Question 17:
Prepare
Comparative Statement of Profit and Loss from the following Statement of Profit
and Loss:
|
Particulars |
Note No. |
31st March, 2022 ( `) |
31st March, 2021 ( `) |
|
I. Income |
|
|
|
|
Revenue
from Operations (Net Sales) |
|
3,50,000 |
3,00,000 |
|
II. Expenses |
|
|
|
|
Purchases
of Stock-in-Trade |
|
2,10,000 |
1,80,000 |
|
Change
in Inventories of Stock-in-Trade |
|
15,000 |
20,000 |
|
Employees
Benefits Expenses |
|
17,500 |
15,000 |
|
Other
Expenses |
|
7,500 |
5,000 |
|
Total |
|
2,50,000 |
2,20,000 |
|
III. Profit before Tax (I-II) |
|
1,00,000 |
80,000 |
|
IV. Less: Tax |
|
30,000 |
24,000 |
|
V. Profit after Tax (III-IV) |
|
70,000 |
56,000 |
|
|
|
|
|
Answer:
|
Comparative Income Statement for the year ended March 31, 2021 and 2022 |
||||
|
Particulars |
2022 |
2021 |
Absolute Change ( `) |
Percentage Change (%) |
|
I. Revenue from Operations |
3,00,000 |
3,50,000 |
50,000 |
16.67 |
|
II. Expenses |
|
|
|
|
|
a. Purchase of
Stock-in-Trade |
1,80,000 |
2,10,000 |
30,000 |
16.67 |
|
b. Changes in
Inventories of Stock-in-Trade |
20,000 |
15,000 |
(5,000) |
(25.00) |
|
c. Employees Benefit
cost |
15,000 |
17,500 |
2,500 |
16.67 |
|
d. Other Expenses |
5,000 |
7,500 |
2,500 |
50.00 |
|
|
2,20,000 |
2,50,000 |
30,000 |
13.67 |
|
Profit
before Income Tax (I-II) |
80,000 |
1,00,000 |
20,000 |
25.00 |
|
Less: Income Tax |
24,000 |
30,000 |
6,000 |
25.00 |
|
Profit after Income Tax |
56,000 |
70,000 |
14,000 |
25.00 |
|
|
|
|
|
|
Question 18:
From the following
Statement of Profit and Loss, prepare Comparative Statement of Profit and Loss:
|
Particulars |
Note No. |
31st March, 2022 ( `) |
31st March, 2021 ( `) |
|
I. Income |
|
|
|
|
Revenue
from Operations (Net Sales) |
|
50,00,000 |
40,00,000 |
|
II. Expenses |
|
|
|
|
Purchases
of Stock-in-Trade |
|
34,00,000 |
28,50,000 |
|
Change
in Inventories of Stock-in-Trade |
1 |
1,00,000 |
1,50,000 |
|
Employees
Benefits Expenses |
|
1,00,000 |
1,00,000 |
|
Other
Expenses |
2 |
2,00,000 |
1,50,000 |
|
Total |
|
38,00,000 |
32,50,000 |
|
III. Net Profit (I-II) |
|
12,00,000 |
7,50,000 |
Notes to Accounts
|
Particulars |
31st March, 2022 ( `) |
31st March, 2021 ( `) |
|
I. Change in Inventory of stock-in-Trade |
|
|
|
Opening
Inventory |
2,00,000 |
3,50,000 |
|
Less: Closing
Inventory |
1,00,000 |
2,00,000 |
|
|
1,00,000 |
1,50,000 |
|
2. Other Expenses |
|
|
|
Administrative
Expenses |
50,000 |
50,000 |
|
Selling
and Distribution Expenses |
1,50,000 |
1,00,000 |
|
|
2,00,000 |
1,50,000 |
|
|
|
|
Answer:
|
Comparative Income Statement for the year ended March 31, 2021 and 2022 |
||||
|
Particulars |
2021 ( `) |
2022 ( `) |
Absolute Change ( `) |
Percentage Change (%) |
|
I. Revenue from Operations |
40,00,000 |
50,00,000 |
10,00,000 |
25.00 |
|
II. Expenses: |
|
|
|
|
|
a. Purchases of
Stock-in-Trade |
