Question 16 Chapter 3 of +2-B – T.S. Grewal 12 Class

Question 16 Chapter 3 of +2-B

Question 16 Chapter 3 of +2-B

Comparative Statement of Profit and Loss (Income Statement)

16. From the following Statement of Profit and Loss, prepare comparative
Statement of Profit and Loss:

Particulars Note No. 31st March,  31st March,
    2019 2018
I. Income      
Revenue from Operations(Net Sales)   20,00,000 17,50,000
Other Income   75,000 50,000
Total   20,75,000 18,00,000
II. Expenses      
Purchases of Stock-in-Trade   11,60,000 28,50,000
Change in Inventories of Stock-in-Trade   10,000 1,50,000
Employee Benefit Expenses  1 3,00,000 1,00,000
Depreciation and Amortisation Expenses   50,000 50,000
Other Expenses 2 90,000 75,000
Total   16,10,000 14,00,000
III. Net Profit (I-II)   4,65,000 4,00,000

 

Particulars 31st March, 31st March, 
  2019 2018
1. Employees Benefit Expenses    
Wages 3,00,000 3,00,000
2. Other Expenses    
Administrative and General Expenses 70,000 50,000
Miscellaneous Expenses 20,000 25,000
  90,000 75,000

The solution of Question 16 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   17,50,000 20,00,000 2,50,000 14.28%
Other Income   50,000 75,000 25,000 50.00%
Total Revenue   18,00,000 20,75,000 2,75,000 15.28%
II. Expenses          
Purchases of Stock-in-Trade   10,00,000 11,60,000 1,60,000 16.00%
Change in inventories of Stock-in-Trade   (25,000) 10,000 35,000 140.00%
Employees Benefit Expenses   3,00,000 3,00,000    
Depreciation and Amortisation Expenses   50,000 50,000    
Other Expenses   75,000 90,000 15,000 20.00%
IV. Less: Tax 50%   14,00,000 16,10,000 2,10,000 15.00%
V. Profit After Tax (I-II)   4,00,000 4,65,000 65,000 16.25%



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

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