Question

From the information given below, prepare Comparative Statement of Profit and Loss :

$\begin{array}{ccc}\text{Particulars}& 31\text{st March},2018& 31\text{st March},2017\\ \text{A. Revenue from Operations: Sales}& \text{Rs.}24,00,000& \text{Rs.}21,00,000\\ \text{B. Sales Return}& \text{Rs.}4,00,000& \text{Rs.}1,00,000\\ \text{C. Cost of Materials Consumed}& 50\%\text{of Revenue}& 60\%\text{of Revenue}\\ & \text{from Operations(Net)}& \text{from Operations(Net)}\\ \text{D. Other Expenses :}& & \\ \%(\text{Net Revenue from Operations}& 10\%& 20\%\\ \text{- Cost of Materials Consumed})& & \\ \text{E. Income Tax}& 40\%& 40\%\end{array}$

Answer 1

$\text{COMPARATIVE STATEMENT OF PROFIT \& LOSS}$
$\text{for the years ended 31st March, 2017 and 2018}$
$\begin{array}{cccccc}& & & & \text{Absolute}& \text{Percentage}\\ \text{Particulars}& \text{Note}& \text{31st}& \text{31st}& \text{Change}& \text{Change}\\ & \text{No.}& \text{March,}& \text{March,}& \text{(Increase)}& \text{(Increase)}\\ & & 2017& 2018& \text{or}& \text{or}\\ & & & & \text{Decrease)}& \text{Decrease)}\\ & & \text{Rs.}& \text{Rs.}& \text{Rs.}& \%\\ \text{I. Revenue from Operations}& & & & & \\ \text{(Sales - Sales Return)}& & \underset{–}{20,00,000}& \underset{–}{20,00,000}& -& -\\ \text{II. Less : Expenses}& & & & & \\ \text{Cost of Materials Consumed}& & 12,00,000& 10,00,000& (2,00,000)& \left(16.67\right)\\ \text{Other Expenses}& & 1,60,000& 1,00,000& (60,000)& \left(37.50\right)\\ \text{Total Expenses}& & \overline{\underset{–}{13,60,000}}& \overline{\underset{–}{11,00,000}}& \overline{\underset{–}{(2,60,000)}}& \overline{\underset{–}{\left(19.12\right)}}\\ \text{III. Profit before Tax (I - II)}& & 6,40,000& 9,00,000& 2,60,000& 40.63\\ \text{IV. Less : Tax 40\%}& & 2,56,000& 3,60,000& 1,04,000& 40.63\\ \text{V. Profit after Tax (III - IV)}& & \overline{\underset{–}{3,84,000}}& \overline{\underset{–}{5,40,000}}& \overline{\underset{–}{(1,56,000)}}& \overline{\underset{–}{40.63}}\end{array}$