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Question 12 Chapter 2 VK Publications Class 12 Part 2 - 2021
12. From the following Statement of Profit and Loss of Ajanta Ltd. for the year ended 31stMarch, 2013, prepare a Comparative Statement of Profit and Loss:
| Particulars | 2012-13 (Rs.) | 2011-12 (Rs ) | |
| Revenue from Operations | 20,00,000 | 18,00, 000 | |
| Other Incomes | 4,00,000 | 6,00,000 | |
| Expenses | 19,00,000 | 17,00,000 | |
| Rate of Income tax was 50%. | |||
Comparative Statement of Profit and Loss: For the years ended 31st March, 2012 and 2013
| Particulars | Note | 2011-2012 Rs. | 2012-2013 Rs. | Absolute Change Rs. | Percentage Change % |
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| A | B | B - A = C | C/A X 100 = D | ||
| I. Revenue from Operations | 18,00,000 | 20,00,000 | 2,00,000 | 27.27 | |
| II. Other Income | 6,00,000 | 4,00,000 | (2,00,000) | (33.33) | |
| III. Total revenue ( I+II) | 24,00,000 | 24,00,000 | 0 | Nil. | |
| IV. Expenses | 17,00,000 | 19,00,000 | 2,00,000 | 11.76 | |
| V. Profit before Tax (III-IV) | 7,00,000 | 5,00,000 | (2,00,000) | (28.57) | |
| VI. Income Tax @ 50% | 3,50,000 | 2,50,000 | (1,00,000) | (28.57) | |
| VII. Profit after Tax | 3,50,000 | 2,50,000 | (1,00,000) | (28.57) |
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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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