Question 14 Chapter 2 of +2-B

Question 14 Chapter 2 of +2-B

Comparative Statement of Profit & Loss

14. From the following information prepare a comparative Statement of Profit and Loss :

Particular31st March 201631st March 2015
Revenue from Operations3,00,0002,00,000
Other Income60,00050,000
Cost of Revenue from Operation1,54,0001,00,000
Employee benefit expenses40,00025,000
Other Expenses15,00020,000
Tax Rate30%30%

 

The solution of Question 14 Chapter 2 of +2-B: – 

 

Comparative Balance Sheet of Sun Ltd.
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 2,00,0003,00,0001,00,00050.00%
Other Incomes 50,00060,00010,00020.00%
Total  2,50,0003,60,0001,10,00044.00%
Less: Cost of Revenue from Operation 1,00,0001,45,00045,00045.00%
Employee benefit Expenses 25,00040,00015,00060.00%
Other Expenses 20,00015,000(5,000)(25.00%)
Total 1,45,0002,00,00055,00037.93%
Profit Before Tax 1,05,0001,50,00045,00042.86%
Less: Tax (WN) 31,50045,00013,50042.86%
Profit After Tax 73,5001,05,00031,50042.86%


Working Note:


Tax for year ended 31st March 2015

30% of Profit₹1,05,000x30
100
 =₹31,500  

Tax for year ended 31st March 2016

30% of Profit₹1,50,000x30
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

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 3 min 225x300 - Question 14 Chapter 2 of +2-B  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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