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Question 12 Chapter 3 of +2-B
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Comparative Statement of Profit and Loss (Income Statement)
12. From the following information, prepare Comparative Statement of Profit and Loss showing an increase, decrease and percentage:
| Particulars | 31st March 2019 | 31st March 2018 |
| Cost of Materials Consumed | 13,44,000 | 6,00,000 |
| Revenue from Operations (% of Materials Consumed) | 125% | 200% |
| Other Expenses (% of Operating Revenue) | 10% | 10% |
| Tax Rate | 50% | 50% |
The solution of Question 12 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 | 1 | 12,00,000 | 16,80,000 | 4,80,000 | 40.00% |
| II. Expenses | |||||
| (a) Cost of Materials Consumed | 2 | 6,00,000 | 13,44,000 | 7,44,000 | 124.00% |
| (b) Other Expenses | 1,20,000 | 1,68,000 | 48,000 | 40.00% | |
| Total Expenses | 7,20,000 | 15,12,000 | 7,92,000 | 110.00% | |
| III. Profit before Tax (III-IV) | 4,80,000 | 1,68,000 | (3,12,000) | (65.00%) | |
| IV. Less: Tax @50% | 2,40,000 | 84,000 | (1,56,00) | (65.00%) | |
| V. Profit after Tax (V-VI) | 2,40,000 | 84,000 | (1,56,00) | (65.00%) | |
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Notes to Accounts:-
Particulars | 31st March, 2018 | 31st March, 2019 |
| 1. Revenue From Operations | ||
| (% of Cost of Materials Consumed)* | 12,00,000 | 16,80,000 |
| 12,00,000 | 16,80,000 | |
| 2. Other Expenses | ||
| (% of Revenue from Operations)* | 1,20,000 | 1,68,000 |
| 1,20,000 | 1,68,000 | |
Note:-
* The amount is calculated on the basis of Percentage given in the question. The percentage for the year ended 31st March 2018 is 200% and For the year ended 31st March 2019 is 125%.
* The amount is calculated on the basis of Percentage given in the question. The percentage for the year ended 31st March 2018 is 10% and For the year ended 31st March 2019 is 10%.
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)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
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
