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Question
From the following data of Horizon Ltd., you are required to prepare a Comparative Statement of Profit and Loss.
| Particulars | 31.03.2022 | 31.03.2021 |
| Revenue from Operations (% of Other Income) | 100% | 100% |
| Other Income | ₹ 1,00,000 | ₹ 50,000 |
| Cost of Materials consumed | ₹ 50,000 | ₹ 20,000 |
| Depreciation and Amortisation Expense | ₹ 10,000 | ₹ 5,000 |
Solution
| In the Books of Horizon Ltd. (Comparative Statement of Profit And Loss) for the years ended 31st March 2021 and 2022 |
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| Particulars | Note No. | 31st March 2021 | 31st March 2022 | Absolute Change (Increase or decrease) | Percentage Change (Increase or decrease) |
| A | B | C = B − A | `bb("D" = "C"/"A" xx 100)` | ||
| ₹ | ₹ | ₹ | ₹ | ||
| I. Revenue from operations | 50,000 | 1,00,000 | 50,000 | 100.00 | |
| II. Other Income | 50,000 | 1,00,000 | 50,000 | 100.00 | |
| III. Total Revenue | 1,00,000 | 2,00,000 | 1,00,000 | 100.00 | |
| IV. Total expenses: Cost of material consumed | 20,000 | 50,000 | 30,000 | 150.00 | |
| Depreciation and amortization expenses | 5,000 | 10,000 | 5,000 | 100.00 | |
| 25,000 | 60,000 | 35,000 | 140.00 | ||
| V. Profit before tax (III - IV) | 75,000 | 1,40,000 | 65,000 | 86.67 | |
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RELATED QUESTIONS
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 |
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| 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 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 |
Give any two differences between horizontal analysis and vertical analysis of financial statements.
Answer the following in brief :
What is comparative financial statement?
From the following information, prepare Comparative Statement of Profit and Loss showing increase, decrease and percentage:
| Particulars | 31st March, 2019 |
31st March, 2018 |
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| Cost of Materials Consumed | ₹ 13,44,000 |
₹ 6,00,000 |
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| 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) |
20,00,000 | 17,50,000 | |
|
Other Income |
75,000 |
50,000 | |
|
Total |
20,75,000 | 18,00,000 | |
| II. Expenses |
|
||
|
Purchases of Stock-in-Trade |
11,60,000 | 10,00,000 | |
|
Change in Inventories of Stock-in-Trade |
10,000 | (25,000) | |
|
Employees Benefits Expenses |
1 | 3,00,000 | 3,00,000 |
|
Depreciation and Amortisation Expenses |
50,000 | 50,000 | |
|
Other Expenses |
2 |
90,000 |
75,000 |
|
Total |
16,10,000 |
14,00,000 | |
| III. Net Profit (I-II) | 4,65,000 | 4,00,000 |
Notes to Accounts
|
Particulars |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
| I. Employees Benefit Expenses | ||
|
Wages |
3,00,000 |
3,00,000 |
| 2. Other Expenses | ||
|
Administrative and General Expenses |
70,000 |
50,000 |
|
Miscellaneous Expenses |
20,000 |
25,000 |
|
90,000 |
75,000 |
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% |
Comparative statement are also known as?
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 Balance Sheet of J. J. Ltd. prepare a Comparative Balance Sheet as at 31.3.2022:
| J. J. Ltd. Balance Sheet as at 31.3.2022 |
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| Particulars | Note No. | 31.3.2022 (₹) | 31.3.2021 (₹) |
| I. Equity and Liabilities | |||
| 1. Shareholders' Funds | |||
| (a) Equity Share Capital | 25,00,000 | 20,00,000 | |
| (b) Reserves and Surplus | 5,00,000 | 4,00,000 | |
| 2. Non-Current Liabilities | |||
| Long-term borrowings | 10,00,000 | 10,00,000 | |
| 3. Current Liabilities | |||
| Trade payables | 2,00,000 | 1,00,000 | |
| Total | 42,00,000 | 35,00,000 | |
| II. Assets | |||
| 1. Non Current Assets | |||
| Fixed Assets | 30,00,000 | 25,00,000 | |
| 2. Current Assets | |||
| Inventories | 12,00,000 | 10,00,000 | |
| Total | 42,00,000 | 35,00,000 | |
