Question 9 Chapter 3 of +2-B – T.S. Grewal 12 Class

Question 9 Chapter 3 of +2-B

Question 9 Chapter 3 of +2-B

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.

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)

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 9 Chapter 3 of +2-B  - T.S. Grewal 12 Class
T.S. Grewal’s Analysis of Financial Statements

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