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Question

Prepare Comparative Income Statements from the following


                 Particulars     3132011     3132012                     Revenue from Operations          10,00,000           15,00,000Expenses           6,00,000           10,50,000      Other Income           2,00,000            1,80,000    Income Tax                 50%                 50%


Solution

                        Comparative Statements of Profit and Loss
                                for the year ended 31st March, 2012
AbsolutePercentageNote2010201120112012ChangeChange           ParticularsNo.(Increase or(Increase orDecrease)Decrease)Rs.      Rs.      Rs.      %      I. Revenue from Operations10,00,00015,00,0005,00,00050.00II. Other Income 2,00,000––––––––1,80,000––––––––(20,000)––––––––(10.00)––––––III. Total Revenue (I + II) 12,00,00016,80,0004,80,00040.00IV. Expenses6,00,00010,50,0004,50,00075.00V. Profit before Tax (III - IV)¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯6,00,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯6,30,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯30,000¯¯¯¯¯¯¯¯¯¯5.00VI. Less: Tax3,00,0003,15,00015,0005.00VII. Profit after Tax (V - VI)¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯3,00,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯3,15,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯15,000¯¯¯¯¯¯¯¯¯¯5.00

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