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
Thanks, Please Like and share with your friends
Comment if you have any question.
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 (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- 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
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
