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

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

Comparative Statement of Profit & Loss

12. Prepare a comparative Statement of Profit and Loss from the following :

Particular	31st March 2016	31st March 2015
Revenue from Operations	160% of the cost of Revenue from Operation	140% of the cost of Revenue from Operation
Purchases	450000	250000
Cost of Revenue from Operation	500000	300000
Administrative Expenses	8% of ₹ 5,00,000	10% of ₹ 3,00,000
Income Tax	0.5	0.4

The solution of Question 12 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 (WN1)		4,20,000	8,00,000	3,80,000	90.48%
Less: Cost of Revenue from Operation		3,00,000	5,00,000	2,00,000	66.67%
Administrative Expenses (WN2)		30,000	40,000	10,000	33.33%
Total Expenses		3,30,000	5,40,000	2,10,000	63.63%
Profit Before Tax		90,000	2,60,000	1,70,000	188.89%
Less: Income Tax (WN3)		36,000	1,30,000	94,000	261.11%
Profit after Tax		54,000	1,30,000	76,000	140.74%

Working Note: (Win.1)

Cost of Material consumed for the year 2015

140% of cost of Revenue from Operation	=	₹3,00,000	x	140
				100
	=	₹4,20,000

Revenue from Operation for year 2016

160% of cost of Revenue from Operation	=	₹5,00,000	x	160
				100
	=	₹8,00,000

(Win.2)

Administrative Expenses for year 2015

10% of cost of Revenue from Operation	=	₹3,00,000	x	100
				100
	=	₹30,000

Administrative Expenses for year 2016

8% of cost of Revenue from Operation	=	₹5,00,000	x	8
				100
	=	₹40,000

(Win.3)

Income Tax for year 2015

40% of Profit	=	₹54,000	x	40
				100
	=	₹36,000

Income Tax for year 2016

50% of Profit	=	₹2,60,000	x	160
				100
	=	₹1,30,000

 

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