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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question 12 Chapter 13 of Class 12 Part – 2 – 2024
Comparative Statement of Profit & Loss
12. Prepare a comparative Statement of Profit and Loss from the following :
| Particular | 31st March 2016 | 31st March 2015 |
| Revenue from Operations | 160% of the cost of Revenue from Operation | 140% of the cost of Revenue from Operation |
| Purchases | 450000 | 250000 |
| Cost of Revenue from Operation | 500000 | 300000 |
| Administrative Expenses | 8% of ₹ 5,00,000 | 10% of ₹ 3,00,000 |
| Income Tax | 0.5 | 0.4 |
comparative Statement of Profit and Loss
| 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 (WN1) | 4,20,000 | 8,00,000 | 3,80,000 | 90.48% | |
| Less: Cost of Revenue from Operation | 3,00,000 | 5,00,000 | 2,00,000 | 66.67% | |
| Administrative Expenses (WN2) | 30,000 | 40,000 | 10,000 | 33.33% | |
| Total Expenses | 3,30,000 | 5,40,000 | 2,10,000 | 63.63% | |
| Profit Before Tax | 90,000 | 2,60,000 | 1,70,000 | 188.89% | |
| Less: Income Tax (WN3) | 36,000 | 1,30,000 | 94,000 | 261.11% | |
| Profit after Tax | 54,000 | 1,30,000 | 76,000 | 140.74% |
Working Note: (Win.1)
Cost of Material consumed for the year 2015
| 140% of cost of Revenue from Operation | = | ₹3,00,000 | x | 140 |
| 100 | ||||
| = | ₹4,20,000 |
Revenue from Operation for year 2016
| 160% of cost of Revenue from Operation | = | ₹5,00,000 | x | 160 |
| 100 | ||||
| = | ₹8,00,000 |
(Win.2)
Administrative Expenses for year 2015
| 10% of cost of Revenue from Operation | = | ₹3,00,000 | x | 100 |
| 100 | ||||
| = | ₹30,000 |
Administrative Expenses for year 2016
| 8% of cost of Revenue from Operation | = | ₹5,00,000 | x | 8 |
| 100 | ||||
| = | ₹40,000 |
(Win.3)
Income Tax for year 2015
| 40% of Profit | = | ₹54,000 | x | 40 |
| 100 | ||||
| = | ₹36,000 |
Income Tax for year 2016
| 50% of Profit | = | ₹2,60,000 | x | 160 |
| 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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