Question

Assam Tea Ltd. decided to donate 5 $\%$ of its net profit every year to a Non-Government Organisation (N.G.O), that is engaged in providing clean drinking water in the rural areas of Assam. Following particulars are related to the Statement of Profit & Loss of the Company for two consecutive years :

$\begin{array}{ccc}\text{Particulars}& \mathrm{31.03.2017}& \mathrm{31.03.2016}\\ & \text{Rs.}& \text{Rs.}\\ \text{Revenue from Operations}& 75,00,000& 60,00,000\\ \text{Other Incomes}& 1,20,000& 1,50,000\\ \text{Expenses}& 50,60,000& 44,00,000\\ \text{Income Tax}& 40\%& 35\%\end{array}$

You are required to Prepare the Comparative Statement of Profit & Loss

Answer 1

Assam Tea Ltd.

COMPARATIVE STATEMENT OF PROFIT & LOSS

for the years ended 31st March, 2016 and 2017

$\begin{array}{cccccc}\text{Particulars}& \text{Note No.}& 2015-16& 2016-17& \text{Absolute}& \text{Percentage}\\ & & & & \text{Change}& \text{Change}\\ & & & & (\text{Increase or}& (\text{Increase or}\\ & & & & \text{Decrease})& \text{Decrease})\\ & & \text{A}& \text{B}& \text{(B - A = C)}& \text{C/A}\times 100=\text{D}\\ & & \text{Rs.}& \text{Rs.}& \text{Rs.}& \%\\ \text{I. Revenue from Operation}& & 60,00,000& 75,00,000& 15,00,000& 25.00\\ \text{II. Add : Other Incomes}& & 1,50,000& 1,20,000& (30,000{)}^{\ast }& \left(20.00\right)\\ \text{III. Total Revenue (I + II)}& & \overline{61,50,000}& \overline{76,20,000}& \overline{14,70,000}& \overline{23.90}\\ \text{IV. Less : Expenses}& & 44,00,000& 50,60,000& 6,60,000& 15.00\\ \text{V. Profit before Tax (III - IV)}& & \overline{17,50,000}& \overline{25,60,000}& \overline{8,10,000}& \overline{46.29}\\ \text{VI. Less : Tax}& & 6,12,500& 10,24,000& 4,11,500& 67.18\\ \text{VII. Profit after tax (V - VI)}& & \overline{11,37,500}& \overline{15,36,000}& \overline{3,98,500}& \overline{35.03}\end{array}$