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Question
From the following Statement of profit and loss of Fenox Ltd, for the year ended 31st March 2013; prepare a comparative statement of Profit and Loss:
| Particulars |
2012-13 Rs |
2011-12 Rs |
| Revenue from operation | 8,00,000 | 6,00,000 |
| Other Income | 1,00,000 | 50,000 |
| Expenses | 5,00,000 | 4,00,000 |
A rate of Income-tax was 40%.
Solution
| Comparative Income Statement For the years ended 31st March 2012 & 2013 |
||||
| Particulars |
2012-13 Rs |
2011-12 Rs |
Absolute Change Rs |
Percentage Change % |
| i. Revenue from operations | 8,00,000 | 6,00,000 | 2,00,000 | 33.33 |
| ii. Other Income | 1,00,000 | 50,000 | 50,000 | 100 |
| iii. Total Revenue (I+II) | 9,00,000 | 6,50,000 | 2,50,000 | 38.46 |
| iv. Expense | 5,00,000 | 4,00,000 | 1,00,000 | 25 |
| Profit before Income Tax(III-IV) | 4,00,000 | 2,50,000 | 1,50,000 | 60 |
| Less: Income Tax | 1,60,000 | 1,00,000 | 60,000 | 60 |
| Profit after Income Tax | 2,40,000 | 1,50,000 | 90,000 | 60 |
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RELATED QUESTIONS
Following is the statement of Profit and Loss of DD Ltd. For the year ended 31-3-2015.
| Particulars | Note No. | 31-3-2015 (Rs.) | 31-3-2014 (Rs.) |
|
Revenue from operations Other Income Employee benefit – expenses 60% of total revenue Other expenses 10% of employee benefit expenses Tax Rate |
75,00,000 1,50,000
40% |
34,00,000 3,00,000
50% |
The motto of DD Ltd. is to produce and supply green energy in the rural areas of India. It has also taken up a project of constructing a road that will pass through five villages so that these villages could be connected to the nearby town. It will use the local resources and employ local people for construction of the road.
You are required to prepare a comparative statement of Profit and Loss of DD Ltd. from the given statement of Profit and Loss. Also identify any two values that the company wishes to convey to the society.
Following is the statement of Profit and Loss of Sun India Ltd. For the year ended 31st March. 2015:
| Particulars | Note No. | 31-3-2015 (Rs.) | 31-3-2014 (Rs.) |
|
Revenue from operations Other Income Employee benefit – expenses Other expenses Tax Rate |
25,00,000 1,00,000 60% of total revenue 10% of employee benefit expenses 50% |
20,00,000 5,00,000 50% of total revenue 20% of employee benefit expenses 40% |
The motto of Sun India Ltd is to produce and supply green energy in the rural areas of India. It has also taken up a project of constructing a road that will pass through five villages, so that these villages could be connected to the nearby town. It will use the local resources and employ local people for construction of the road.
You are required to prepare a Comparative Statement of Profit and Loss of Sun India Ltd from the given statement of Profit and Loss. Also identify any two values that the company wishes to convey to the society.
Following is the Statement of Profit and Loss of Moon India Ltd for the year ended 31st March 2015.
| Particulars | Note No. | 31-3-2015 (Rs.) | 31-3-2014 (Rs.) |
|
Revenue from operations Other Income Employee benefit – expenses Other expenses Tax Rate |
50,00,000 2,00,000 60% of the total revenue 10% of employee benefit expenses 50% |
40,00,000 10,00,000 50% of the total revenue 20% of employee benefit expenses 40% |
The motto of Moon India Ltd. is to produce and distribute green energy in the backward areas of India. It has also taken up a project of giving vocational training to the girls belonging to the backward areas of Rajasthan.
You are required to prepare a comparative statement of Profit and Loss of Moon India Ltd. from the given statement of Profit and Loss and also identify any two values that the company wishes to convey to the society.
