Question

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

$\begin{array}{ccc}\text{Particulars}& \text{31st March, 2015 (Rs)}& \text{31st March, 2014 (Rs)}\\ \text{Revenue from Operations}& 10,00,000& 5,00,000\\ \text{Purchase of stock-in-trade}& 6,50,000& 2,00,000\\ \text{Change in Inventories of Stock}& 60,000& 50,000\\ \text{Other Expenses}& \text{10\% of cost of revenue from}& \text{20\% of cost of revenue from}\\ & \text{operations}& \text{operations}\\ \text{Tax Rate}& 40\%& 30\%\end{array}$

Answer 1

$\begin{array}{cccccc}& \text{Particulars}& 31-3-2014& 31-3-2015& \text{Absolute}& \text{Percentage}\\ & & \text{(Rs)}& \text{(Rs)}& \text{Change}& \text{Change}\\ & & & & \text{C=B-A}& \text{(C/A}\times 100)\\ \text{I.}& \text{Revenue from operations}& \underset{–}{5,00,000}& \underset{–}{10,00,000}& \underset{–}{5,00,000}& \underset{–}{100.00\%}\\ \text{II.}& \text{Expenses :}& & & & \\ & \text{(a) Purchase of stock in trade}& 2,00,000& 6,50,000& 4,50,000& 225.00\%\\ & \text{(b) Change in inventories}& 50,000& 60,000& 10,000& 20.00\%\\ & \text{(c) Other expenses}& 50,000& 71,000& 21,000& 42.00\%\\ & \text{Total Expenses}& \underset{–}{\overline{3,00,000}}& \underset{–}{\overline{7,81,000}}& \underset{–}{\overline{4,81,000}}& \underset{–}{\overline{160.33\%}}\\ \text{III.}& \text{Net profit before tax (I-II)}& 2,00,000& 2,19,000& 19,000& 9.50\%\\ \text{IV.}& \text{Less : Tax}& 60,000& 87,600& 27,600& 46.00\%\\ \text{V.}& \text{Net profit after tax (III-IV)}& \overline{1,40,000}& \overline{1,31,400}& \overline{(8,600)}& \overline{\left(6.14\right)\%}\end{array}$