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Question
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% |
Solution
Comparative Statement of Profit & Loss
For the year ended 31st March 2017 and 2018
| Particulars |
Note No. |
2016-17 (₹) |
2017-18 (₹) |
Absolute Change (₹) |
Percentage Change |
| I. Revenue from Operations | 10,00,000 | 12,00,000 | 2,00,000 | 20% | |
| II. Other Income (% of Revenue from Operations) |
2,50,000 | 3,00,000 | 50,000 | 20% | |
| III. Total Revenue (I + II) | 12,50,000 | 15,00,000 | 2,50,000 | 20% | |
| Less: Employee Benefit Expenses (% of Total Revenue) | 3,75,000 | 6,00,000 | 2,25,000 | 60% | |
| IV. Profit before Interest and Tax | 8,75,000 | 9,00,000 | 25,000 | 2.86% | |
| Less: Tax @ 40% | 3,50,000 | 3,60,000 | 10,000 | 2.86% | |
| V. Profit After Interest and Tax | 5,25,000 | 5,40,000 | 15,000 | 2.86% |
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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.
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 the year ended 31st March 2013, prepare a comparative statement of Profit and Loss ‘of Better Sales Ltd.
| Particulars | 2012-13 Rs | 2011-12 Rs |
|
Revenue from operation Other expenses Expenses |
7,00,000 75,000 4,50,000 |
5,00,000 1,00,000 3,75,000 |
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%.
Give one word/term/ phrase for the following statement
The statement showing profitability of two different period and its percentage change.
Prepare Comparative Income Statement from the following information:
| Particulars | 2015-16 Rs. |
2016-17 Rs. |
| Manufacturing expenses | 35,000 | 80,000 |
| Opening stock | 30,000 | 60% of closing stock |
| Sales | 9,60,000 | 4,50,000 |
| Returns outward | 4,000 (out of credit purchase) | 6,000 (out of cash purchase) |
| Closing stock | 150% of opening stock | 1,00,000 |
| Credit purchases | 1,50,000 | 150% of cash purchase |
| Cash purchases | 80% of credit purchases | 40,000 |
| Carriage outward | 10,000 | 30,000 |
| Building | 1,00,000 | 2,00,000 |
| Depreciation on building | 20% | 10% |
| Interest on bank overdraft | 5,000 | - |
| 10% debentures | 2,00,000 | 20,00,000 |
| Profit on sale of copyright | 10,000 | 20,000 |
| Loss on sale of personal car | 10,000 | 20,000 |
| Other operating expenses | 20,000 | 10,000 |
| Tax rate | 50% | 40% |
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 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 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 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 |
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 |
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:
Comparative Statement of Profit and Loss provides information about:
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% |
