Question 12 Chapter 2 of +2-B
Table of Contents
Comparative Statement of Profit & Loss
12. Prepare a comparative Statement of Profit and Loss from the following :
| Particular | 31st March 2016 | 31st March 2015 |
| Revenue from Operations | 160% of the cost of Revenue from Operation | 140% of the cost of Revenue from Operation |
| Purchases | 450000 | 250000 |
| Cost of Revenue from Operation | 500000 | 300000 |
| Administrative Expenses | 8% of ₹ 5,00,000 | 10% of ₹ 3,00,000 |
| Income Tax | 0.5 | 0.4 |
The solution of Question 12 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 (WN1) | 4,20,000 | 8,00,000 | 3,80,000 | 90.48% | |
| Less: Cost of Revenue from Operation | 3,00,000 | 5,00,000 | 2,00,000 | 66.67% | |
| Administrative Expenses (WN2) | 30,000 | 40,000 | 10,000 | 33.33% | |
| Total Expenses | 3,30,000 | 5,40,000 | 2,10,000 | 63.63% | |
| Profit Before Tax | 90,000 | 2,60,000 | 1,70,000 | 188.89% | |
| Less: Income Tax (WN3) | 36,000 | 1,30,000 | 94,000 | 261.11% | |
| Profit after Tax | 54,000 | 1,30,000 | 76,000 | 140.74% | |
Working Note: (Win.1)
Cost of Material consumed for the year 2015
| 140% of cost of Revenue from Operation | = | ₹3,00,000 | x | 140 |
| 100 | ||||
| = | ₹4,20,000 |
Revenue from Operation for year 2016
| 160% of cost of Revenue from Operation | = | ₹5,00,000 | x | 160 |
| 100 | ||||
| = | ₹8,00,000 |
(Win.2)
Administrative Expenses for year 2015
| 10% of cost of Revenue from Operation | = | ₹3,00,000 | x | 100 |
| 100 | ||||
| = | ₹30,000 |
Advertisement-X
Administrative Expenses for year 2016
| 8% of cost of Revenue from Operation | = | ₹5,00,000 | x | 8 |
| 100 | ||||
| = | ₹40,000 |
(Win.3)
Income Tax for year 2015
| 40% of Profit | = | ₹54,000 | x | 40 |
| 100 | ||||
| = | ₹36,000 |
Income Tax for year 2016
| 50% of Profit | = | ₹2,60,000 | x | 160 |
| 100 | ||||
| = | ₹1,30,000 |
To understand more about Balance Sheet please check out following links:
Balance Sheet: Meaning, Format & Examples
Thanks, Please Like and share with your friends
Comment if you have any question.
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 (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
Advertisement-X