The motto of 'Nav Hind Pharma Limited', a company engaged in the manufacturing and distribution of Ayurvedic medicines is 'Healthy India'. Its management and employees are hardworking, honest and motivated. The net profit of the company doubled during the year ended 31.3.2014. Encouraged by its performance, the company decided to pay one month's extra salary to all its employees. Following is the Comparative Statement of Profit and Loss of the company for the years ended 31.3.2013 and 31.3.2014:
| Nav Hind Pharma Ltd Comparative Statement of Profit and Loss |
|||||
| Particulars | Note No |
2012-13 Rs |
2013-14 Rs |
Absolute Rs |
% Change |
| Revenue from operations | 40,00,000 | 60,00,000 | 20,00,000 | 5.0 | |
| Less : Employee benefit expenses | 24,00,000 | 28,00,000 | 4,00,000 | 16.67 | |
| Profit before tax | 16,00,000 | 32,00,000 | 16,00,000 | 100 | |
| Tax Rate 50% | 8,00,000 | 16,00,000 | 8,00,000 | 100 | |
| Profit after tax | 8,00,000 | 16,00,000 | 8,00,000 | 100 | |
1) Calculate New Profit Ratio for the years ending 31.3.2013 and 31.3.2014
2) Identify any two value which 'Nav Hind Pharma Limited' is trying to communicate
From the following Statement of profit and loss of the year ended 31st March 2013, prepare a comparative ‘Statement of Profit and Loss’ of Vidya Ltd
| Particulars | 2012-13 Rs | 2011-12 Rs |
|
Revenue from operation Other expenses Expenses |
14,00,000 4,00,000 11,00,000 |
11,00,000 3,00,000 12,00,000 |
A rate of Income-tax was 50%.
From the following Statement of profit and loss of Corex Ltd, year ended 31st March 2013, prepare a comparative statement of Profit and Loss :
| Particular | Note No. |
2012-13 Rs |
2011-12 Rs |
| Revenue from operation | 14,00,000 | 11,00,000 | |
| Other expenses | 2,00,000 | 1,40,000 | |
| Expenses | 8,00,000 | 9,00,000 |
Rate of Income tax was 40%.
From the following Statement of profit and loss of Ajanta Ltd, year ended 31st March 2013, prepare a comparative statement of Profit and Loss :
| Particular |
2012-13 Rs |
2011-12 Rs |
| Revenue from operation | 20,00,000 | 18,00,000 |
| Other expenses | 4,00,000 | 6,00,000 |
| Expenses | 19,00,000 | 17,00,000 |
Rate of Income tax was 50%.
From the Following Statements of Profit and Loss Suntrack Ltd., for the years ended 31st March 2011 and 2012, prepare a 'Comparative Statement of Profit and Loss'.
| Particulars | Note No. |
2011-12 | 2010-11 |
| Revenue from Operations | 20,00,00 | 12,00,000 | |
| Other Incomes | 12,00,000 | 9,00,000 | |
| Expenses | 13,00,000 | 10,00,000 |
Explain the following :
Comparative income statement
Following is the Balance Sheet of Radha Ltd. as at 31st March, 2019:
|
Particulars |
Note No. |
31st March, 2019, (₹) |
31st March, 2018, (₹) |
|
I. EQUITY AND LIABILITIES 1. Shareholders' Funds |
|||
|
(a) Share Capital |
15,00,000 |
10,00,000 |
|
|
(b) Reserves and Surplus |
10,00,000 | 10,00,000 | |
|
2. Non-Current Liabilities |
|||
|
Long-term Borrowings |
|
8,00,000 |
2,00,000 |
|
3. Current Liabilities |
|||
|
(a) Trade Payables |
|
5,00,000 |
3,00,000 |
|
Total |
38,00,000 |
25,00,000 |
|
|
II. ASSETS |
|||
|
1. Non-Current Assets |
|||
|
Fixed Assets: |
|||
|
(i) Tangible Assets |
|
25,00,000 |
15,00,000 |
|
(ii) Intangible Assets |
5,00,000 | 5,00,000 | |
|
2. Current Assets |
|||
|
(a) Trade Receivables |
|
6,00,000 |
3,50,000 |
|
(b) Cash and Cash Equivalents |
2,00,000 |
1,50,000 |
|
|
Total |
38,00,000 |
25,00,000 |
You are required to prepare Comparative Balance Sheet on the basis of the information given in the above Balance Sheet.
