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

Question 12 Chapter 3 of +2-B

Question 12 Chapter 3 of +2-B

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%)

 

 

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)

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 12 Chapter 3 of +2-B  - T.S. Grewal 12 Class
T.S. Grewal’s Analysis of Financial Statements

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