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Question
Jubilant Food Works Ltd., the company that operates Domino’s restaurants in India, reported a net profit of ₹ 65.7 crore for the three months ending, 31st December, 2023, against ₹ 80 crore for the three months ending, 31st December, 2022.
You are required to give, for the three months ending, 31st December, 2023, as compared to the same period ending, 31st December, 2022:
- The formula to calculate the percentage change in net profit of the company.
- The percentage change in the net profit of Jubilant Food Works Ltd. of the three months ending 31st December, 2023 vis-a-vis the three months ending, 31st December, 2022, mentioning the increase/decrease.
Solution
- `"Absolute change in net profit"/"Base year (previous year) profit" xx 100`
- Decrease of 21.77 %
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What is meant by inter-firm analysis?
The Balance Sheet of Hari, Jacob and James as at 31st March, 2023, stood as follows:
| Balance Sheet of Hari, Jacob and James As at 31st March, 2023 |
|||||
| Liabilities | (₹) | (₹) | Assets | (₹) | (₹) |
| Capital Accounts | Fixed Assets | 3,50,000 | |||
| Hari | 3,40,000 | Debtors | 2,50,000 | ||
| Jacob | 1,90,000 | Bank | 1,50,000 | ||
| James | 2,20,000 | 7,50,000 | |||
| 7,50,000 | 7,50,000 | ||||
Jacob died on 30th June, 2023.
His drawings from 1st April, 2023, up to the date of his death amounted to ₹ 1,00,000 According to the partnership deed, Jacob was:
- To be charged with interest on drawings @ 4% per annum.
- Entitled to his share of interim profits for which his capital account was credited with ₹ 1,10,000.
- Entitled to his share in the non-purchased goodwill of the firm.
The firm's non-purchased goodwill on the date of Jacob's death had no value.
The final amount due to Jacob by the firm was transferred to his executor's loan account.
You are required to prepare the Interim Balance Sheet of the reconstituted firm as at 30th June, 2023.
