Question 17 Chapter 2 VK Publications Class 12 Part 2

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