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

Question 12 Chapter 2 of +2-B

Question 12 Chapter 2 of +2-B

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 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 (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    

 

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

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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 12 Chapter 2 of +2-B  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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