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Question 11 Chapter 3 of +2-B – T.S. Grewal 12 Class

Question 11 Chapter 3 of +2-B
Question No. 11 - Chapter No.3 - T.S. Grewal +2 Book Part B-min

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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:

Particulars31st March 201931st March 2018
Revenue from Operations30,00,00020,00,000
Other Income (% of Revenue from Operations)12%20%
Expenses (% of Operating Revenue)70%60%
Tax Rate40%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) 20,00,00030,00,00010,00,00020.00%
II. Other Income14,00,0003,60,000(40,000)10.00%
III. Total Revenue (I+II) 24,00,00033,60,0009,60,00040.00%
IV. Expenses212,00,00021,00,0009,00,00075.00%
V. Profit before Tax (III-IV) 12,00,00012,60,00060,00005.00%
VI. Less: Tax @40% 4,80,0005,04,00024,00005.00%
VII. Profit after Tax (V-VI) 7,20,0007,56,00036,00005.00%

Working note:

 

Particulars

31st March,
2018
31st March,
2019
1. Other Income  
(% of Revenue from Operations) *4,00,0003,60,000
 4,00,0003,60,000
2. Expenses  
(% of Revenue from Operations) *12,00,00021,00,000
 12,00,00021,00,000

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Note:-

* 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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Comment if you have any question.

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)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

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

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

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