Question 9 Chapter 3 of +2-B
Table of Contents
Comparative Statement of Profit and Loss (Income Statement)
9. Prepare Comparative Statement of Profit and Loss from the Following Statement of Profit and Loss:
| Particulars | Note No. | 31st March, | 31st March, |
| 2019 | 2018 | ||
| I. Income | |||
| Revenue from Operations (Net Sales) | 3,50,000 | 3,00,000 | |
| II. Expenses | |||
| Purchases of Stock-in-Trade | 2,10,000 | 1,80,000 | |
| Change in Inventories of Stock-in-Trade | 15,000 | 20,000 | |
| Employee Benefit Expenses | 17,000 | 15,000 | |
| Other Expenses | 7,500 | 5,000 | |
| Total | 2,50,000 | 2,20,000 | |
| III. Profit before Tax (I-II) | 1,00,000 | 80,000 | |
| IV. Less: Tax | 30,000 | 24,000 | |
| V. Profit after Tax (III-IV) | 70,000 | 56,000 |
The solution of Question 9 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. Income | |||||
| Revenue from Operations (Net Sales) | 3,00,000 | 3,50,000 | 50,000 | 16.66% | |
| II. Expenses | |||||
| Purchases of Stock-in-Trade | 1,80,000 | 2,10,000 | 30,000 | 16.66% | |
| Change in Inventories of Stock-in-Trade | 20,000 | 15,000 | (5,000) | 25.00% | |
| Employee Benefit Expenses | 15,000 | 17,500 | 2,500 | 16.66% | |
| Other Expenses | 5,000 | 7,500 | 2,500 | 50.00% | |
| Total | 2,20,000 | 2,50,000 | 30,000 | 13.63% | |
| III. Profit before Tax (I-II) | 80,000 | 1,00,000 | 20,000 | 25.00% | |
| IV. Less: Income Tax | 24,000 | 30,000 | 6,000 | 25.00% | |
| V. Profit after Tax (III-IV) | 56,000 | 70,000 | 14,000 | 25.00% | |
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
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