Question 11 Chapter 13 of Class 12 Part – 2 – 2024

Question 11 Chapter 13 of Class 12 Part – 2 – 2024

Comparative Statement of Profit & Loss

11.From the following Statement of Profit and Loss prepare a comparative Statement of Profit and Loss.

Particular	31st March 2016	31st March 2015
I.Income	30,00,000	25,00,000
Revenue from Operations
Other Incomes	6,00,000	5,00,000
Total	36,00,000	30,00,000
II.Expenses
Purchase of stock in trade	15,00,000	12,00,000
Change in inventories of stock in trade	4,00,000	4,00,000
Employees benefit expenses	3,00,000	2,00,000
Other Expenses	8,00,000	7,00,000
Total	30,00,000	25,00,000
III.Net Profit	6,00,000	5,00,000

The solution of Question 11 Chapter 13 of Class 12 Part – 2 – 2024: –

comparative Statement of Profit and Loss
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		25,00,000	30,00,000	5,00,000	20.00%
Other Incomes		5,00,000	6,00,000	1,00,000	20.00%
Total		30,00,000	36,00,000	6,00,000	20.00%
Less: Purchase of Stock		12,00,000	15,00,000	3,00,000	25.00%
Change in Stock		4,00,000	4,00,000	–	–
Employees Expenses		2,00,000	3,00,000	1,00,000	50.00%
Other Expenses		7,00,000	8,00,000	1,00,000	14.29%
Total		25,00,000	30,00,000	5,00,000	20.00%
Profit after Tax		5,00,000	6,00,000	1,00,000	20.00%

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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