Question

Prepare a Comparative Income Statement from the following information :

$\begin{array}{ccc}\text{Particulars}& 31\text{st March},2017& 31\text{st March},2018\\ \text{Revenue from Operations}& 10,00,000& 12,50,000\\ \text{Cost of Materials Consumed}& 5,00,000& 6,50,000\\ \text{Other Expenses}& 50,000& 60,000\\ \text{Interest on investments @ Rs 30,000 and tax payable @}& & \\ 50\%& & \end{array}$

Answer 1

COMPARATIVE STATEMENT OF PROFIT AND LOSS

for the year ending 31st March, 2017 and 31st March, 2018

$\begin{array}{ccccc}& 31-03-2017& 31-03-2018& \text{Absolute}& \text{Percentage}\\ \text{Particulars}& \left(\text{Rs}\right)& \left(\text{Rs}\right)& \text{Change}& \text{Change}\\ & \text{A}& \text{B}& \text{C=B-A}& \text{D =}\frac{\text{C}}{\text{A}}\times 100\\ \text{I. Revenue from Operations}& 10,00,000& 12,50,000& 2,50,000& 25.00\\ \text{II. Other Income}& 30,000& 30,000& -& -\\ \text{III. Total Income}(I+II)& 10,30,000& 12,80,000& 2,50,000& 24.27\\ \text{IV. Expenses:}& & & & \\ \left(a\right)\text{Cost of Materials Consumed}& 5,00,000& 6,50,000& 1,50,000& 30.00\\ \left(b\right)\text{Other Expenses}& 50,000& 60,000& 10,000& 20.00\\ \left(c\right)\text{Total Expenses}& 5,50,000& 7,10,000& 1,60,000& 29.09\\ \text{V. Profit before Tax}(III-IV)& 4,80,000& 5,70,000& 90,000& 18.75\\ \text{VI.(-) Tax}& 2,40,000& 2,85,000& 45,000& 18.75\\ \text{VII. Profit after Tax}(V-VI)& 2,40,000& 2,85,000& 45,000& 18.75\end{array}$