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Question
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%.
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Solution
| Comparative Income Statement For the years ended 31st March 2012 & 2013 |
||||
| Particulars |
2012-13 Rs |
2011-12 Rs |
Absolute Change Rs |
Percentage Change % |
| i. Revenue from operations | 14,00,000 | 11,00,000 | 3,00,000 | 27.27 |
| ii. Other Income | 2,00,000 | 1,40,000 | 60,000 | 42.85 |
| iii. Total Revenue (I+II) | 16,00,000 | 12,40,000 | 3,60,000 | 29.03 |
| iv. Expense | 8,00,000 | 9,00,000 | (1,00,000) | (11.11) |
| Profit before Income Tax(III-IV) | 8,00,000 | 9,00,000 | 4,60,000 | 135.29 |
| Less: Income Tax | 3,20,000 | 1,36,000 | 1,84,000 | 135.29 |
| Profit after Income Tax | 4,80,000 | 2,04,000 | 2,76,000 | 135.29 |
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