Question

Prepare a Comparative Statement of Profit & Loss from the following :

$\begin{array}{ccc}\text{Particulars}& 31-03-2014& 31-03-2013\\ & \text{(Rs.)}& \text{(Rs.)}\\ \text{Revenue from Operations}& 50,00,000& 30,00,000\\ \text{Finance Costs}& 30,00,000& 27,00,000\\ \text{Employee Benefit Expenses}& 4,00,000& 3,00,000\\ \text{Other Expenses}& 40,000& 50,000\end{array}$

Income Tax is 40% of Net Profit

Answer 1

$\text{COMPARATIVE STATEMENT OF PROFIT \& LOSS}$
$\text{for the years ended 31st March, 2013 and 2014}$
$\begin{array}{cccccc}& & & & \text{Absolute}& \text{Percentage}\\ \text{Particulars}& \text{Note}& & & \text{Change}& \text{Change}\\ & \text{No.}& \text{2012 - 2013}& \text{2013 - 2014}& \text{(Increase)}& \text{(Increase)}\\ & & & & \text{or}& \text{or}\\ & & & & \text{Decrease)}& \text{Decrease)}\\ 1& & 2& 3& 4& 5\\ & & \text{A}& \text{B}& \text{(B-A}& \frac{\text{C}}{\text{A}}\times 100\\ & & & & \text{= C)}& \text{= D}\\ & & \text{Rs.}& \text{Rs.}& \text{Rs.}& \%\\ \text{I. Revenue from Operations}& & \underset{–}{30,00,000}& \underset{–}{50,00,000}& \underset{–}{20,00,000}& \underset{–}{66.67}\\ \text{II. Expenses}& & & & & \\ \text{Eployee Benefit Expenses}& & 3,00,000& 4,00,000& 1,00,000& 33.33\\ \text{Finance costs}& & 27,00,000& 30,00,000& 3,00,000& 11.11\\ \text{Other Expenses}& & 50,000& 40,000& (10,000)& \left(20.00\right)\\ \text{Total Expenses}& & \overline{\underset{–}{30,50,000}}& \overline{\underset{–}{34,40,000}}& \overline{\underset{–}{3,90,000}}& \overline{\underset{–}{12.79}}\\ \text{III. Profit/Loss before Tax (I - II)}& & (50,000)& 15,60,000& 16,10,000& 3,220.00\\ \text{IV. Less : Tax}& & \underset{–}{-}& \underset{–}{6,24,000}& \underset{–}{6,24,000}& \underset{–}{100.00}\\ \text{V. Profit/Loss after tax (III - IV)}& & (50,000)& 9,36,000& 9,86,000& 1,972.00\end{array}$