Question 14 Chapter 2 of +2-B
Table of Contents
Comparative Statement of Profit & Loss
14. From the following information prepare a comparative Statement of Profit and Loss :
| Particular | 31st March 2016 | 31st March 2015 |
| Revenue from Operations | 3,00,000 | 2,00,000 |
| Other Income | 60,000 | 50,000 |
| Cost of Revenue from Operation | 1,54,000 | 1,00,000 |
| Employee benefit expenses | 40,000 | 25,000 |
| Other Expenses | 15,000 | 20,000 |
| Tax Rate | 30% | 30% |
The solution of Question 14 Chapter 2 of +2-B: –
| comparative Statement of Profit and Loss | |||||
| Particulars |
Note no. | 31st March, 2015 (A) (3) |
31st March, 2016 (B) (4) |
Absolute Change (Increase /Decrease) (C=B-A) (5) |
Percentage C hange (Increase /Decrease) (D=C/A x 100) (6) |
| Revenue from Operation | 2,00,000 | 3,00,000 | 1,00,000 | 50.00% | |
| Other Incomes | 50,000 | 60,000 | 10,000 | 20.00% | |
| Total | 2,50,000 | 3,60,000 | 1,10,000 | 44.00% | |
| Less: Cost of Revenue from Operation | 1,00,000 | 1,45,000 | 45,000 | 45.00% | |
| Employee benefit Expenses | 25,000 | 40,000 | 15,000 | 60.00% | |
| Other Expenses | 20,000 | 15,000 | (5,000) | (25.00%) | |
| Total | 1,45,000 | 2,00,000 | 55,000 | 37.93% | |
| Profit Before Tax | 1,05,000 | 1,50,000 | 45,000 | 42.86% | |
| Less: Tax (WN) | 31,500 | 45,000 | 13,500 | 42.86% | |
| Profit After Tax | 73,500 | 1,05,000 | 31,500 | 42.86% | |
Working Note:
Tax for year ended 31st March 2015
| 30% of Profit | = | ₹1,05,000 | x | 30 |
| 100 | ||||
| = | ₹31,500 |
Tax for year ended 31st March 2016
| 30% of Profit | = | ₹1,50,000 | x | 30 |
| 100 | ||||
| = | ₹45,000 |
To understand more about Balance Sheet please check out following links:
Balance Sheet: Meaning, Format & Examples
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Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
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