Question 16 Chapter 13 of Class 12 Part – 2 – 2024

Question 16 Chapter 13 of Class 12 Part – 2 – 2024

Comparative Statement of Profit & Loss

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

Particular	31st March 2018	31st March 2017
Revenue from Operation (% of Other Income)	200%	200%
Other Income	1,50,000	2,00,000
Cost of Material Consumed (% of operating Revenue)	60%	50%
Expenses (% of Material Cost)	20%	20%
Tax Rate	30%	30%

The solution of Question 16 Chapter 13 of Class 12 Part – 2 – 2024: –

Comparative Statement of Profit & Loss
Particulars	Note no.	31st March, 2017 (A) (3)	31st March, 2018 (B) (4)	Absolute Change (Increase /Decrease) (C=B-A) (5)	Percentage change (Increase /Decrease) (D=C/A x 100) (6)
Revenue from Operation (WN 1)		4,00,000	3,00,000	(1,00,000)	(25.00%)
Other Incomes		2,00,000	1,50,000	(50,000)	(25.00%)
Total		6,00,000	4,50,000	(1,50,000)	(25.00%)
Less: Cost of Material Consumed (2)		2,00,000	1,80,000	(20,000)	10.00%
Employee benefit Expenses (3)		20,000	36,000	16,000	80.00%
Total		2,20,000	2,16,000	(4,000)	1.81%
Profit Before Tax		3,80,000	2,34,000	(46,000)	12.1%
Less: Tax (4)		1,14,000	70,200	(43,800)	38.42%
Profit After Tax		2,66,000	1,63,800	1,02,200	38.42%

Working Note:

Revenue from Operations for year ended 31st March 2016

200% of Other Income	=	₹ 1,50,000	x	200
				100
	=	₹3,00,000

Cost of Material Consumed for year ended 31st March 2015

200% of Other Income	=	₹ 2,00,000	x	200
				100
	=	₹4,00,000

Working Note 2:

Cost of Material Consumed for year ended 31st March 2016

60% of Revenue from Operations	=	₹ 3,00,000	x	60
				100
	=	₹1,80,000

Cost of Material Consumed for year ended 31st March 2015

50% of Revenue from Operations	=	₹ 4,00,000	x	50
				100
	=	₹2,00,000

Working Note 3:

Expenses for year ended 31st March 2016

20% of Other Income	=	₹ 1,80,000	x	20
				100
	=	₹36,000

Expenses for year ended 31st March 2015

10% of Other Income	=	₹ 2,00,000	x	10
				100
	=	₹20,000

Working Note 4:

Tax for year ended 31st March 2015

30% of Profit	=	₹ 3,80,000	x	30
				100
	=	₹1,14,000

Tax for year ended 31st March 2016

30% of Profit	=	₹ 2,34,000	x	30
				100
	=	₹70,200

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