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Question 54 Chapter 1 VK Publications Class 12 Part 2 – 2021
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Table of Contents
54. Prepare Statement of Profit and Loss from the following particulars:
Revenue firom Operations Rs 5,00,000
Expenses Rs. 3,00,000
Other Income Rs. 1,00,000
Income Tax 50%
The solution of Question 54 Chapter 1 VK Publications Class 12 Part 2: –
Statement of Profit and Loss for the year ended …………..
| Particulars | Note No. | Current Year Rs. | Previous Year Rs. |
| I. Revenue from Operations | 5,00,000 | ||
| II. Expenses | 1,00,000 | ||
| III. Total Revenue (I+II) | 6,00,000 | ||
| IV. Expense | 3,00,000 | ||
| V. Profit before Tax (III-IV) | 3,00,000 | ||
| VI. Income Tax @ 50% | 1,50,000 | ||
| VII. Profit after Tax (V-VI) | 1,50,000 |
Financial Statements of a Company and Its formats
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T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication