Question 15 Chapter 2 of +2-B – USHA Publication 12 Class

Question 15 Chapter 2 of +2-B

Question 15 Chapter 2 of +2-B

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 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   2,00,000 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

Chapter No. 3 – Partnership Accounts – II (Introduction)

Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)

Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)

Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)

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 (Balance Sheet Only)

Chapter No. 2 – Techniques of Financial Statement Analysis

Chapter No. 3 – Ratio Analysis 

Chapter No. 4 – Cash Flow Statement

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

2 Book 3 min 225x300 - Question 15 Chapter 2 of +2-B  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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