Question 13:
Prepare
Comparative Statement of Profit and Loss from the following information:
|
Particulars |
31st March, 2022 |
31st March, 2021 |
|
Revenue
from Operations |
` 37,50,000 |
` 25,00,000 |
|
Other
Income |
` 4,50,000 |
` 5,00,000 |
|
Cost
of Materials Consumed |
` 22,50,000 |
` 12,50,000 |
|
Other
Expenses |
` 3,75,000 |
` 2,50,000 |
|
Tax
Rate |
50% |
50% |
Answer:
|
Comparative Income Statement for the year ended March 31, 2021 and 2022 |
||||
|
Particulars |
March 31, 2021 ( `) |
March 31, 2022 ( `) |
Absolute Change ( `) |
Percentage Change (%) |
|
I. Revenue from operations |
25,00,000 |
37,50,000 |
12,50,000 |
50.00 |
|
II. Other Income |
5,00,000 |
4,50,000 |
(50,000) |
(10.00) |
|
III.
Total Revenue (I + II) |
30,00,000 |
42,00,000 |
12,00,000 |
40.00 |
|
IV. Expenses |
|
|
|
|
|
a. Cost of
Materials Consumed |
12,50,000 |
22,50,000 |
10,00,000 |
80.00 |
|
b. Other Expenses |
2,50,000 |
3,75,000 |
1,25,000 |
50.00 |
|
|
15,00,000 |
26,25,000 |
11,25,000 |
75.00 |
|
|
|
|
|
|
|
Profit before Income Tax |
15,00,000 |
15,75,000 |
75,000 |
5.00 |
|
Less: Income Tax @ 50% |
7,50,000 |
7,87,500 |
37,500 |
5.00 |
|
Profit after Income Tax |
7,50,000 |
7,87,500 |
37,500 |
5.00 |
|
|
|
|
|
|
Question 14:
Prepare a Comparative Statement of Profit and Loss from the information extracted from the Statement of Profit and Loss for the year ended 31st March, 2017 and 2018.
|
Particulars |
2017-18 (`) |
2016-17
(`) |
|
Revenue from Operations |
15,00,000 |
10,00,000 |
|
Other Income (% of Revenue from Operations) |
60% |
50% |
|
Employee Benefit Expenses (% of total revenue) |
40% |
30% |
|
Tax Rate |
40% |
40% |
(Delhi 2019)
Answer:
|
Comparative Statement of
Profit and Loss as at 31st March, 2018 |
|||||
|
Particulars
|
Note
No. |
31st March, 2017 (`) |
31st March, 2018 (`) |
Absolute Change (Increase/Decrease)(`) |
Percentage Change (Increase/Decrease)(%) |
|
|
(A) |
(B) |
(C = A-B) |
(D = C/A×100) |
|
|
Revenue from Operations |
|
10,00,000 |
15,00,000 |
5,00,000 |
50.00 |
|
Other Income (% of Revenue from Operations) |
|
5,00,000 |
9,00,000 |
4,00,000 |
80.00 |
|
Total
Revenue |
|
15,00,000 |
24,00,000 |
9,00,000 |
60.00 |
|
Employee Benefit Expenses (% of total revenue) |
|
4,50,000 |
9,60,000 |
5,10,000 |
113.33 |
|
Profit
before Tax |
|
10,50,000 |
14,40,000 |
3,90,000 |
37.14 |
|
Less: Tax 40% |
|
4,20,000 |
5,76,000 |
1,56,000 |
37.14 |
|
Profit
after Tax |
|
6,30,000 |
8,64,000 |
2,34,000 |
37.14 |
Question 15:
From the following particulars obtained from the books of Mark, prepare a Comparative Statement of Profit and Loss:
|
Particulars |
31st March, 2018 (`) |
31st March, 2017 (`) |
|
Revenue from Operations |
50,00,000 |
40,00,000 |
|
Purchase of Stock-in-Trade |
40,00,000 |
30,00,000 |
|
Changes in Inventory |
10,00,000 |
8,00,000 |
|
Other Expenses |
5,00,000 |
4,00,000 |
|
Other Incomes |
2,50,000 |
2,00,000 |
Answer:
|
Comparative Statement of
Profit and Loss as at 31st March, 2018 |
|||||
|
Particulars
|
Note
No. |
31st March, 2017 (`) |
31st March, 2018 (`) |
