Question

With the help of the following information obtained from the books of Raj Silk Mills, prepare Comparative Statement of Profit and Loss for the year ended 31st March, 2016 :

$\begin{array}{ccc}\text{Particulars}& 31\text{st March},2016& 31\text{st March},2015\\ \text{Revenue from Operations}& 300\%\text{of Cost of}& 200\%\text{of Cost of}\\ & \text{Materials Consumed}& \text{Materials Consumed}\\ & & \\ \text{Expenses :}& & \\ \text{Cost of Materials Consumed}& \text{Rs.}12,00,000& \text{Rs.}10,00,000\\ \text{Other Expenses}& 20\%\text{of Cost of}& 10\%\text{of Cost of}\\ & \text{Materials Consumed}& \text{Materials Consumed}\\ \text{Tax}& 50\%& 50\%\end{array}$

Answer 1

COMPARATIVE STATEMENT OF PROFIT AND LOSS

for the years ended 31st March, 2015 and 2016

$\begin{array}{cccccc}& & & & \text{Absolute}& \text{Percentage}\\ & \text{Note}& 31\text{st}& 31\text{st}& \text{Change}& \text{Change}\\ \text{Particulars}& \text{No.}& \text{March,}& \text{March,}& (\text{Increase or}& (\text{Increase or}\\ & & 2015& 2016& \text{Decrease})& \text{Decrease})\\ & & \text{Rs.}& \text{Rs.}& \text{Rs.}& \%\\ \text{I. Revenue from Operation}& & \underset{–}{20,00,000}& \underset{–}{36,00,000}& \underset{–}{16,00,000}& \underset{–}{80.00}\\ \text{II. Less : Expenses :}& & & & & \\ \text{(a)Cost of Materials Consumed}& & 10,00,000& 12,00,000& 2,00,000& 20.00\\ \text{(b)Other Expenses}& & \underset{–}{1,00,000}& \underset{–}{2,40,000}& \underset{–}{1,40,000}& 140.00\\ \text{Total Expenses}& & \underset{–}{11,00,000}& \underset{–}{14,40,000}& \underset{–}{3,40,000}& \overline{\underset{–}{30.91}}\\ \text{III Profit before Tax (I-II)}& & 9,00,000& 21,60,000& 12,60,000& 140.00\\ \text{IV Less : Tax}& & \underset{–}{4,50,000}& \underset{–}{10,80,000}& \underset{–}{6,30,000}& \underset{–}{140.00}\\ \text{V. Profit after tax (III - IV)}& & 4,50,000& 10,80,000& 6,30,000& 140.00\end{array}$