Question 13 Chapter 2 VK Publications Class 12 Part 2 – 2021
Table of Contents
13. Prepare a Comparative Income Statement from the following information:
| Particulars | 31st March 2018 (Rs.) | 31st March, 2017 (Rs.) | |
| Revenue from Operations | 50,000 | 40,000 | |
| Cost of Material Consumed | 35,000 | 30,000 | |
| Other Expenses | 3,000 | 2,500 | |
| Other Incomes | 3,000 | 2,000 | |
| Income Tax | 7,500 | 4,750 | |
The solution of Question 13 Chapter 2 VK Publications Class 12 Part 2: –
Comparative Income Statement For the years ended 31st March, 2017 and 2018
| Particulars | Note | 2011-2012 Rs. | 2012-2013 Rs. | Absolute Change Rs. | Percentage Change % |
| 1 | 2 | 3 | 4 | 5 | |
| A | B | B – A = C | C/A X 100 = D | ||
| I. Revenue from Operations | 40,000 | 50,000 | 10,000 | 25.00 | |
| II. Other Incomes | 2,000 | 3,000 | 1,000 | 50.00 | |
| III. Total Revenue from Operations (I+II) | 42,000 | 53,000 | 11,000 | 26.19 | |
| IV. Expenses | |||||
| Cost of material consumed | 30,000 | 35,000 | 5,000 | 16.67 | |
| Other Expense | 2,500 | 3,000 | 500 | 20.00 | |
| Total Expense | 32,500 | 38,000 | 5,500 | 16.93 | |
| V. Profit before Tax (III-IV) | 9,500 | 15,000 | 5,500 | 57.89 | |
| VI. Less: Income Tax | 4,750 | 7,500 | 2,750 | 57.89 | |
| V. Profit after Tax (V-VI) | 4,750 | 7,500 | 2,750 | 57.89 |
Financial Statement Analysis and its tools or Techniques
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