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Question 5 Chapter 2 VK Publications Class 12 Part 2 - 2021
5. Prepare a Comparative Income Statement from the following data of Rajasthan, Ltd.:
| Particulars | Note No. | 31st March,2017 (Rs.) | 31st March, 2016 (Rs.) |
| Revenue from Operations | 1,74,000 | 1,47, 000 | |
| Employees Benefit Expenses | 1,04,000 | 87,000 | |
| Other Expenses | 30,000 | 25,000 | |
| Tax Rate 20% |
Comparative Statement of Profit and Loss of Rajasthan Hardwares Ltd. For the year 31st March, 2016 & 2017
| 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 | 1,47,000 | 1,74,000 | 27,000 | 18.36 | |
| II. Expenses | |||||
| Employees Benefit Expense | 87,000 | 1,04,000 | 17,000 | 19.54 | |
| Other Expense | 25,000 | 30,000 | 5,000 | 20.00 | |
| Total Expense | 1,12,000 | 1,34,000 | 22,000 | 19.64 | |
| III. Profit before Tax (I-II) | 35,000 | 40,000 | 5,000 | 14.28 | |
| IV. Less: Tax @ 20% | 7,000 | 8,000 | 1,000 | 14.28 | |
| V. Profit after Tax (III-IV) | 28,000 | 32,000 | 4,000 | 14.28 |
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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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