Question 29 Chapter 6 – Unimax Publication Class 12 Part 2 – 2021
Table of Contents
From the following information, prepare common size statement of X Ltd.
| Particulars |
2021 | 2022 |
| Revenue from operation | 120% of COGS | 150% of COGS |
| Cost of revenue from operation | 1,00,000 | 1,50,000 |
| Indirect expenses | 5% G.P | 10% of G.P |
| Direct expenses | 500 | 500 |
| Income tax | 30% | 30% |
| Interest on investment | 600 | 800 |
The solution of Question 29 Chapter 6 -Unimax Publication Class 12 Part 2 – 2021 : –
Common Size Income statement
| Particulars |
2021 |
Percentage | 2022 | Percentage |
| Revenue form operation | 1,20,000 | 100.00 | 2,25,000 | 100.00 |
| Add Interest on Investment | 600 | 0.5 | 800 | 0.35 |
| Total revenue | 1,20,600 | 100.5 | 2,25,800 | 100.35 |
| Less expenses | ||||
| Cost of revenue form operation | 1,00,000 | 83.33 | 1,50,000 | 66.67 |
| Indirect expenses | 1,000 | 0.83 | 7,500 | 3.33 |
| Total expenses | 1,01,000 | 84.16 | 1,57,500 | 70.00 |
| Net Profit before tax | 19,600 | 16.33 | 68,300 | 30.36 |
| Less income tax | 5,880 | 4.9 | 20,490 | 9.11 |
| Net Profit after tax | 13,720 | 11.43 | 47,810 | 21.25 |
Working Notes:
| Gross profit = | Sales – Cost of cost sold |
| Gross profit 2021 = | 1,20,000 – 1,00,000 = 20,000 |
| Gross profit 2022 = | 2,25,000 – 1,50,000 = 75,000 |
| Now Indirect tax 2021 | = 20,000 X 5/100 = 1,000 |
| 2022 | = 75,000 X 10/100 = 7,500 |
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Comparative Statements – Balance Sheet & Profit and Loss
Unimax Publication – Accountancy PSEB Class 12 – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Change in Profit sharing ratio among Existing Partners )
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Unimax Publication – Accountancy PSEB (Class 12) – Part – II – Solution
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Company Accounts (Issue of Debentures)
- Chapter No. 3 – Company Accounts (Redemption of Debentures)
- Chapter No. 4 – Financial Statements of a Company
- Chapter No. 5 – Financial Statement Analysis
- Chapter No. 6 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
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