Question 5 Chapter 2 VK Publications Class 12 Part 2 – 2021

Question no. 5 VK Publication
Question no. 5 VK Publication

Question 5 Chapter 2 VK Publications Class 12 Part 2 – 2021

5. Prepare a Comparative Income Statement from the following data of Rajasthan, Ltd.:

Particulars Note No. 31st March,2017 (Rs.) 31st March, 2016 (Rs.)
Revenue from Operations   1,74,000 1,47, 000
Employees Benefit Expenses   1,04,000 87,000
Other Expenses   30,000 25,000
Tax Rate 20%      

The solution of Question 5 Chapter 2 VK Publications Class 12 Part 2: –

Comparative Statement of Profit and Loss of Rajasthan Hardwares Ltd. For the year 31st March, 2016 & 2017

Particulars Note 2016-2017 Rs. 2017-2018 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   1,47,000 1,74,000 27,000 18.36
II. Expenses          
Employees Benefit Expense   87,000 1,04,000 17,000 19.54
Other Expense   25,000 30,000 5,000 20.00
Total Expense   1,12,000 1,34,000 22,000 19.64
III. Profit before Tax (I-II)   35,000 40,000 5,000 14.28
IV. Less: Tax @ 20%   7,000 8,000 1,000 14.28
V. Profit after Tax (III-IV)   28,000 32,000 4,000 14.28

 

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)

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

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

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

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