Balance Sheet of Blue Bell Ltd. as at 31st March, 2019 is given below:
BALANCE SHEET
as at 31st March, 2019
|
Particulars |
Note No. |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
|
I. EQUITY AND LIABILITIES 1. Shareholder's Funds |
|||
|
(a) Share Capital |
3,26,000 |
2,44,000 |
|
|
(b) Reserves and Surplus |
|
1,00,000 |
1,00,000 |
|
2. Non-Current Liabilities |
|||
|
Long-term Borrowings |
|
6,96,000 |
4,38,000 |
|
3. Current Liabilities |
|||
|
Trade Payables |
|
2,98,000 |
78,000 |
| Total |
14,20,000 |
8,60,000 |
|
|
II. ASSETS |
|||
|
1. Non-Current Assets |
|||
|
(a) Fixed Assets |
5,68,000 | 4,30,000 | |
|
(b) Non-Current Investments |
|
6,000 |
4,000 |
|
2. Current Assets |
|||
|
(a) Trade Receivables |
|
6,46,000 |
3,76,000 |
|
(b) Cash and Cash Equivalents |
2,00,000 |
50,000 |
|
|
Total |
14,20,000 |
8,60,000 |
Prepare Comparative Balance Sheet showing percentage changes from 2018 to 2019.
From the following Balance Sheet of Depth Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:
|
Particulars |
Note No. |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
|
I. EQUITY AND LIABILITIES |
|||
|
1. Shareholders' Funds |
|||
|
(a) Share Capital |
2,80,000 |
1,80,000 |
|
|
(b) Reserves and Surplus |
1,00,000 |
1,00,000 |
|
|
2. Non-Current Liabilities |
|||
|
Long-term Borrowings |
80,000 |
20,000 |
|
|
3. Current Liabilities |
|||
|
Trade Payables |
50,000 |
30,000 |
|
|
Total |
5,10,000 |
3,30,000 |
|
|
II. ASSETS |
|||
|
1. Non-Current Assets |
|||
|
(a) Fixed Assets: |
|||
|
(i) Tangible Assets |
2,80,000 |
1,80,000 |
|
|
(ii) Intangible Assets |
50,000 |
30,000 |
|
|
(b) Non-Current Investments |
80,000 |
50,000 |
|
|
2. Current Assets |
|||
|
(a) Inventories |
70,000 |
30,000 |
|
|
(b) Cash and Cash Equivalents |
30,000 |
40,000 |
|
|
Total |
5,10,000 |
3,30,000 |
From the following Balance Sheet of H.P. Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:
|
Particulars |
Note No. |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
|
I. EQUITY AND LIABILITIES |
|||
|
1. Shareholders' Funds |
|||
|
(a) Share Capital: |
|||
|
(i) Equity Share Capital |
12,50,000 |
5,00,000 |
|
|
(ii) Preference Share Capital |
2,50,000 |
2,50,000 |
|
|
(b) Reserves and Surplus |
3,00,000 |
4,50,000 |
|
|
2. Non-Current Liabilities |
|||
|
Long-term Borrowings: 12% Debentures |
9,50,000 |
5,50,000 |
|
|
Loan from Directors |
2,50,000 |
2,00,000 |
|
|
3. Current Liabilities |
|||
|
(a)Short-term Borrowings |
3,50,000 |
1,75,000 |
|
|
(b) Trade Payables |
2,00,000 |
1,00,000 |
|
|
(c) Short-term Provisions |
50,000 |
25,000 |
|
|
Total |
36,00,000 |
22,50,000 |
|
|
II. ASSETS |
|||
|
1. Non-Current Assets |
|||
|
(a) Fixed Assets (Tangible) |
22,50,000 |
15,00,000 |
|
|
2. Current Assets |
|||
|
(a) Inventories |
4,50,000 |
2,50,000 |
|
|
(b) Trade Receivables |
8,00,000 |
4,50,000 |
|
|
(c) Cash and Cash Equivalents |
1,00,000 |
50,000 |
|
|
Total |
36,00,000 |
22,50,000 |
Prepare Comparative Statement of Profit and Loss from the following Statement of Profit and Loss:
|
Particulars |
