Question 19 Chapter 3 of +2-B – T.S. Grewal 12 Class

Question 19 Chapter 3 of +2-B

Question 19 Chapter 3 of +2-B

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)

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

2 Book 3 min 225x300 - Question 19 Chapter 3 of +2-B  - T.S. Grewal 12 Class
T.S. Grewal’s Analysis of Financial Statements

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