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Question
From the following Statement of Profit and Loss of Shikha Ltd., prepare Comparative Statement of Profit and Loss for the year ended 31st March, 2023.
| Shikha Ltd. Statement of Profit and Loss for the year ended 31st March, 2023 |
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| Particulars | 2022-23 (₹) | 2021-22 (₹) |
| Revenue from operations | 32,00,000 | 20,00,000 |
| Expenses: | ||
| Employee benefit expenses | 9,60,000 | 6,00,000 |
| Other expenses | 6,40,000 | 4,00,000 |
Rate of Tax is 50%.
Ledger
Solution
| Comparative Statement of Profit and Loss of Shikha Ltd. For the year ended 31st March, 2022 and 31st March, 2023 |
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| Particulars | Note no. | 2021-22 (₹) (A) |
2022-23 (₹) (B) |
Absolute Change (₹) (C = B − A) |
Percentage Change (%) (D = C/A × 100) |
| I. Revenue from operations | 20,00,000 | 32,00,000 | 12,00,000 | 60 | |
| II. Total Income | 20,00,000 | 32,00,000 | 12,00,000 | 60 | |
| III. Less: Expenses | |||||
| (a) Employee benefit expenses | 6,00,000 | 9,60,000 | 3,60,000 | 60 | |
| (b) Other expenses | 4,00,000 | 6,40,000 | 2,40,000 | 60 | |
| Total Expenses | 10,00,000 | 16,00,000 | 6,00,000 | 60 | |
| IV. Profit before Tax (II - III) | 10,00,000 | 16,00,000 | 6,00,000 | 60 | |
| V. Less: Tax (50%) | 5,00,000 | 8,00,000 | 3,00,000 | 60 | |
| VI. Profit after Tax (IV - V) | 5,00,000 | 8,00,000 | 3,00,000 | 60 | |
shaalaa.com
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