Question 16 Chapter 3 of +2-B
Table of Contents
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. |
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|
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)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
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
