Question 18 Chapter 2 VK Publications Class 12 Part 2 – 2021
Table of Contents
18. From the following information, prepare a Comparative Income Statement:
| Particulars | 31st March 2018 (Rs.) | 31st March, 2017 (Rs.) | |
| I. Revenue from Operations | 4,54,000 | 2,92,000 | |
| II. Add: Other Incomes | 28,000 | 24,000 | |
| III. Total Revenue (I+II) | 4,82,000 | 3,16,000 | |
| IV. Expenses: | |||
| Cost of Material Consumed | 1,28,000 | 1,26,000 | |
| Employees Benefits Expenses | 27,000 | 25,000 | |
| Other Expenses | 24,000 | 18,000 | |
| V. Profit before Tax (III-IV) | 3,03,000 | 1,47,000 | |
| VI. Less: Tax | |||
| VII. Net Profit (V-VI) | 3,03,000 | 1,47,000 | |
The solution of Question 18 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 | 2,92,000 | 4,54,000 | 1,62,000 | 55.47 | |
| II. Other Income | 24,000 | 28,000 | 4,000 | 16.67 | |
| III. Total revenue | 3,16,000 | 4,82,000 | 1,66,000 | 52.53 | |
| IV. Expenses | |||||
| Cost of Material consumed | 1,26,000 | 1,28,000 | 2,000 | 1.59 | |
| Employees Benefit Expense | 25,000 | 27,000 | 2,000 | 8.00 | |
| Other Expense | 18,000 | 24,000 | 6,000 | 33.33 | |
| Total Expense | 4,40,000 | 6,15,000 | 1,75,000 | 5.91 | |
| V. Profit before Tax (I-II) | 1,47,000 | 3,03,000 | 1,56,000 | 106.12 | |
| VI. Less: Income Tax | |||||
| VII. Profit after Tax (III-IV) | 1,47,000 | 3,03,000 | 1,56,000 | 106.12 |
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