Question 08 Chapter 2 of +2-B
Comparative Statement of Profit & Loss
8. Prepare a comparative Statement of Profit and Loss of Western Medicare Limited, from the following information. The company is having its own managed more than one dozen dispensaries in rural area where people from down-trodden society are being treated free of cost.
| Particular | 31stMarch, 2016 | 31st March, 2015 |
| Revenue from Operations | 24,00,000 | 20,00,000 |
| Cost of Material Consumed | 6,00,000 | 4,00,000 |
| Changes in inventories of Stock in trade | 2,00,000 | 2,00,000 |
| Employees benefit Expenses | 1,50,000 | 1,00,000 |
| Tax Rate | 40% | 30% |
The Content covered in this article:
The solution of Question 08 Chapter 2 of +2-B: –
| Comparative Balance Sheet of Sun Ltd. | |||||
| Particulars |
Note no. | 31st March, 2015 (A) (3) |
31st March, 2016 (B) (4) |
Absolute Change (Increase /Decrease) (C=B-A) (5) |
Percentage C hange (Increase /Decrease) (D=C/A x 100) (6) |
| Revenue from Operation | 20,00,000 | 20,00,000 | 4,00,000 | 20.00% | |
| Less: Cost of Material Consumed | 4,00,000 | 6,00,000 | 2,00,000 | 50.00% | |
| Changes in stock | 2,00,000 | 2,00,000 | – | – | |
| Employees Benefit Expenses | 1,00,000 | 1,50,000 | 50,000 | 50.00% | |
| Total Expenses | 7,00,000 | 9,50,000 | 2,50,000 | 35.71% | |
| Profit Before Tax | 13,00,000 | 14,50,000 | 1,50,000 | 11.54% | |
| Less: Tax 40% | 5,20,000 | 5,35,000 | 15,000 | 2.88% | |
| Profit after Tax | 7,80,000 | 9,15,000 | 1,35,000 | 17,31% | |
To understand more about Balance Sheet please check out following links:
Balance Sheet: Meaning, Format & Examples
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Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
Chapter No. 1 – Accounting Not for Profit Organisations
Chapter No. 2 – Partnership Accounts – I
Chapter No. 3 – Partnership Accounts – II (Introduction)
Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)
Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)
Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)
Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
Chapter No. 1 – Financial Statements of a Company (Balance Sheet Only)
Chapter No. 2 – Techniques of Financial Statement Analysis
Chapter No. 3 – Ratio Analysis
Chapter No. 4 – Cash Flow Statement
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