Note No. |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
| I. Income | |||
|
Revenue from Operations (Net Sales) |
3,50,000 | 3,00,000 | |
| II. Expenses | |||
|
Purchases of Stock-in-Trade |
2,10,000 | 1,80,000 | |
|
Change in Inventories of Stock-in-Trade |
15,000 | 20,000 | |
|
Employees Benefits Expenses |
17,500 | 15,000 | |
|
Other Expenses |
7,500 |
5,000 | |
|
Total |
2,50,000 | 2,20,000 | |
| III. Profit before Tax (I-II) |
1,00,000 |
80,000 | |
|
IV. Less: Tax |
30,000 |
24,000 | |
|
V. Profit after Tax (III-IV) |
70,000 |
56,000 |
From the following Information, prepare Comparative Statement of Profit and Loss:
|
Particulars |
31st March, 2019 |
31st March, 2018 |
||
|
Revenue from Operations |
₹ 30,00,000 |
₹ 20,00,000 |
||
|
Other Income (% of Revenue from Operations) |
12% |
20% |
||
| Expenses (% of Operating Revenue) |
70% |
60% |
||
| Tax Rate |
40% |
40% |
||
From the following information, prepare Comparative Statement of Profit and Loss showing increase, decrease and percentage:
| Particulars | 31st March, 2019 |
31st March, 2018 |
||
| Cost of Materials Consumed | ₹ 13,44,000 |
₹ 6,00,000 |
||
| Revenue from Operations (% of Materials Consumed) | 125% |
200% |
||
| Other Expenses (% of Operating Revenue) | 10% | 10% | ||
| Tax Rate | 50% | 50% | ||
From the following Statement of Profit and Loss, prepare Comparative Statement of Profit and Loss:
|
Particulars |
Note No. |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
| I. Income | |||
|
Revenue from Operations (Net Sales) |
50,00,000 |
40,00,000 | |
| II. Expenses |
|
||
|
Purchases of Stock-in-Trade |
34,00,000 | 28,50,000 | |
|
Change in Inventories of Stock-in-Trade |
1 | 1,00,000 | 1,50,000 |
|
Employees Benefits Expenses |
1,00,000 | 1,00,000 | |
|
Other Expenses |
2 |
2,00,000 |
1,50,000 |
|
Total |
38,00,000 |
32,50,000 | |
| III. Net Profit (I-II) | 12,00,000 | 7,50,000 |
Notes to Accounts
|
Particulars |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
| I. Change in Inventory of stock-in-Trade | ||
|
Opening Inventory |
2,00,000 |
3,50,000 |
|
Less: Closing Inventory |
1,00,000 |
2,00,000 |
|
1,00,000 |
1,50,000 | |
| 2. Other Expenses | ||
|
Administrative Expenses |
50,000 |
50,000 |
|
Selling and Distribution Expenses |
1,50,000 |
1,00,000 |
|
2,00,000 |
1,50,000 |
Prepare Comparative Statement of Profit and Loss from the following information:
| Particulars | 31st March, 2019 |
31st March, 2018 | ||
| Revenue from Operations | ₹ 37,50,000 |
₹ 25,00,000 |
||
| Other Income | ₹ 4,50,000 |
₹ 5,00,000 |
||
| Cost of Materials Consumed | ₹ 22,50,000 | ₹ 12,50,000 | ||
| Other Expenses | ₹ 3,75,000 | ₹ 2,50,000 | ||
| Tax Rate | 50% | 50% | ||
From the following Statement of Profit and Loss of Antriksh Ltd. for the year ended 31st March, 2012 and 2013, Prepare Comparative Statement of Profit and Loss:
| Particulars | Note No. | 31st March, 2013 (₹) |
31st March, |
||
| Revenue from Operations | 14,00,000 | 8,00,000 | |||
| Other Incomes | 6,00,000 |
4,00,000 |
|||
|
Expenses |
17,00,000 |
11,00,000 |
|||
Rate of Income Tax was 40%.
