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Question 11 Chapter 2 of +2-B
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Table of Contents
Comparative Statement of Profit & Loss
11.From the following Statement of Profit and Loss prepare a comparative Statement of Profit and Loss.
| Particular | 31st March 2016 | 31st March 2015 |
| I.Income | 30,00,000 | 25,00,000 |
| Revenue from Operations | ||
| Other Incomes | 6,00,000 | 5,00,000 |
| Total | 36,00,000 | 30,00,000 |
| II.Expenses | ||
| Purchase of stock in trade | 15,00,000 | 12,00,000 |
| Change in inventories of stock in trade | 4,00,000 | 4,00,000 |
| Employees benefit expenses | 3,00,000 | 2,00,000 |
| Other Expenses | 8,00,000 | 7,00,000 |
| Total | 30,00,000 | 25,00,000 |
| III.Net Profit | 6,00,000 | 5,00,000 |
The solution of Question 11 Chapter 2 of +2-B: –
| comparative Statement of Profit and Loss | |||||
| 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 | 25,00,000 | 30,00,000 | 5,00,000 | 20.00% | |
| Other Incomes | 5,00,000 | 6,00,000 | 1,00,000 | 20.00% | |
| Total | 30,00,000 | 36,00,000 | 6,00,000 | 20.00% | |
| Less: Purchase of Stock | 12,00,000 | 15,00,000 | 3,00,000 | 25.00% | |
| Change in Stock | 4,00,000 | 4,00,000 | – | – | |
| Employees Expenses | 2,00,000 | 3,00,000 | 1,00,000 | 50.00% | |
| Other Expenses | 7,00,000 | 8,00,000 | 1,00,000 | 14.29% | |
| Total | 25,00,000 | 30,00,000 | 5,00,000 | 20.00% | |
| Profit after Tax | 5,00,000 | 6,00,000 | 1,00,000 | 20.00% | |
Working Note:
Cost of Material consumed for the year 2015
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| 50% of Revenue from Operation | = | ₹2,40,000 | x | 50 |
| 100 | ||||
| = | ₹1,20,000 |
Cost of Material consumed for the year 2016
| 50% of Manufacturing and Office Expenses | = | ₹2,60,000 | x | 50 |
| 100 | ||||
| = | ₹1,30,000 |
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: –
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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
