Question 15 Chapter 2 of +2-B
Table of Contents
Comparative Statement of Profit & Loss
15. From the following information prepare a comparative Statement of Profit and Loss :
| Particular | 31st March 2016 | 31st March 2015 |
| Revenue from Operations | 2,00,000 | 2,00,000 |
| Cost of Revenue from Operation | 70% of Revenue from Operations | 60% of Revenue from Operations |
| Other Expenses | 12,000 | 10,000 |
| Tax Rate | 50% | 50% |
The solution of Question 15 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 | 2,00,000 | – | – | |
| Less: Cost of Material Consumed (WN) | 1,20,000 | 1,40,000 | 20,000 | 16.67% | |
| Other Expenses | 10,000 | 12,000 | 2,000 | 20.00% | |
| Total | 1,30,000 | 1,52,000 | 22,000 | 16.92% | |
| Profit Before Tax | 70,000 | 48,000 | (22,000) | 31,43% | |
| Less: Tax 50% | 35,000 | 24,000 | (11,000) | 31,43% | |
| Profit After Tax | 35,000 | 24,000 | (11,000) | 31,43% | |
Working Note:
Cost of Material Consumed for the year ended 31st March 2016
| 70% of Revenue from Operations | = | ₹ 2,00,000 | x | 70 |
| 100 | ||||
| = | ₹1,40,000 |
Cost of Material Consumed for the year ended 31st March 2015
| 70% of Revenue from Operations | = | ₹2,00,000 | x | 60 |
| 100 | ||||
| = | ₹1,20,000 |
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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