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Question 14 Chapter 3 of +2-B
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Table of Contents
Comparative Statement of Profit and Loss (Income Statement)
14. From the following Statement of Profit and Loss, prepare comparative
Statement of Profit and Loss:
| Particulars | 31st March, | 31st March, |
| 2019 | 2018 | |
| Revenue from Operations | 37,50,000 | 25,00,000 |
| Other Income | 4,50,000 | 5,00,000 |
| Cost of Materials Consumed | 22,50,000 | 12,50,000 |
| Other Expenses | 3,75,000 | 2,50,000 |
| Tax Rate | 50% | 50% |
The solution of Question 14 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 | 25,00,000 | 37,50,000 | 12,50,000 | 50.00% | |
| Other Income | 5,00,000 | 4,50,000 | (50,000) | (10.00%) | |
| Total Revenue | 30,00,000 | 42,00,000 | 12,00,000 | 40.00% | |
| II. Expenses | |||||
| (a) Cost of Materials Consumed | 12,50,000 | 22,50,000 | 10,00,000 | 80.00% | |
| (b) Other Expenses | 2,50,000 | 3,75,000 | 1,25,000 | 50.00% | |
| Total Expenses | 15,00,000 | 26,25,000 | 5,000 | 75.00% | |
| III. Profit before Tax (I-II) | 15,00,000 | 15,75,000 | 75,000 | 05.00% | |
| IV. Less: Tax 50% | 7,50,000 | 7,87,500 | 37,500 | 05.00% | |
| V. Profit After Tax (I-II) | 7,50,000 | 7,87,500 | 37,500 | 05.00% | |
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)
- 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
