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Question 11 Chapter 3 of +2-B
Comparative Statement of Profit and Loss (Income Statement)
11. From the following information, prepare Comparative Statement of Profit and Los:
| Particulars | 31st March 2019 | 31st March 2018 |
| Revenue from Operations | 30,00,000 | 20,00,000 |
| Other Income (% of Revenue from Operations) | 12% | 20% |
| Expenses (% of Operating Revenue) | 70% | 60% |
| Tax Rate | 40% | 40% |
Comparative Balance Sheet of Sun Ltd.
|
Particulars (1) |
Note no. (2) |
31st March, 2018 (A) (3) |
31st March, 2019 (B) (4) |
Absolute Change (Increase/ Decrease) (C=B-A) (5) |
Percentage Change (Increase/ Decrease) (D=C/A x 100) (6) |
|---|---|---|---|---|---|
| I. Revenue from Operations (Net Sales) | 20,00,000 | 30,00,000 | 10,00,000 | 20.00% | |
| II. Other Income | 1 | 4,00,000 | 3,60,000 | (40,000) | 10.00% |
| III. Total Revenue (I+II) | 24,00,000 | 33,60,000 | 9,60,000 | 40.00% | |
| IV. Expenses | 2 | 12,00,000 | 21,00,000 | 9,00,000 | 75.00% |
| V. Profit before Tax (III-IV) | 12,00,000 | 12,60,000 | 60,000 | 05.00% | |
| VI. Less: Tax @40% | 4,80,000 | 5,04,000 | 24,000 | 05.00% | |
| VII. Profit after Tax (V-VI) | 7,20,000 | 7,56,000 | 36,000 | 05.00% |
Working note:
|
Particulars |
31st March, 2018 |
31st March, 2019 |
|---|---|---|
| 1. Other Income | ||
| (% of Revenue from Operations) * | 4,00,000 | 3,60,000 |
| 4,00,000 | 3,60,000 | |
| 2. Expenses | ||
| (% of Revenue from Operations) * | 12,00,000 | 21,00,000 |
| 12,00,000 | 21,00,000 | |
Note:-
* The amount is calculated on the basis of Percentage given in the question. The percentage for the year ended 31st March 2018 is 20% and For the year ended 31st March 2019 is 12%.
* The amount is calculated on the basis of Percentage given in the question. The percentage for the year ended 31st March 2018 is 60% and For the year ended 31st March 2019 is 70%.
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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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