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Question 11 Chapter 3 of +2-B
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Comparative Statement of Profit and Loss (Income Statement)
11. From the following information, prepare Comparative Statement of Profit and Los:
| Particulars | 31st March 2019 | 31st March 2018 |
| Revenue from Operations | 30,00,000 | 20,00,000 |
| Other Income (% of Revenue from Operations) | 12% | 20% |
| Expenses (% of Operating Revenue) | 70% | 60% |
| Tax Rate | 40% | 40% |
The solution of Question 11 Chapter 3 of +2-B: –
| Comparative Balance Sheet of Sun Ltd. | |||||
Particulars (1) | Note no. (2) | 31st March, 2018 (A) (3) | 31st March, 2019 (B) (4) | Absolute Change (Increase/ Decrease) (C=B-A) (5) | Percentage Change (Increase/ Decrease) (D=C/A x 100) (6) |
| I. Revenue from Operations (Net Sales) | 20,00,000 | 30,00,000 | 10,00,000 | 20.00% | |
| II. Other Income | 1 | 4,00,000 | 3,60,000 | (40,000) | 10.00% |
| III. Total Revenue (I+II) | 24,00,000 | 33,60,000 | 9,60,000 | 40.00% | |
| IV. Expenses | 2 | 12,00,000 | 21,00,000 | 9,00,000 | 75.00% |
| V. Profit before Tax (III-IV) | 12,00,000 | 12,60,000 | 60,000 | 05.00% | |
| VI. Less: Tax @40% | 4,80,000 | 5,04,000 | 24,000 | 05.00% | |
| VII. Profit after Tax (V-VI) | 7,20,000 | 7,56,000 | 36,000 | 05.00% | |
Working note:
Particulars | 31st March, 2018 | 31st March, 2019 |
| 1. Other Income | ||
| (% of Revenue from Operations) * | 4,00,000 | 3,60,000 |
| 4,00,000 | 3,60,000 | |
| 2. Expenses | ||
| (% of Revenue from Operations) * | 12,00,000 | 21,00,000 |
| 12,00,000 | 21,00,000 | |
Note:-
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* The amount is calculated on the basis of Percentage given in the question. The percentage for the year ended 31st March 2018 is 20% and For the year ended 31st March 2019 is 12%.
* The amount is calculated on the basis of Percentage given in the question. The percentage for the year ended 31st March 2018 is 60% and For the year ended 31st March 2019 is 70%.
Balance Sheet: Meaning, Format & Examples
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Also, Check out the solved question of previous Chapters: –
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
