Question

Prepare comparative statement of profit and loss from the following information :

$\begin{array}{ccc}\text{Particulars}& \text{31st March, 2016}& \text{31st March,2015}\\ \text{Revenue from operation}& \text{Rs}16,00,000& \text{Rs}10,00,000\\ \text{Cost of material consumed}& 70\%\text{of revenue from operations}& 70\%\text{of revenue from operations}\\ \text{Other expenses}& 5\%\text{of revenue from operations}& 5\%\text{of revenue from operations}\\ \text{Rate of tax}& 50\%& 50\%\end{array}$

Answer 1

Comparative Statement of Profit and Loss for the years ended 31st March, 2015 and 2016

$\begin{array}{ccccc}\text{Particulars}& \text{31st March,}& \text{31st March,}& \text{Absolute}& \text{Percentage}\\ & 2015& 2016& \text{change}& \text{change}\\ \left(i\right)\text{Revenue from operation}& 10,00,000& 16,00,000& 6,00,000& 60\\ \left(ii\right)\text{Expenses}:& & & & \\ \left(a\right)\text{Cost of material consumed}& 7,00,000& 11,20,000& 4,20,000& 60\\ \left(b\right)\text{Other expenses}& 50,000& 80,000& 30,000& 60\\ & \overline{\underset{–}{7,50,000}}& \overline{\underset{–}{12,00,000}}& \overline{\underset{–}{4,50,000}}& \overline{\underset{–}{60}}\\ \left(iii\right)\text{Net profit before tax}& 2,50,000& 4,00,000& 1,50,000& 60\\ \text{Less:Income tax}@50\%& 1,25,000& 2,00,000& 75,000& 60\\ \left(iv\right)\text{Net profit after tax}& \overline{1,25,000}& \overline{2,00,000}& \overline{75,000}& \overline{60}\end{array}$