Following information is extracted from the Statement of Profit and Loss of Gold Coin Ltd. for the year ended 31st March, 2015:

Particulars

31st March,

2015

31st March, 2014

Revenue from Operations

₹ 60,00,000

₹ 45,00,000

Employee Benefit Expenses

₹ 30,00,000

₹ 22,50,000

Depreciation

₹ 7,50,000

₹ 6,00,000

Other Expenses

₹ 15,50,000

₹ 10,00,000

Tax Rate

30%

30%

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Solution

Comparative Income Statement

for the year ended March 31, 2014 and 2015

Particulars

2014

(Rs)

2015

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

45,00,000

60,00,000

15,00,000

33.33

II. Expenses

a. Depreciation

6,00,000

7,50,000

1,50,000

25.0

b. Employees Benefit Expenses

22,50,000

30,00,000

7,50,000

33.33

c. Other Expenses

10,00,000

15,50,000

5,50,000

55.0

38,50,000

53,00,000

14,50,000

37.66

Profit before Income Tax

6,50,000

7,00,000

50,000

7.69

Less: Income Tax

1,95,000

2,10,000

15,000

7.69

Profit after Income Tax

4,55,000

4,90,000

35,000

7.69

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Similar questions

From the following Balance Sheet as at 31st March, 2019 and Statement of Profit and Loss for the year ended 31st March, 2019 of RSB Ltd. and additional information, prepare Cash Flow Statement:

Particulars	Note No.	31st March, 2019 (₹)	31st March, 2018 (₹)
I. EQUITY AND LIABILITIES
1. Shareholders' Funds
(a) Share Capital		7,50,000	5,00,000
(b) Reserves and Surplus	1	9,50,000	3,00,000
2. Non-Current Liabilities
Long-term Borrowings (5% Debentures)		7,00,000	4,00,000
3. Current Liabilities
(a) Trade Payables		1,10,000	90,000
(b) Other Current Liabilities	2	39,000	25,000
(c) Short-term Provisions (Provision for Tax)		2,60,000	2,25,000
Total		28,09,000	15,40,000
II. ASSETS
1. Non-Current Assets
(a) Fixed Assets – Tangible	3	6,85,000	7,45,000
(b) Non-current Investments		7,50,000	2,50,000
2. Current Assets
(a) Current Investments		6,74,000	95,000
(b) Inventories		1,00,000	2,00,000
(c) Trade Receivables		4,00,000	1,50,000
(d) Cash and Cash Equivalents		2,00,000	1,00,000
Total		28,09,000	15,40,000

STATEMENT OF PROFIT AND LOSS
for the year ended 31st March, 2019
Particulars	Note No.	31st March, 2019 (₹)	31st March, 2018 (₹)
I. Revenue from Operations	4	40,00,000	35,00,000
II. Other Income	5	35,000	30,000
III. Total Revenue (I + II)		40,35,000	35,30,000
IV. Expenses:
Purchases of Stock-in-Trade		27,00,000	24,70,000
Change in Inventories of Stock-in-Trade	6	1,00,000	50,000
Finance Cost		27,500	20,000
Depreciation		40,000	45,000
Other Expenses		22,500	20,000
Total Expenses		28,90,000	26,05,000
V. Profit before Tax (III – IV)		11,45,000	9,25,000
VI. Less: Tax		3,45,000	2,25,000
VII. Profit after Tax (V – VI)		8,00,000	7,00,000

Notes to Accounts

Particular		31^st March 2019 (₹)	31^st March 2018 (₹)
1.	Reserves and Surplus
	Debenture Redemption Reserve	1,00,000	1,00,000
	Surplus, i.e., Balance in Statement of Profit and Loss	8,50,000	2,00,000
		9,50,000	3,00,000
2.	Other Current Liabilities
	Interest on Debentures	35,000	20,000
	Outstanding Expenses	4,000	5,000
		39,000	25,000
3.	Fixed Assets–Tangible
	Cost	8,90,000	9,90,000
	Less: Accumulated Depreciation	2,05,000	2,45,000
		6,85,000	7,45,000
4.	Revenue from Operations
	Sales	42,00,000	35,75,000
	Less: Sales Return	2,00,000	75,000
		40,00,000	35,00,000
5.	Other Income
	Interest on Deposits	15,000	12,500
	Dividend on Investments	10,000	17,500
	Gain (Profit) on Sale of Fixed Assets	10,000	…
		35,000	30,000
6.	Change in Inventories of Stock-in-Trade
	Opening Stock	2,00,000	2,50,000
	Less: Closing Stock	1,00,000	2,00,000
		1,00,000	50,000

