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Question 19 Chapter 2 VK Publications Class 12 Part 2 - 2021
19. Prepare a for Financial Comparative Income Statement of X Ltd. with the help of the following information:
| Particulars | 31st March 2018 (Rs.) | 31st March, 2017 (Rs.) | |
| Revenue from Operations | 4,00,000 | 2,50, 000 | |
| Expenses: | |||
| Cost of Material Consumed | 2,80,000 | 1,50,000 | |
| Other Expenses | 18,000 | 15,000 | |
| Rate of Income Tax (20%) | |||
Comparative Income Statement of X Ltd. As at 31st March, 2017 & 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 | 2,50,000 | 4,00,000 | 1,50,000 | 60.00 | |
| II. Expenses | |||||
| Cost of Material consumed | 1,50,000 | 2,80,000 | 1,30,000 | 86.67 | |
| Other Expense | 15,000 | 18,000 | 3,000 | 33.33 | |
| Total Expense | 1,65,000 | 2,98,000 | 1,33,000 | 80.61 | |
| III. Profit before Tax (I-II) | 85,000 | 1,02,000 | 17,000 | 20.00 | |
| IV. Less: Income Tax | 17,000 | 20,400 | 3,400 | 20.00 | |
| V. Profit after Tax (III-IV) | 68,000 | 81,600 | 13,600 | 20.00 |
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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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