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Question 08 Chapter 2 of +2-B
Comparative Statement of Profit & Loss
8. Prepare a comparative Statement of Profit and Loss of Western Medicare Limited, from the following information. The company is having its own managed more than one dozen dispensaries in rural area where people from down-trodden society are being treated free of cost.
| Particular | 31stMarch, 2016 | 31st March, 2015 |
| Revenue from Operations | 24,00,000 | 20,00,000 |
| Cost of Material Consumed | 6,00,000 | 4,00,000 |
| Changes in inventories of Stock in trade | 2,00,000 | 2,00,000 |
| Employees benefit Expenses | 1,50,000 | 1,00,000 |
| Tax Rate | 40% | 30% |
Comparative Balance Sheet of Sun Ltd.
| Particulars |
Note no. | 31st March, 2015 (A) (3) |
31st March, 2016 (B) (4) |
Absolute Change (Increase /Decrease) (C=B-A) (5) |
Percentage C hange (Increase /Decrease) (D=C/A x 100) (6) |
|---|---|---|---|---|---|
| Revenue from Operation | 20,00,000 | 20,00,000 | 4,00,000 | 20.00% | |
| Less: Cost of Material Consumed | 4,00,000 | 6,00,000 | 2,00,000 | 50.00% | |
| Changes in stock | 2,00,000 | 2,00,000 | - | - | |
| Employees Benefit Expenses | 1,00,000 | 1,50,000 | 50,000 | 50.00% | |
| Total Expenses | 7,00,000 | 9,50,000 | 2,50,000 | 35.71% | |
| Profit Before Tax | 13,00,000 | 14,50,000 | 1,50,000 | 11.54% | |
| Less: Tax 40% | 5,20,000 | 5,35,000 | 15,000 | 2.88% | |
| Profit after Tax | 7,80,000 | 9,15,000 | 1,35,000 | 17,31% |
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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