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Question 20 Chapter 2 VK Publications Class 12 Part 2 - 2021
20. Prepare a Comparative Income Statement of Mahavir Ltd. with the help of the following information:
| Particulars | 2018 (Rs.) | 2017 (Rs.) | |
| Revenue from Operations | 9,00,000 | 6,00,000 | |
| Expenses | 6,00,000 | 3,50,000 | |
| Cost of Material Consumed | 75,000 | 60,000 | |
| Other Expenses | 40,000 | 30,000 | |
| Income Tax | 35% | 25% | |
Comparative Income Statement of Mahavir Ltd. For the years 2017 & 2018
| Particulars | Note | 2017 Rs. | 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 | 6,00,000 | 9,00,000 | 3,00,000 | 50.00 | |
| II. Expenses | |||||
| Cost of Material consumed | 3,50,000 | 5,00,000 | 1,50,000 | 42.85 | |
| Employees Benefit Expense | 60,000 | 75,000 | 15,000 | 25.00 | |
| Other Expense | 30,000 | 40,000 | 10,000 | 33.33 | |
| Total Expense | 4,40,000 | 6,15,000 | 1,75,000 | 39.77 | |
| III. Profit before Tax (I-II) | 1,60,000 | 2,85,000 | 1,25,000 | 78.12 | |
| IV. Less: Income Tax | 40,000 | 99,750 | 59,750 | 149.37 | |
| V. Profit after Tax (III-IV) | 1,20,000 | 1,85,250 | 65,250 | 54.37 |
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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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