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Question 14 Chapter 2 VK Publications Class 12 Part 2 - 2021
14. From the following Statement of Profit and Loss of Moontrack Ltd., for the years ended Mar 31st March, 2018 and 2017, prepare a 'Comparative Statement of Profit and Loss’.
| Particulars | 2017-18 (Rs.) | 2016-17 (Rs ) | |
| Revenue from Operations | 40,00,000 | 24,00,000 | |
| Other Incomes | 24,00,000 | 18,00,000 | |
| Expenses | 16,00,000 | 14,00,000 | |
Comparative Income Statement For the years ended 31st March, 2017 and 2018
| Particulars | Note | 2016-2017 Rs. | 2017-2018 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 | 24,00,000 | 40,00,000 | 16,00,000 | 66.67 | |
| II. Other Incomes | 18,00,000 | 24,00,000 | 66,00,000 | 33.33 | |
| III. Total Revenue from Operations | 42,00,000 | 64,00,000 | 22,00,000 | 52.39 | |
| IV. Expenses | 14,00,000 | 16,00,000 | 2,00,000 | 14.29 | |
| V. Net Profit before Tax (III-IV) | 32,500 | 38,000 | 5,500 | 16.93 |
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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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