wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

With the help of the following information obtained from the books of Raj Silk Mills, prepare Comparative Statement of Profit and Loss for the year ended 31st March, 2016 :

Particulars 31st March, 2016 31st March, 2015 Revenue from Operations300 % of Cost of200 % of Cost ofMaterials ConsumedMaterials ConsumedExpenses : Cost of Materials ConsumedRs. 12,00,000Rs. 10,00,000 Other Expenses20% of Cost of10% of Cost ofMaterials Consumed Materials ConsumedTax50%50%

Open in App
Solution

COMPARATIVE STATEMENT OF PROFIT AND LOSS

for the years ended 31st March, 2015 and 2016

AbsolutePercentageNote31st31stChangeChangeParticularsNo.March,March,(Increase or(Increase or20152016Decrease)Decrease)Rs.Rs.Rs.%I. Revenue from Operation20,00,000–––––––––36,00,000–––––––––16,00,000––––––––– 80.00 –––––––––II. Less : Expenses : (a)Cost of Materials Consumed10,00,00012,00,0002,00,00020.00 (b)Other Expenses1,00,000––––––––2,40,000––––––––1,40,000––––––––140.00 Total Expenses11,00,000–––––––––14,40,000–––––––––3,40,000––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 30.91 –––––––––III Profit before Tax (I-II)9,00,00021,60,00012,60,000140.00IV Less : Tax4,50,000––––––––10,80,000–––––––––6,30,000––––––––140.00–––––V. Profit after tax (III - IV)4,50,00010,80,0006,30,000140.00


flag
Suggest Corrections
thumbs-up
0
similar_icon
Similar questions
View More
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Comparative Financial Statement
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon