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Question
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%.
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Solution
Comparative Income Statement
for the year ending March 31, 2012 and 2013
|
Particulars |
Note No. |
2012 (Rs) |
2013 (Rs) |
Absolute Change (Rs) |
Percentage Change |
|
|
1. Revenue from Operations |
|
8,00,000 |
14,00,000 |
6,00,000 |
75 |
|
|
2. Other Income |
|
4,00,000 |
6,00,000 |
2,00,000 |
50 |
|
|
3. Total Revenue (1 + 2) |
|
12,00,000 |
20,00,000 |
8,00,000 |
66.67 |
|
|
4. Expenses |
|
|
|
|
|
|
| a. Other Expenses |
|
11,00,000 |
17,00,000 |
6,00,000 |
54.55 |
|
|
Total Expenses |
|
11,00,000 |
17,00,000 |
6,00,000 |
54.55 |
|
|
5. Profit before Tax ( 3- 4) |
|
1,00,000 |
3,00,000 |
2,00,000 |
200 |
|
|
Less: Income Tax (40%) |
|
40,000 |
1,20,000 |
80,000 |
200 |
|
|
6. Profit After Tax |
|
60,000 |
1,80,000 |
1,20,000 |
200 |
|
