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Question 15 Chapter 2 of +2-B
Comparative Statement of Profit & Loss
15. From the following information prepare a comparative Statement of Profit and Loss :
| Particular | 31st March 2016 | 31st March 2015 |
| Revenue from Operations | 2,00,000 | 2,00,000 |
| Cost of Revenue from Operation | 70% of Revenue from Operations | 60% of Revenue from Operations |
| Other Expenses | 12,000 | 10,000 |
| Tax Rate | 50% | 50% |
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 | 2,00,000 | - | - | |
| Less: Cost of Material Consumed (WN) | 1,20,000 | 1,40,000 | 20,000 | 16.67% | |
| Other Expenses | 10,000 | 12,000 | 2,000 | 20.00% | |
| Total | 1,30,000 | 1,52,000 | 22,000 | 16.92% | |
| Profit Before Tax | 70,000 | 48,000 | (22,000) | 31,43% | |
| Less: Tax 50% | 35,000 | 24,000 | (11,000) | 31,43% | |
| Profit After Tax | 35,000 | 24,000 | (11,000) | 31,43% |
Working Note:
Cost of Material Consumed for the year ended 31st March 2016
| 70% of Revenue from Operations | = | ₹ 2,00,000 | x | 70 |
| 100 | ||||
| = | ₹1,40,000 |
Cost of Material Consumed for the year ended 31st March 2015
| 70% of Revenue from Operations | = | ₹2,00,000 | x | 60 |
| 100 | ||||
| = | ₹1,20,000 |
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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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