Question 17 Chapter 2 VK Publications Class 12 Part 2 – 2021
Table of Contents
17. From the following information, prepare a Comparative Income Statement showing increase, decrease and percentage changes:
| Particulars | 31st March 2017 (Rs.) | 31st March, 2016 (Rs.) | |
| Revenue from Operations | 6,00,000 | 4,00,000 | |
| Cost of Material Consumed | 4,00,000 | 3,20,000 | |
| Employees Benefits Expenses | 20,000 | 16,000 | |
| Income Tax (being 50%) | 90,000 | 32,000 | |
| Net Profit after Tax | 90,000 | 32,000 | |
Compute percentage changes from 2017 to 2018.
The solution of Question 17 Chapter 2 VK Publications Class 12 Part 2: –
Comparitive Income Statement For the years ended 31st March, 2016 & 2017
| Particulars | Note | 2016-2017 Rs. | 2017-2018 Rs. | Absolute Change Rs. |
Percentage Change % |
| 1 | 2 | 3 | 4 | 5 | |
| A | B | B – A = C | C/A X 100 = D | ||
| I. Revenue from Operations | 4,00,000 | 6,00,000 | 2,00,000 | 50.00 | |
| II. Expenses | |||||
| Cost of the material consumed | 3,20,000 | 4,00,000 | 80,000 | 25.00 | |
| Employees benefits expenses | 16,000 | 20,000 | 4,000 | 25.00 | |
| Total Expense | 3,36,000 | 4,20,000 | 84,000 | 25.00 | |
| III. Profit before Tax (I-II) | 64,000 | 1,80,000 | 1,16,000 | 181.25 | |
| IV. Less: Tax @ 50% | 32,000 | 90,000 | 58,000 | 181.25 | |
| V. Profit after Tax | 32,000 | 90,000 | 58,000 | 181.25 |
Financial Statement Analysis and its tools or Techniques
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