Question 10 Chapter 13 of Class 12 Part – 2 – 2024

Question 10 Chapter 13 of Class 12 Part – 2 – 2024

Comparative Statement of Profit & Loss

10. From the following information prepare a comparative Statement of Profit and Loss for the year ended 31st March 2016 and 2015

Particular	31st March 2016	31st March 2015
Revenue from Operations	8,50,000	7,00,000
Material Consumed	4,20,000	3,30,000
Manufacturing and Office Expenses	2,60,000	2,40,000
Other Incomes	30,000	30,000

Other Information
Income tax is calculated @50%
Manufacturing expenses are 50% of the total of that category.

The solution of Question 10 Chapter 13 of Class 12 Part – 2 – 2024: –

Comparative Balance Sheet of Sun Ltd.
Particulars	Note no.	31st March, 2015 (A) (3)	31st March, 2016 (B) (4)	Absolute Change (Increase /Decrease) (C=B-A) (5)	Percentage C hange (Increase /Decrease) (D=C/A x 100) (6)
Revenue from Operation		7,00,000	8,50,000	1,50,000	21.43%
Other Incomes		30,000	30,000	–	–
Total		7,30,000	8,80,000	1,50,000	20.55%
Less: Material Consumed		3,30,000	4,20,000	90,000	27.27%
Manufacturing Expenses (WN)		1,20,000	1,30,000	10,000	8.33%
Other Expenses		1,20,000	1,30,000	10,000	8.33%
Total Expenses		5,70,000	6,80,000	1,10,000	19.30%
Profit Before Tax		1,60,000	2,00,000	40,000	25.00%
Less: Tax 50%		80,000	1,00,000	20,000	25.00%
Profit after Tax		80,000	1,00,000	20,000	25.00%

Working Note:

Cost of Material consumed for the year 2015

50% of Revenue from Operation	=	₹2,40,000	x	50
				100
	=	₹1,20,000

Cost of Material consumed for the year 2016

50% of Manufacturing and Office Expenses	=	₹2,60,000	x	50
				100
	=	₹1,30,000

 

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