Question 13 Chapter 3 of +2-B – T.S. Grewal 12 Class

Question 13 Chapter 3 of +2-B

Question 13 Chapter 3 of +2-B

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

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

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