Question 09 Chapter 2 of +2-B – USHA Publication 12 Class

Question 09 Chapter 2 of +2-B

Question 09 Chapter 2 of +2-B

Comparative Statement of Profit & Loss

9. From the following information prepare the Comparative Statement of profit and loss of A Ltd.

Particular 31st March 2016 31st March 2015
Revenue from Operations 25,00,000 20,00,000
Cost of Material Consumed 75% of Revenue 65% of Revenue
  from Operations  from Operations
Employees benefit Expenses 2,00,000 1,00,000
Tax Rate 40% 40%

 

The solution of Question 09 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 25,00,000 5,00,000 25.00%
Less: Cost of Material Consumed (WN)   13,00,000 18,75,000 6,75,000 51.92%
Employees Benefit Expenses   1,00,000 2,00,000 1,00,000 100.00%
Total Expenses   14,00,000 20,75,000 7,75,000 55.35%
Profit Before Tax   6,00,000 4,25,000 1,75,000 29.17%
Less: Tax 40%   2,40,000 1,70,000 70,000 29.17%
Profit after Tax   3,60,000 2,55,000 1,05,000 29.17%

Working Note:

Cost of Material consumed for the year 2015

65% of Revenue from Operation ₹20,00,000 x Rs.6,40,000
Rs.1,30,000
  = ₹13,00,000    

Cost of Material consumed for the year 2016

Cost of Material consumed for the year 2016 ₹20,00,000 x 75
100
  = ₹18,75,000    


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

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

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T.S. Grewal’s Analysis of Financial Statements

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