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12th | Tools of Analysis of Financial Statement– Comparative Statement And Common Size Statement | Question No.  17 To 20 | Ts Grewal Solution 2022-2023

Question 17:


Prepare Comparative Statement of Profit and Loss from the following Statement of Profit and Loss:
 

Particulars ulars

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 ulars

Note No.

31st March, 2022

( `)

31st March, 2021

( `)

I. Income

 

 

 

Revenue from Operations (Net Sales)      Total Expenses

 

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


Profit before Income Tax (I-II)


7,50,000


12,00,000


4,50,000


60.00

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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