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Question 28 Chapter 2 VK Publications Class 12 Part 2 – 2021

Question no. 28 VK Publications
Question no. 28 VK Publications

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Question 28 Chapter 2 VK Publications Class 12 Part 2 – 2021

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28. Prepare a Common Size Income Statement of Kanpur Leather Ltd. from the following information:

Particulars31st March2018 (Rs.)31st March2017 (Rs.)
I. Revenue from Operations 1,37,20098,000
II. Other Incomes 2,8002,000
III. Total Revenue (I + II) 1,40,0001,00,000
IV. Expenses   
Cost of Material Consumed 88,20065,000
Employees Benefit Expenses 19,60011,000
Other Expenses 1,4001,000
Total Expenses 1,09,20077,000
V. Profit before Tax (III-IV) 30,80023,000
VI. Less : Income Tax 16,80014,000
VII. Profit after Tax (V-VI) 14,0009,000

The solution of Question 28 Chapter 2 VK Publications Class 12 Part 2: –

Common Size Balance Sheet Statement For the years ended 31st March,2017 and 2018

ParticularsNoteAbsolute Amounts Percentage of the Balance sheet Total
  31.03.2017.31.03.2018.31.03.2017.31.03.2018.
  Rs.Rs.%%
      
I. Revenue from Operations 98,0001,37,200100100.00
II. Other income 2,0002,8002.042.04
III. Total Revenue from Operations (I+II) 1,00,0001,40,000102.04102.04
IV. Expenses     
Cost of Material Consumed 65,00088,20066.3264.29
Employees Benefits Expenses 11,00088,20011.2214.29
Other Expense 1,0001,4001.021.02
Total Expense 77,0001,09,20078.5779.59
V. Profit before Tax (III-IV) 23,00030,80023.4722.44
VI. Less: Tax 14,00016,80014.2912.24
VII. Profit after Tax (V-VI) 9,00014,0009.1810.20

 

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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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