Question 20 Chapter 2 VK Publications Class 12 Part 2 – 2021
Table of Contents
20. Prepare a Comparative Income Statement of Mahavir Ltd. with the help of the following information:
| Particulars | 2018 (Rs.) | 2017 (Rs.) | |
| Revenue from Operations | 9,00,000 | 6,00,000 | |
| Expenses | 6,00,000 | 3,50,000 | |
| Cost of Material Consumed | 75,000 | 60,000 | |
| Other Expenses | 40,000 | 30,000 | |
| Income Tax | 35% | 25% | |
The solution of Question 20 Chapter 2 VK Publications Class 12 Part 2: –
Comparative Income Statement of Mahavir Ltd. For the years 2017 & 2018
| Particulars | Note | 2017 Rs. | 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 | 6,00,000 | 9,00,000 | 3,00,000 | 50.00 | |
| II. Expenses | |||||
| Cost of Material consumed | 3,50,000 | 5,00,000 | 1,50,000 | 42.85 | |
| Employees Benefit Expense | 60,000 | 75,000 | 15,000 | 25.00 | |
| Other Expense | 30,000 | 40,000 | 10,000 | 33.33 | |
| Total Expense | 4,40,000 | 6,15,000 | 1,75,000 | 39.77 | |
| III. Profit before Tax (I-II) | 1,60,000 | 2,85,000 | 1,25,000 | 78.12 | |
| IV. Less: Income Tax | 40,000 | 99,750 | 59,750 | 149.37 | |
| V. Profit after Tax (III-IV) | 1,20,000 | 1,85,250 | 65,250 | 54.37 |
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