# Question 13 Chapter 6 -Unimax Publication Class 12 Part 2 – 2021

Question No 13 Chapter No -6 Unimax Class - 12 Part - II

Question 13 Chapter 6 – Unimax Publication Class 12 Part 2 – 2021

From the following information, prepare comparative income statements of X Ltd.

 Particulars 2021 2022 Revenue from operation 120% of COGS 150% of COGS Cost of revenue from operation 10,00,000 15,00,000 Direct expenses 5,000 5,000 Indirect expenses 5% of G.P 10% of G.P Income tax 30% 30% Interest on investment 6,000 8,000

## The solution of Question 13 Chapter 6 – Unimax Publication Class 12 Part 2-2021: –

Comparative Income Statement of X Ltd.

 Particulars noteNo 2021A 2022B Absolute changeB-A =C Percentage changeC/A Revenue form operations 12,00,000 2,25,000 9,75,000 81.25 Add other income (interest on investment 6,000 8,000 2,000 33.33 Total revenue 12,06,000 2,33,000 9,73,000 80.68 Less expenses: Cost of goods sold 10,00,000 15,00,000 5,00,000 50.00 Indirect expenses 10,000 75,000 65,000 65.00 Total expenses 10,10,000 15,75,000 5,65,000 55.69 Net Profit before tax 1,96,000 13,42,000 11,46,000 584.69 Less income tax 58,800 4,02,600 3,43,800 584.69 Net Profit after tax 1,37,200 9,39,400 8,02,200 584.69

Working note:

 Revenue from Operation =120% of COG Sold Rev. From Operation (2021) = 120/ x 10,00,000 = 12,00,000 Rev. From Operation (2022) = 150/100 x 15,00,000 = 2,25,000 Gross Profit 2021= Sales-cost of Goods Sold =12,00,000 -10,00,000 = 2,00,000 Gross Profit (2022) =22,50,000 – 15,00,000 = 7,50,000 Indirect Expenses : (2021) (2022) 5%of G.P 10% of G.P 2,00,000 x 5/100 7,50,000 x 10/100 =10,000 =75,000

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Comparative Statements – Balance Sheet & Profit and Loss