Question 19 Chapter 3 of +2-B
Table of Contents
Comparative Statement of Profit and Loss (Income Statement)
19. Prepare Common-size Statement of Profit and Loss from the Following Statement of Profit and Loss:
| Particulars | Note No. | year I (Rs.) | Year II (Rs.) |
| I. Income | |||
| Revenue from Operations(Net Sales) | 14,00,000 | 16,00,000 | |
| II. Expenses | |||
| Purchases of Stock-in-Trade | 9,00,000 | 10,00,000 | |
| Change in Inventories of Stock-in-Trade | 1,00,000 | 1,80,000 | |
| Finance Costs | 80,000 | 80,000 | |
| Other Expenses | 90,000 | 1,30,000 | |
| Total | 11,70,000 | 13,90,000 | |
| III. Net Profit Tax (I-II) | 2,30,000 | 2,10,000 | |
| IV. Less: Tax | 40,000 | 36,000 | |
| V. Net Profit after Tax (III-IV) | 1,90,000 | 1,74,000 |
The solution of Question 19 Chapter 3 of +2-B: –
| Comparative Balance Sheet of Sun Ltd. |
|||||
|
Particulars (1) |
Note no. (2) |
Absolute Amounts | Percentage of Revenue from Operations (net Sales) |
||
| Year I |
Year II |
Year I (%) |
Year II (%) |
||
| I. Income | |||||
| Revenue from Operations | 14,00,000 | 16,00,000 | 100.00% | 100.00% | |
| II. Expenses | |||||
| Purchases of Stock-in-Trade | 9,00,000 | 10,00,000 | 64.29% | 62.50% | |
| Change in Inventories of Stock-in-Trade | 1,00,000 | 1,80,000 | 7.14% | 11.25% | |
| Finance Costs | 80,000 | 80,000 | 5.71% | 5.00% | |
| Other Income | 90,000 | 1,30,000 | 6.43% | 8.13% | |
| Total | 11,70,000 | 13,90,000 | 83.57% | 86.87% | |
| III. Profit before Tax (I-II) | 2,30,000 | 2,10,000 | 16.43% | 13.13% | |
| IV. Less: Tax | 40,000 | 36,000 | 2.85% | 2.25% | |
| V. Profit before Tax (III-IV) | 1,90,000 | 1,74,000 | 13.57% | 10.88% | |
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
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