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

Question 11 Chapter 3 of +2-B

Question 11 Chapter 3 of +2-B

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:-

* 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)

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

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

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