Question 8 Chapter 3 of +2-B – T.S. Grewal 12 Class

Question 8 Chapter 3 of +2-B

Question 8 Chapter 3 of +2-B

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.

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

Thanks, Please Like and share with your friends  

Comment if you have any question.

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)

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

2 Book 3 min 225x300 - Question 8 Chapter 3 of +2-B  - T.S. Grewal 12 Class
T.S. Grewal’s Analysis of Financial Statements

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.