Question

From the following information prepare a Comparative Statement of Profit & Loss of Victor Ltd. :

$\begin{array}{ccc}& \mathrm{31.03.2017}& \mathrm{31.03.2016}\\ & \text{Rs.}& \text{Rs.}\\ \text{Revenue from Operations}& 18,00,000& 15,00,000\\ \text{Cost of Materials Consumed}& 14,00,000& 11,00,000\\ \text{Other Expenses}& 12\%\text{of Materials}& 10\%\text{of Materials}\\ & \text{Consumed}& \text{Consumed}\\ \text{Income Tax}& 50\%& 40\%\end{array}$

Answer 1

Victor Ltd.
COMPARATIVE STATEMENT OF PROFIT & LOSS
for the years ended 31st March, 2016 and 2017 $\begin{array}{cccccc}& & & & \text{Absolute}& \text{Percentage}\\ & \text{Note}& & & \text{Change}& \text{Change}\\ \text{Particulars}& \text{No.}& 2015-16& 2016-17& (\text{Increase or}& (\text{Increase or}\\ & & & & \text{Decrease})& \text{Decrease})\\ & & \text{A}& \text{B}& \text{(B - A = C)}& \text{C/A}\times 100=\text{D}\\ \text{I. Revenue from Operations}& & \underset{–}{15,00,000}& \underset{–}{18,00,000}& \underset{–}{3,00,000}& \underset{–}{20.00}\\ \text{II. Less: Expenses}& & & & & \\ \text{Cost of Materials Consumed}& & 11,00,000& 14,00,000& 3,00,000& 27.27\\ \text{Other Expenses}& & 1,10,000& 1,68,000& 58,000& 52.73\\ \text{Total Expenses}& & \overline{\underset{–}{12,10,000}}& \overline{\underset{–}{15,68,000}}& \overline{\underset{–}{3,58,000}}& \overline{\underset{–}{29.59}}\\ \text{III. Profit before Tax (I -II)}& & 2,90,000& 2,32,000& (58,000)& \left(20.00\right)\\ \text{IV. Less : Tax}& & 1,16,000& 1,16,000& -& -\\ \text{V. Profit after tax (III - IV)}& & \overline{1,74,000}& \overline{1,16,000}& \overline{(58,000)}& \overline{\left(33.33\right)}\end{array}$