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Question
From the following details provided by Kumud Ltd., prepare a Comparative Statement of Profit & Loss for the year ended 31st March 2021:
| Particulars | 31.03.20 (₹) | 31.03.21 (₹) |
| Revenue from operations | 30,00,000 | 35,00,000 |
| Other Income | 3,00,000 | 4,50,000 |
| Cost of materials Consumed | 20,00,000 | 23,00,000 |
| Other Expenses | 1,00,000 | 1,20,000 |
| Tax rate | 40% | 40% |
Solution
| COMPARATIVE STATEMENT PROFIT AND LOSS FOR THE YEAR ENDED 31st March, 2021 |
|||||
| Particulars | Note No. | 31.03.20 (₹) | 31.03.21 (₹) | Absolute Change (Increase/ Decrease) | Percentage Change (Increase/ Decrease) % |
| (A) | (B) | (C= B-A) | (D = `"𝐶"/" 𝐴"` x 100) | ||
| 1.Revenue from operations | 30,00,000 | 35,00,000 | 5,00,000 | 16.67 | |
| 2. Other Income | 3,00,000 | 4,50,000 | 1,50,000 | 50.00 | |
| 3. Total Revenue | 33,00,000 | 39,50,000 | 6,50,000 | 19.69 | |
| 4. Expenses | |||||
| a) Cost of Materials Consumed | 20,00,000 | 23,00,000 | 3,00,000 | 15.00 | |
| b) Other Expenses | 1,00,000 | 1,20,000 | 20,000 | 20.00 | |
| Total Expenses | 21,00,000 | 24,20,000 | 3,20,000 | 15.24 | |
| Profit Before Tax | 12,00,000 | 15,30,000 | 3,30,000 | 27.50 | |
| Less: Tax @40% | 4,80,000 | 6,12,000 | 1,32,000 | 27.50 | |
| Profit After Tax | 7,20,000 | 9,18,000 | 1,98,000 | 27.50 | |
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