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Question 14 Chapter 13 of Class 12 Part – 2 – 2024
Comparative Statement of Profit & Loss
14. From the following information prepare a comparative Statement of Profit and Loss :
| Particular | 31st March 2016 | 31st March 2015 |
| Revenue from Operations | 3,00,000 | 2,00,000 |
| Other Income | 60,000 | 50,000 |
| Cost of Revenue from Operation | 1,54,000 | 1,00,000 |
| Employee benefit expenses | 40,000 | 25,000 |
| Other Expenses | 15,000 | 20,000 |
| Tax Rate | 30% | 30% |
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 | 2,00,000 | 3,00,000 | 1,00,000 | 50.00% | |
| Other Incomes | 50,000 | 60,000 | 10,000 | 20.00% | |
| Total | 2,50,000 | 3,60,000 | 1,10,000 | 44.00% | |
| Less: Cost of Revenue from Operation | 1,00,000 | 1,54,000 | 45,000 | 45.00% | |
| Employee benefit Expenses | 25,000 | 40,000 | 15,000 | 60.00% | |
| Other Expenses | 20,000 | 15,000 | (5,000) | (25.00%) | |
| Total | 1,45,000 | 2,00,000 | 55,000 | 37.93% | |
| Profit Before Tax | 1,05,000 | 1,50,000 | 45,000 | 42.86% | |
| Less: Tax (WN) | 31,500 | 45,000 | 13,500 | 42.86% | |
| Profit After Tax | 73,500 | 1,05,000 | 31,500 | 42.86% |
Working Note:
Tax for year ended 31st March 2015
| 30% of Profit | = | ₹1,05,000 | x | 30 |
| 100 | ||||
| = | ₹31,500 |
Tax for year ended 31st March 2016
| 30% of Profit | = | ₹1,50,000 | x | 30 |
| 100 | ||||
| = | ₹45,000 |
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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