Question 30 Chapter 6 – Unimax Publication Class 12 Part 2 – 2021
Table of Contents
Prepare common size income statement:
| Particulars |
2021 | 2022 |
| Revenue from operation(sales) | 1,00,000 | 1,50,000 |
| Cost of goods sold | 30% of sales | 35% of sales |
| Income tax | 25% of net profit | 25% of net profit |
| Indirect expenses | 25% of G.P | 20% of G.P |
The solution of Question 30 Chapter 6 – Unimax Publication Class 12 Part 2 – 2021 : –
Common Size Income statement
| Particulars |
note no | 2021 |
Percentage | 2022 | Percentage |
| Revenue form operation | 1,00,000 | 100.00 | 1,50,000 | 100.00 | |
| Add other income | – | – | – | – | |
| Total revenue | 1,00,000 | 100.00 | 1,50,000 | 100.00 | |
| Less expenses | |||||
| Cost of goods sold | 30,000 | 30.00 | 52,500 | 35.0 | |
| Indirect expenses | 17,000 | 17.50 | 19,500 | 13.00 | |
| Total expenses | 47,500 | 47.50 | 72,000 | 48.00 | |
| Net Profit before tax | 52,500 | 52.50 | 78,000 | 52.00 | |
| Less income tax | 13,125 | 13.12 | 19,500 | 13.00 | |
| Net Profit after tax | 39,375 | 39.38 | 58,500 | 39.00 |
Working Notes:
| Gross profit | = Sales – Cost of cost sold |
| Gross profit 2021 | = 1,00,000 – 30,000 = 70,000 |
| Gross profit 2022 | = 1,50,000 – 52,500 = 97,500 |
| Now Indirect tax | |
| 2021 | = 70,000 X 25/100 = 17,500 |
| 2022 | = 97,500 X 20/100 = 19,500 |
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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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