Question 15 Chapter 13 of Class 12 Part – 2 – 2024

Question 15 Chapter 13 of Class 12 Part – 2 – 2024

Comparative Statement of Profit & Loss

15. From the following information prepare a comparative Statement of Profit and Loss :

Particular	31st March 2016	31st March 2015
Revenue from Operations	2,00,000	2,00,000
Cost of Revenue from Operation	70% of Revenue from Operations	60% of Revenue from Operations
Other Expenses	12,000	10,000
Tax Rate	50%	50%

The solution of Question 15 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		2,00,000	2,00,000	–	–
Less: Cost of Material Consumed (WN)		1,20,000	1,40,000	20,000	16.67%
Other Expenses		10,000	12,000	2,000	20.00%
Total		1,30,000	1,52,000	22,000	16.92%
Profit Before Tax		70,000	48,000	(22,000)	31,43%
Less: Tax 50%		35,000	24,000	(11,000)	31,43%
Profit After Tax		35,000	24,000	(11,000)	31,43%

Working Note:

Cost of Material Consumed for the year ended 31st March 2016

70% of Revenue from Operations	=	₹ 2,00,000	x	70
				100
	=	₹1,40,000

Cost of Material Consumed for the year ended 31st March 2015

70% of Revenue from Operations	=	₹2,00,000	x	60
				100
	=	₹1,20,000

 

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