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Question 20 Chapter 2 VK Publications Class 12 Part 2 – 2021

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Question 20 Chapter 2 VK Publications Class 12 Part 2 – 2021

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20. Prepare a Comparative Income Statement of Mahavir Ltd. with the help of the following information:

Particulars2018 (Rs.)2017 (Rs.)
Revenue from Operations 9,00,0006,00,000
Expenses 6,00,0003,50,000
Cost of Material Consumed 75,00060,000
Other Expenses 40,00030,000
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

ParticularsNote2017 Rs.2018 Rs.Absolute
Change Rs.
Percentage
Change %
1 2345
  ABB – A = C C/A X 100 = D
      
I. Revenue from Operations 6,00,0009,00,0003,00,00050.00
II. Expenses     
Cost of Material consumed 3,50,0005,00,0001,50,00042.85
Employees Benefit Expense 60,00075,00015,00025.00
Other Expense 30,00040,00010,00033.33
Total Expense 4,40,0006,15,0001,75,00039.77
III. Profit before Tax (I-II) 1,60,0002,85,0001,25,00078.12
IV. Less: Income Tax 40,00099,75059,750149.37
V. Profit after Tax (III-IV) 1,20,0001,85,25065,25054.37

 

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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)

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T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

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