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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question 16 Chapter 13 of Class 12 Part – 2 – 2024
Comparative Statement of Profit & Loss
16. From the following information prepare a comparative Statement of Profit and Loss :
| Particular | 31st March 2018 | 31st March 2017 |
| Revenue from Operation (% of Other Income) | 200% | 200% |
| Other Income | 1,50,000 | 2,00,000 |
| Cost of Material Consumed (% of operating Revenue) | 60% | 50% |
| Expenses (% of Material Cost) | 20% | 20% |
| Tax Rate | 30% | 30% |
Comparative Statement of Profit & Loss
| Particulars |
Note no. | 31st March, 2017 (A) (3) |
31st March, 2018 (B) (4) |
Absolute Change (Increase /Decrease) (C=B-A) (5) |
Percentage change (Increase /Decrease) (D=C/A x 100) (6) |
|---|---|---|---|---|---|
| Revenue from Operation (WN 1) | 4,00,000 | 3,00,000 | (1,00,000) | (25.00%) | |
| Other Incomes | 2,00,000 | 1,50,000 | (50,000) | (25.00%) | |
| Total | 6,00,000 | 4,50,000 | (1,50,000) | (25.00%) | |
| Less: Cost of Material Consumed (2) | 2,00,000 | 1,80,000 | (20,000) | 10.00% | |
| Employee benefit Expenses (3) | 20,000 | 36,000 | 16,000 | 80.00% | |
| Total | 2,20,000 | 2,16,000 | (4,000) | 1.81% | |
| Profit Before Tax | 3,80,000 | 2,34,000 | (46,000) | 12.1% | |
| Less: Tax (4) | 1,14,000 | 70,200 | (43,800) | 38.42% | |
| Profit After Tax | 2,66,000 | 1,63,800 | 1,02,200 | 38.42% |
Working Note:
Revenue from Operations for year ended 31st March 2016
| 200% of Other Income | = | ₹ 1,50,000 | x | 200 |
| 100 | ||||
| = | ₹3,00,000 |
Cost of Material Consumed for year ended 31st March 2015
| 200% of Other Income | = | ₹ 2,00,000 | x | 200 |
| 100 | ||||
| = | ₹4,00,000 |
Working Note 2:
Cost of Material Consumed for year ended 31st March 2016
| 60% of Revenue from Operations | = | ₹ 3,00,000 | x | 60 |
| 100 | ||||
| = | ₹1,80,000 |
Cost of Material Consumed for year ended 31st March 2015
| 50% of Revenue from Operations | = | ₹ 4,00,000 | x | 50 |
| 100 | ||||
| = | ₹2,00,000 |
Working Note 3:
Expenses for year ended 31st March 2016
| 20% of Other Income | = | ₹ 1,80,000 | x | 20 |
| 100 | ||||
| = | ₹36,000 |
Expenses for year ended 31st March 2015
| 10% of Other Income | = | ₹ 2,00,000 | x | 10 |
| 100 | ||||
| = | ₹20,000 |
Working Note 4:
Tax for year ended 31st March 2015
| 30% of Profit | = | ₹ 3,80,000 | x | 30 |
| 100 | ||||
| = | ₹1,14,000 |
Tax for year ended 31st March 2016
| 30% of Profit | = | ₹ 2,34,000 | x | 30 |
| 100 | ||||
| = | ₹70,200 |
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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