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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question No 09 Chapter 6 – UNIMAX Class 12 Part 2 – 2021
Prepare a comparative Income Statement from the following and interpret the same.
| Particulars |
31-3-2022 | 31-3-2021 |
|---|---|---|
| Revenue from operation | 15,00,000 | 20,00,000 |
| Other income | 1,00,000 | 1,00,000 |
| Cost of material consumed | 17,00,000 | 14,00,000 |
| Finance cost | 2,00,000 | 1,60,000 |
| Other expense | 1,00,000 | 1,40,000 |
| Income tax | 40% of profit | 50% of profit |
Comparative Income Statement for the year 31-3-2021 & 31-3-2022
| Particulars |
2021 A |
2022 B |
Absolute change B-A =C |
Percentage change C/A |
|---|---|---|---|---|
| 1.Revenue form operations | 20,00,000 | 15,00,000 | 5,00,000 | 25.00 |
| 2.Add other income | 1,00,000 | 1,00,000 | Nil | Nil |
| 3.Total revenue | 21,00,000 | 16,00,000 | (5,00,000) | (23.80) |
| 4.Less expenses: | ||||
| (a) Cost of Material consumed | 14,00,000 | 17,00,000 | 3,00,000 | 21.43 |
| Finance cost | 1,60,000 | 2,00,000 | 40,000 | 25.00 |
| Other expenses | 1,40,000 | 1,00,000 | (40,000) | (28.57) |
| 4.Total expenses | 17,00,000 | 20,00,000 | 3,00,000 | 17.65 |
| 5.Profit before tax (3-4) | 4,00,000 | (4,00,000) | (8,00,000) | (200.00) |
| 6.Less income tax | 1,60,000 | Nil | 1,60,000 | (100.00) |
| 7.Profit after tax | 2,40,000 | (4,00,000) | (6,40,000) | (266.67) |
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.
This guide covers "Question No 09 Chapter 6 – UNIMAX Class 12 Part 2 – 2021", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax Accountancy Class 12 Part 2 - 2023.
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