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

Question 12 Chapter 2 of +2-B
Q-12- CH-2 Book 2 - Usha Pub. +2 Book 2020 - Solution

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Question 12 Chapter 2 of +2-B

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Comparative Statement of Profit & Loss

12. Prepare a comparative Statement of Profit and Loss from the following :

Particular31st March 201631st March 2015
Revenue from Operations160% of the cost of Revenue from Operation 140% of the cost of Revenue from Operation 
Purchases450000250000
Cost of Revenue from Operation500000300000
Administrative Expenses8% of ₹ 5,00,00010% of ₹ 3,00,000
Income Tax0.50.4

 

The solution of Question 12 Chapter 2 of +2-B: – 

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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) 4,20,0008,00,0003,80,00090.48%
Less: Cost of Revenue from Operation 3,00,0005,00,0002,00,00066.67%
Administrative Expenses (WN2) 30,00040,00010,00033.33%
Total Expenses 3,30,0005,40,0002,10,00063.63%
Profit Before Tax 90,0002,60,0001,70,000188.89%
Less: Income Tax (WN3) 36,0001,30,00094,000261.11%
Profit after Tax 54,0001,30,00076,000140.74%


Working Note: (Win.1)


Cost of Material consumed for the year 2015

140% of cost of Revenue from Operation₹3,00,000x140
100
 =₹4,20,000  

Revenue from Operation for year 2016

160% of cost of Revenue from Operation₹5,00,000x160
100
 =₹8,00,000  

(Win.2)

Administrative Expenses for year 2015

10% of cost of Revenue from Operation₹3,00,000x100
100
 =₹30,000  

 

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Administrative Expenses for year 2016

8% of cost of Revenue from Operation₹5,00,000x8
100
 =₹40,000  

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(Win.3)

Income Tax for year 2015

40% of Profit₹54,000x40
100
 =₹36,000  

Income Tax for year 2016

50% of Profit₹2,60,000x160
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

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

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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