Question 13 Chapter 3 of +2-B
Table of Contents
Comparative Statement of Profit and Loss (Income Statement)
13. From the following Statement of Profit and Loss, prepare comparative
Statement of Profit and Loss:
| Particulars | Note No. | 31st March, | 31st March, |
| 2019 | 2018 | ||
| I. Income | |||
| Revenue from Operations(Net Sales) | 50,00,000 | 40,00,000 | |
| II. Expenses | |||
| Purchases of Stock-in-Trade | 34,00,000 | 28,50,000 | |
| Change in Inventories of Stock-in-Trade | 1 | 1,00,000 | 1,50,000 |
| Employee Benefit Expenses | 1,00,000 | 1,00,000 | |
| Other Expenses | 2 | 2,00,000 | 1,50,000 |
| Total | 38,00,000 | 32,50,000 | |
| III. Net Profit after Tax (I-II) | 12,00,000 | 7,50,000 |
Notes to Accounts:-
| Particulars | 31st March, | 31st March, |
| 2019 | 2018 | |
| 1. Change in Inventories of Stock-in-Trade | ||
| Opening Inventory | 2,00,000 | 3,50,000 |
| Less: Closing Inventory | 1,00,000 | 2,00,000 |
| 1,00,000 | 1,50,000 | |
| 2. Other Expenses | ||
| Administrative Expenses | 50000 | 50000 |
| Selling and Distribution Expenses | 1,50,000 | 1,00,000 |
| 2,00,000 | 1,50,000 |
The solution of Question 13 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. Income | |||||
| Revenue from Operations | 40,00,000 | 50,00,000 | 10,00,000 | 25.00% | |
| II. Expenses | |||||
| (a) Purchases of Stock-in-Trade | 28,50,000 | 34,00,000 | 5,50,000 | 19.30% | |
| (b) Change in inventories of Stock-in-Trade | 1,50,000 | 1,00,000 | (50,000) | (33.33%) | |
| (c) Employees Benefit Expenses | 1,00,000 | 1,00,000 | |||
| (d) Other Expenses | 1,50,000 | 2,00,000 | 50,000 | 33.33% | |
| Total Expenses | 32,50,000 | 38,00,000 | 5,50,000 | 16.92% | |
| V. Profit after Tax (V-VI) | 7,50,000 | 12,00,000 | 4,50,000 | 60.00% | |
Balance Sheet: Meaning, Format & Examples
Thanks, Please Like and share with your friends
Comment if you have any question.
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
Advertisement-X
