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Question

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

          Particulars    31st March, 2018          31st March,  2017    A. Revenue from Operations: SalesRs. 24,00,000Rs. 21,00,000B. Sales ReturnRs. 4,00,000Rs. 1,00,000C. Cost of Materials Consumed50 % of Revenue60 % of Revenuefrom Operations(Net)from Operations(Net)D. Other Expenses :%(Net Revenue from Operations10%20%  - Cost of Materials Consumed)E. Income Tax40%40%


Solution

                                   COMPARATIVE STATEMENT OF PROFIT & LOSS             
                                           for the years ended 31st March, 2017 and 2018              
AbsolutePercentage                ParticularsNote 31st31stChangeChangeNo.March,March,(Increase)(Increase)20172018ororDecrease)Decrease)Rs.Rs.Rs.%I. Revenue from Operations       (Sales - Sales Return)20,00,000–––––––––20,00,000–––––––––II. Less : Expenses       Cost of Materials Consumed12,00,00010,00,000(2,00,000)(16.67)       Other Expenses1,60,0001,00,000(60,000)(37.50)       Total Expenses¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯13,60,000–––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯11,00,000–––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯(2,60,000)––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯(19.12)––––––III. Profit before Tax (I - II)6,40,0009,00,0002,60,00040.63IV. Less : Tax 40%2,56,0003,60,0001,04,00040.63V. Profit after Tax (III - IV)¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯3,84,000––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯5,40,000––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯(1,56,000)––––––––––¯¯¯¯¯¯¯¯¯¯¯¯40.63––––

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