Question 11 Chapter 2 of +2-B – USHA Publication 12 Class

Question 11 Chapter 2 of +2-B

Question 11 Chapter 2 of +2-B

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 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   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

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: –

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

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 3 min 225x300 - Question 11 Chapter 2 of +2-B  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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