Question 19 Chapter 2 VK Publications Class 12 Part 2 – 2021
Table of Contents
19. Prepare a for Financial Comparative Income Statement of X Ltd. with the help of the following information:
| Particulars | 31st March 2018 (Rs.) | 31st March, 2017 (Rs.) | |
| Revenue from Operations | 4,00,000 | 2,50, 000 | |
| Expenses: | |||
| Cost of Material Consumed | 2,80,000 | 1,50,000 | |
| Other Expenses | 18,000 | 15,000 | |
| Rate of Income Tax (20%) | |||
The solution of Question 19 Chapter 2 VK Publications Class 12 Part 2: –
Comparative Income Statement of X Ltd. As at 31st March, 2017 & 2018
| 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 | 2,50,000 | 4,00,000 | 1,50,000 | 60.00 | |
| II. Expenses | |||||
| Cost of Material consumed | 1,50,000 | 2,80,000 | 1,30,000 | 86.67 | |
| Other Expense | 15,000 | 18,000 | 3,000 | 33.33 | |
| Total Expense | 1,65,000 | 2,98,000 | 1,33,000 | 80.61 | |
| III. Profit before Tax (I-II) | 85,000 | 1,02,000 | 17,000 | 20.00 | |
| IV. Less: Income Tax | 17,000 | 20,400 | 3,400 | 20.00 | |
| V. Profit after Tax (III-IV) | 68,000 | 81,600 | 13,600 | 20.00 |
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