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

Question 15 Chapter 2 of +2-B
Q-15- CH-2 Book 2 - Usha Pub. +2 Book 2020 - Solution

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Question 15 Chapter 2 of +2-B

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Comparative Statement of Profit & Loss

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

Particular31st March 201631st March 2015
Revenue from Operations2,00,0002,00,000
Cost of Revenue from Operation70% of Revenue from Operations60% of Revenue from Operations
Other Expenses12,00010,000
Tax Rate50%50%

 

The solution of Question 15 Chapter 2 of +2-B: – 

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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 2,00,0002,00,000
Less: Cost of Material Consumed (WN) 1,20,0001,40,00020,00016.67%
Other Expenses 10,00012,0002,00020.00%
Total  1,30,0001,52,00022,00016.92%
Profit Before Tax 70,00048,000(22,000)31,43%
Less: Tax 50% 35,00024,000(11,000)31,43%
Profit After Tax 35,00024,000(11,000)31,43%


Working Note:


Cost of Material Consumed for the year ended 31st March 2016

70% of Revenue from Operations₹ 2,00,000x70
100
 =₹1,40,000  

Cost of Material Consumed for the year ended 31st March 2015

70% of Revenue from Operations₹2,00,000x60
100
 =₹1,20,000  


To understand more about Balance Sheet please check out following links:

Balance Sheet: Meaning, Format & Examples

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Comment if you have any question.

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

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

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