28,50,000 |
34,00,000 |
5,50,000 |
19.30 |
|
b. Changes in
Inventories of Stock-in-Trade |
1,50,000 |
1,00,000 |
(50,000) |
(33.33) |
|
c. Employees
Benefit Expenses |
1,00,000 |
1,00,000 |
– |
– |
|
d. Other Expenses |
1,50,000 |
2,00,000 |
50,000 |
33.33 |
|
|
32,50,000 |
38,00,000 |
5,50,000 |
16.92 |
|
|
|
|
|
|
|
Less: Income Tax |
– |
– |
– |
– |
|
Profit after Income Tax |
7,50,000 |
12,00,000 |
4,50,000 |
60.00 |
|
|
|
|
|
|
Question 19:
From the following Statement of Profit and Loss of Star Ltd., for the years ended 31st March, 2015 and 2016, prepare a Common-size statement:
|
Particulars |
2015-16 |
2014-15 |
|
Revenue from Operations |
25,00,000 |
20,00,000 |
|
Employee Benefit Expenses |
10,00,00o |
7,00,000 |
|
Other Expenses |
2,00,000 |
3,00,000 |
|
Tax rate |
40% |
40% |
(Delhi 2017)
Answer:
|
Common-Size Statement of
Profit and Loss as at 31st March, 2016 |
|||||
|
Particulars |
Note No. |
Absolute Amounts |
Percentage of Revenue from Operation (Net Sales) |
||
|
|
31st March, 2015
(`) |
31st March, 2016 (`) |
% 31st March, 2015
(`) |
% 31st March, 2016 (`) |
|
|
Revenue from Operations |
|
20,00,000 |
25,00,000 |
100 |
100 |
|
Expenses |
|
|
|
|
|
|
Employee Benefit Expenses |
|
7,00,000 |
10,00,00o |
35 |
40 |
|
Other Expenses |
|
3,00,000 |
2,00,000 |
15 |
8 |
|
Total
Expenses |
|
10,00,000 |
12,00,000 |
50 |
48 |
|
Profit
before Tax |
|
10,00,000 |
13,00,000 |
50 |
52 |
|
Less: Tax 40% |
|
4,00,000 |
5,20,000 |
20 |
20.80 |
|
Profit
after Tax |
|
6,00,000 |
7,80,000 |
30 |
31.20 |
Question 20:
Prepare
Common-size Statement of Profit and Loss from the following Statement of Profit
and Loss:
|
Particulars |
Note No. |
31st March, 2022 (`) |
|
I.
Income |
|
|
|
Revenue from Operations |
|
15,00,000 |
|
Other Income |
|
60,000 |
|
Total
Revenue |
|
15,60,000 |
|
II.
Expenses |
|
|
|
Purchases of Stock-in-Trade |
|
7,50,000 |
|
Change in Inventories of Stock-in-Trade |
|
50,000 |
|
Other Expenses |
|
2,10,000 |
|
Total
|
|
10,10,000 |
|
III.
Profit before Tax (I-II) |
|
5,50,000 |
Answer:
|
Common-Size Statement of
Profit and Loss as at 31st March, 2022 |
|||
|
Particulars |
Note No. |
Absolute Amounts |
Percentage of Revenue from Operation (Net Sales) |
|
|
31st March, 2022 (`) |
% 31st March, 2022 (`) |
|
|
I.
Income |
|
|
|
|
Revenue from Operations |
|
15,00,000 |
100 |
|
Other Income |
|
60,000 |
4 |
|
Total
Revenue |
|
15,60,000 |
104 |
|
II.
Expenses |
|
|
|
|
Purchases of Stock-in-Trade |
|
7,50,000 |
50 |
|
Change in Inventories of Stock-in-Trade |
|
50,000 |
3.33 |
|
Other Expenses |
|
2,10,000 |
14 |
|
Total
Expenses |
|
10,10,000 |
67.33 |
|
III.
Profit before Tax (I-II) |
|
5,50,000 |
36.63 |
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
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12th TS Grewal’s Accountancy Solutions