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Question 10 Chapter 13 of Class 12 Part – 2 – 2024
Comparative Statement of Profit & Loss
10. From the following information prepare a comparative Statement of Profit and Loss for the year ended 31st March 2016 and 2015
| Particular | 31st March 2016 | 31st March 2015 |
| Revenue from Operations | 8,50,000 | 7,00,000 |
| Material Consumed | 4,20,000 | 3,30,000 |
| Manufacturing and Office Expenses | 2,60,000 | 2,40,000 |
| Other Incomes | 30,000 | 30,000 |
Other Information
Income tax is calculated @50%
Manufacturing expenses are 50% of the total of that category.
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 | 7,00,000 | 8,50,000 | 1,50,000 | 21.43% | |
| Other Incomes | 30,000 | 30,000 | - | - | |
| Total | 7,30,000 | 8,80,000 | 1,50,000 | 20.55% | |
| Less: Material Consumed | 3,30,000 | 4,20,000 | 90,000 | 27.27% | |
| Manufacturing Expenses (WN) | 1,20,000 | 1,30,000 | 10,000 | 8.33% | |
| Other Expenses | 1,20,000 | 1,30,000 | 10,000 | 8.33% | |
| Total Expenses | 5,70,000 | 6,80,000 | 1,10,000 | 19.30% | |
| Profit Before Tax | 1,60,000 | 2,00,000 | 40,000 | 25.00% | |
| Less: Tax 50% | 80,000 | 1,00,000 | 20,000 | 25.00% | |
| Profit after Tax | 80,000 | 1,00,000 | 20,000 | 25.00% |
Working Note:
Cost of Material consumed for the year 2015
| 50% of Revenue from Operation | = | ₹2,40,000 | x | 50 |
| 100 | ||||
| = | ₹1,20,000 |
Cost of Material consumed for the year 2016
| 50% of Manufacturing and Office Expenses | = | ₹2,60,000 | x | 50 |
| 100 | ||||
| = | ₹1,30,000 |
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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