Question 14 Chapter 3 of +2-B – T.S. Grewal 12 Class

Question 14 Chapter 3 of +2-B

Question 14 Chapter 3 of +2-B

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)

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

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