On account of the above reasons, the Indian companies act, 1956
has provided strictly that every company must show corresponding figures
of previous year with current year figures in their annual financial accounts,
so that comparative statements may be more useful.
By the word trend we me
Ans any general tendency. Analysis of these general
tendencies is called "TREND ANALYSIS".
The main purpose of trend analysis is to know the trend of available financial
information or knowledge. With help of this analysis, forecasts for future
trends can be made easily. |