Absolute Change (Increase/Decrease)(`) |
Percentage Change (Increase/Decrease)(%) |
|
|
(A) |
(B) |
(C = A-B) |
(D = C/A×100) |
|
|
Revenue from Operations |
|
40,00,000 |
50,00,000 |
10,00,000 |
25 |
|
Other Incomes |
|
2,00,000 |
2,50,000 |
50,000 |
25 |
|
Total
Revenue |
|
42,00,000 |
52,50,000 |
10,50,000 |
25 |
|
Expenses |
|
|
|
|
|
|
Purchase of Stock-in-Trade |
|
30,00,000 |
40,00,000 |
10,00,000 |
33.3 |
|
Changes in Inventory |
|
8,00,000 |
10,00,000 |
2,00,000 |
25 |
|
Other Expenses |
|
4,00,000 |
5,00,000 |
13,00,000 |
25 |
|
Total
Expenses |
|
42,00,000 |
55,00,000 |
13,00,000 |
30.95 |
|
Profit
before Tax |
|
. . . |
(2,50,000) |
(2,50,000) |
… |
|
Less: Tax … % |
|
. . . |
. . . |
. . . |
… |
|
Profit
after Tax |
|
42,00,000 |
55,00,000 |
13,00,000 |
30.95 |
Question 16:
From the following information, prepare Comparative Statement of Profit and Loss
|
Particulars |
31st March, 2022 (`) |
31st March, 2021 (`) |
|
Revenue from Operations |
20,00,000 |
16,00,000 |
|
Other Income |
4,40,000 |
3,00,000 |
|
Cost of Materials Consumed |
8,00,000 |
6,00,000 |
|
Changes in Inventories of Finished Goods and Work-in-Progress |
4,00,000 |
2,00,000 |
|
Other Expenses (% of Cost of Revenue from Operations) |
15% |
10% |
|
Tax Rate |
30% |
30% |
Answer:
|
Comparative Statement of
Profit and Loss as at 31st March, 2022 |
|||||
|
Particulars
|
Note
No. |
31st March, 2021 (`) |
31st March, 2022 (`) |
Absolute Change (Increase/Decrease)(`) |
Percentage Change (Increase/Decrease)(%) |
|
|
(A) |
(B) |
(C = A-B) |
(D = C/A×100) |
|
|
Revenue from Operations |
|
16,00,000 |
20,00,000 |
4,00,000 |
25 |
|
Other Incomes |
|
3,00,000 |
4,40,000 |
1,40,000 |
46.67 |
|
Total
Revenue |
|
19,00,000 |
24,40,000 |
5,40,000 |
|
|
Expenses |
|
|
|
|
|
|
Cost of Materials Consumed |
|
6,00,000 |
8,00,000 |
2,00,000 |
33.33 |
|
Changes in Inventories of Finished Goods and Work-in-Progress |
|
2,00,000 |
4,00,000 |
2,00,000 |
100 |
|
Other Expenses (% of Cost of Revenue from Operations) |
|
80,000 |
1,80,000 |
1,00,000 |
125 |
|
Total
Expenses |
|
8,80,000 |
13,80,000 |
5,00,000 |
56.82 |
|
Profit
before Tax |
|
10,20,000 |
10,60,000 |
40,000 |
3.92 |
|
Less: Tax 30% |
|
3,06,000 |
3,18,000 |
12,000 |
3.92 |
|
Profit
after Tax |
|
7,14,000 |
7,42,000 |
28,000 |
3.92 |
Working
Note:
Calculation
of cost of material Consumed and Other Expenses
|
Items |
2021 |
2022 |
|
Cost of Materials Consumed |
6,00,000 |
8,00,000 |
|
Changes in Inventories of Finished Goods and Work-in-Progress |
2,00,000 |
4,00,000 |
|
Cost
of Revenue from Operations |
8,00,000 |
12,00,000 |
|
Other Expenses (2020: 10% and 2021:15% of Cost of Revenue from Operations) |
80,000 |
1,80,000 |
Click below for more Questions
Ts Grewal Solution 2022-2023
Class 12 / Volume – 3
Chapter 3 – Tools of Analysis of Financial Statements- Comparative And Common Size Statement
Question No. 1 To 4
Question No. 5 To 8
Question No. 9 To 12
Question No. 13 To 16
Question No. 17 To 20
Question No. 21 To 25
Click on below links for
12th TS Grewal’s Accountancy Solutions