Question 8 Chapter 3 of +2-B
Table of Contents
Comparative Statement of Profit and Loss (Income Statement)
8. Following information is extracted from the Statement of Profit and Loss of Gold Coins Ltd. For the year ended 31st March, 2015:
| Particulars | 31st March, | 31st March, |
| 2015 | 2014 | |
| Revenue from Operations | 60,00,000 | 45,00,000 |
| Employee Benefit Expenses | 30,00,000 | 22,50,000 |
| Depreciation | 7,50,000 | 6,00,000 |
| Other Expenses | 15,50,000 | 10,00,000 |
| Tax Rate | 30% | 30% |
The solution of Question 8 Chapter 3 of +2-B: –
| Comparative Balance Sheet of Sun Ltd. |
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|
Particulars (1) |
Note no. (2) |
31st March, 2018 (A) (3) |
31st March, 2019 (B) (4) |
Absolute Change (Increase/ Decrease) (C=B-A) (5) |
Percentage Change (Increase/ Decrease) (D=C/A x 100) (6) |
| I. Revenue from Operations | 45,00,000 | 60,00,000 | 15,00,000 | 33.33% | |
| II. Expenses | |||||
| (a) Employee Benefit Expenses | 22,50,000 | 30,00,000 | 7,50,000 | 33.33% | |
| (b) Depreciation | 6,00,000 | 7,50,000 | 1,50,000 | 25.00% | |
| (c) Other Expenses | 10,00,000 | 15,50,000 | 5,50,000 | 55.00% | |
| Total Expenses | 38,50,000 | 53,00,000 | 14,50,000 | 40.84% | |
| III. Profit before Tax (I-II) | 6,50,000 | 7,00,000 | 50,000 | 7.69% | |
| IV. Less: Income Tax | 1,95,000 | 2,10,000 | 15,000 | 7.69% | |
| V. Profit after Tax (III-IV) | 4,55,000 | 4,90,000 | 35,000 | 7.69% | |
To understand more about Balance Sheet please check out following links:
Balance Sheet: Meaning, Format & Examples
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Also, Check out the solved question of previous Chapters: –
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
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