Additional Information:

Q. From the following Statement of Profit and Loss of Star Ltd., for the year ended 31st March, 2015 and 2016, prepare a Common-size statement:


Particulars	Note No.	2015-16	2014-15
Revenue from Operations		₹ 25,00,000	₹ 20,00,000
Employee Benefit Expenses		₹ 10,00,000	₹ 7,00,000
Other Expenses		₹ 2,00,000	₹ 3,00,000
Tax Rate		40%	40%

Prepare a comparative statement of profit and loss for the year ended 31st March, 2015 from the following information :

$\begin{matrix} Particulars & 31st March, 2015 (Rs) & 31st March, 2014 (Rs) Revenue from Operations & 10, 00, 000 & 5, 00, 000 Purchase of stock-in-trade & 6, 50, 000 & 2, 00, 000 Change in Inventories of Stock & 60, 000 & 50, 000 Other Expenses & 10% of cost of revenue from & 20% of cost of revenue from operations & operations Tax Rate & 40 % & 30 % \end{matrix}$

Q. From the following Statement of Profit and Loss of Antriksh Ltd. for the year ended 31st March, 2012 and 2013, Prepare Comparative Statement of Profit and Loss:


Particulars	Note No.	31st March, 2013 (₹)	31st March, 2012, (₹)
Revenue from Operations		14,00,000	8,00,000
Other Incomes		6,00,000	4,00,000
Expenses		17,00,000	11,00,000

Rate of Income Tax was 40%.

Q. From the following Trial Balance, extracted from the books of Raga Ltd., prepare a Profit and Loss Account for the year ended 31st March, 2014 and a Balance Sheet as at that date:

Debit Balances	(₹)	Credit Balances	(₹)
Drawings Account	20,000	Sales	2,20,000
Land & Building	12,000	Capital	1,01,110
Plant and Machinery	40,000	Discount	1,260
Carriage Inward	100	Commission	5,230
Wages	500	Bills Payable	1,28,870
Salary	2,000	Purchase Return	10,000
Sales Return	200
Bank charges	200
Coal, gas and water	1,200
Purchases	1,50,000
Trade Expenses	3,800
Stock (Opening)	76,800
Cash at Bank	50,000
Rates and Taxes	870
Bills Receivable	24,500
Sundry Debtors	54,300
Cash in hand	30,00
	4,66,470		4,66,470

The additional informations are as under:
(i) Closing stock was valued at the end of the year at ₹ 20,000.
(ii) Depreciation on Plant and Machinery charged at 5% and on Land and Building at 10%.
(iii) Make a provision for discount on debtors at 3%.
(iv) Make a provision at 5% on debtors for Bad-debts.
(v) Salary outstanding was ₹ 100 and Wages prepaid were ₹ 40.
(vi) The manager is entitled to a Commission of 5% on Net Profit after charging such Commission.

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Particulars	31st March, 2015	31st March, 2014
Revenue from Operations	₹ 60,00,000	₹ 45,00,000
Employee Benefit Expenses	₹ 30,00,000	₹ 22,50,000
Depreciation	₹ 7,50,000	₹ 6,00,000
Other Expenses	₹ 15,50,000	₹ 10,00,000
Tax Rate	30%	30%

Comparative Income Statement for the year ended March 31, 2014 and 2015
Particulars	2014 (Rs)	2015 (Rs)	Absolute Change (Rs)	Percentage Change (%)
I. Revenue from Operations	45,00,000	60,00,000	15,00,000	33.33
II. Expenses
a. Depreciation	6,00,000	7,50,000	1,50,000	25.0
b. Employees Benefit Expenses	22,50,000	30,00,000	7,50,000	33.33
c. Other Expenses	10,00,000	15,50,000	5,50,000	55.0
	38,50,000	53,00,000	14,50,000	37.66
Profit before Income Tax	6,50,000	7,00,000	50,000	7.69
Less: Income Tax	1,95,000	2,10,000	15,000	7.69
Profit after Income Tax	4,55,000	4,90,000	35,000	7.69