From the following Balance Sheets of Vinayak Ltd. as at 31st March, 2019, prepare a comparative Balance Sheet.
Vinayak Ltd.
Balance Sheet as at 31st March, 2019
| Particulars |
Note No. |
31-03-19(₹) |
31-03-18(₹) |
|
| Equity and Liabilities |
|
|
|
|
| (1) | Shareholders Funds |
|
|
|
| (a) Share capital |
|
21,00,000 |
20,00,000 |
|
| (b) Reserves and Surplus |
|
2,30,000 |
2,00,000 |
|
| (2) | Non-current liabilities |
|
|
|
| Long term borrowing |
|
5,60,000 |
2,00,000 |
|
| (3) | Current liabilities |
|
|
|
| Trade payables |
|
2,80,000 |
1,00,000 |
|
| Total |
|
31,70,000 |
25,00,000 |
|
| Assets |
|
|
|
|
| (1) | Non-current Assets |
|
|
|
| Fixed Assets |
|
|
|
|
| (i) Tangible assets |
|
21,00,000 |
20,00,000 |
|
| (ii) Intangible assets |
|
3,00,000 |
2,00,000 |
|
| (2) | Current Assets |
|
|
|
| (a) Inventories |
|
5,60,000 |
2,00,000 |
|
| (b) cash and cash equivalents |
|
2,10,000 |
1,00,000 |
|
| Total |
|
31,70,000 |
25,00,000 |
Prepare a comparative statement of Profit and Loss from the following information extracted from the statement of Profit and Loss for the year ended 31st March, 2017 and 2018.
| Particulars | 2017-18 | 2016-17 |
| Revenue from operations | (₹) 12,00,000 | (₹)10,00,000 |
| Other income (% of Revenue from operations) | 25% | 25% |
| Employee benefit expenses(% of Total Revenue) | 40% | 30% |
| Tax Rate | 40% | 40% |
You are required to prepare a Comparative Statement of Profit & Loss from the following particulars of Nishant Ltd.
| Particulars | No. | 31.03.2021 (₹) |
31.03.2020 |
| Revenue from operations | 4,00,000 | 3,00,000 | |
| Cost of raw materials consumed | 2,00,000 | 1,50,000 | |
| Changes in inventories of raw materials |
25,000 | (12,500) |
Comparative statement are also known as?
Comparative Balance Sheet:
From the information extracted from the Statement of Profit and Loss prepare a Comparative Statement of Profit and Loss for the year ended 31st March, 2021:
| Particulars | 2020 - 21 (₹) | 2019 - 20 (₹) |
| Revenue from operations | 7,20,000 | 4,00,000 |
| Expenses | 5,00,000 | 2,00,000 |
| Tax Rate @ 50% |
From the following information, prepare comparative statement of Profit & Loss.
| Particulars | Note No. | 2022-23 (₹) | 2021-22 (₹) |
| Revenue from operations | 10,00,000 | 8,00,000 | |
| Other Income | 2,20,000 | 1,50,000 | |
| Cost of materials consumed | 4,00,000 | 3,00,000 | |
| Change in inventories of finished goods and work in progress | 2,00,000 | 1,00,000 | |
| Other Expenses (% of cost of Revenue from Operations) | 15% | 10% | |
| Tax Rate | 30% | 30% |
