Question

Prepare Comparative Income Statements from the following

$\begin{array}{ccc}Particulars& 31-3-2011& 31-3-2012\\ \text{Revenue from Operations}& \text{10,00,000}& \text{15,00,000}\\ \text{Expenses}& \text{6,00,000}& \text{10,50,000}\\ \text{Other Income}& \text{2,00,000}& \text{1,80,000}\\ \text{Income Tax}& 50\%& 50\%\end{array}$

Answer 1

Comparative Statements of Profit and Loss
for the year ended 31^st March, 2012
$\begin{array}{cccccc}& & & & \text{Absolute}& \text{Percentage}\\ & \text{Note}& 2010-2011& 2011-2012& \text{Change}& \text{Change}\\ \text{Particulars}& \text{No.}& & & (\text{Increase or}& (\text{Increase or}\\ & & & & \text{Decrease})& \text{Decrease})\\ & & \text{Rs.}& \text{Rs.}& \text{Rs.}& \%\\ \text{I. Revenue from Operations}& & 10,00,000& 15,00,000& 5,00,000& 50.00\\ \text{II. Other Income}& & \underset{–}{2,00,000}& \underset{–}{1,80,000}& \underset{–}{(20,000)}& \underset{–}{\left(10.00\right)}\\ \text{III. Total Revenue (I + II)}& & 12,00,000& 16,80,000& 4,80,000& 40.00\\ \text{IV. Expenses}& & 6,00,000& 10,50,000& 4,50,000& 75.00\\ \text{V. Profit before Tax (III - IV)}& & \overline{6,00,000}& \overline{6,30,000}& \overline{30,000}& \overline{5.00}\\ \text{VI. Less: Tax}& & 3,00,000& 3,15,000& 15,000& 5.00\\ \text{VII. Profit after Tax (V - VI)}& & \overline{3,00,000}& \overline{3,15,000}& \overline{15,000}& \overline{5.00}\end{array}$