Page No 3.36:
Question 17:
From the following information, prepare Comparative Statement of Profit and Loss
|
Particulars |
31st March, 2021 (`) |
31st March, 2020 (`) |
|
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, 2021 |
|||||
|
Particulars
|
Note
No. |
31st March, 2020 (`) |
31st March, 2021 (`) |
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 |
2020 |
2021 |
|
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 |
Page No 3.35:
Question 18:
From the following
Statement of Profit and Loss, prepare Comparative Statement of Profit and Loss:
|
Particulars |
Note No. |
31st March, 2019 ( `) |
31st March, 2018 ( `) |
|
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, 2019 ( `) |
31st March, 2018 ( `) |
|
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, 2018 and 2019 |
||||
|
Particulars |
2018 ( `) |
2019 ( `) |
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 |
|
|
|
|
|
|
Page No 3.36:
Question 19:
From the following Statement of Profit and Loss of Star Ltd., for the years ended 31st March, 401N 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 |
Page No 3.36:
Question 20:
Prepare
Common-size Statement of Profit and Loss from the following Statement of Profit
and Loss:
|
Particulars |
Note No. |
31st March, 2021 (`) |
|
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, 2021 |
|||
|
Particulars |
Note No. |
Absolute Amounts |
Percentage of Revenue from Operation (Net Sales) |
|
|
31st March, 2021 (`) |
% 31st March, 2021 (`) |
|
|
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 on Below link for more questions Of Volume-3 of 12th
Chapter-1: Tools of Financial statement analysis- Comparative statement and Common-Size statement | 2021-2022
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