wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

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

Particulars31st March, 2015 (Rs)31st March, 2014 (Rs)Revenue from Operations 10,00,000 5,00,000Purchase of stock-in-trade 6,50,000 2,00,000Change in Inventories of Stock 60,000 50,000Other Expenses10% of cost of revenue from20% of cost of revenue fromoperationsoperationsTax Rate 40% 30%

Open in App
Solution

Particulars31320143132015AbsolutePercentage(Rs) (Rs) Change Change C=B-A (C/A×100)I.Revenue from operations 5,00,000––––––––– 10,00,000––––––––––– 5,00,000––––––––– 100.00%–––––––––II.Expenses :(a) Purchase of stock in trade2,00,0006,50,0004,50,000225.00%(b) Change in inventories50,00060,00010,00020.00%(c) Other expenses50,00071,00021,00042.00% Total Expenses¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 3,00,000–––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 7,81,000–––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 4,81,000–––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 160.33%–––––––––III.Net profit before tax (I-II)2,00,0002,19,00019,0009.50%IV.Less : Tax60,00087,60027,60046.00%V.Net profit after tax (III-IV)¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,40,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,31,400¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ (8,600)¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ (6.14)%


flag
Suggest Corrections
thumbs-up
20
similar_icon
Similar questions
View More
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Comparative Financial Statement
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon