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) |
50,00,000 |
40,00,000 | |
| II. Expenses |
|
||
|
Purchases of Stock-in-Trade |
34,00,000 | 28,50,000 | |
|
Change in Inventories of Stock-in-Trade |
1 | 1,00,000 | 1,50,000 |
|
Employees Benefits Expenses |
1,00,000 | 1,00,000 | |
|
Other Expenses |
2 |
2,00,000 |
1,50,000 |
|
Total |
38,00,000 |
32,50,000 | |
| III. Net Profit (I-II) | 12,00,000 | 7,50,000 |
Notes to Accounts
|
Particulars |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
| I. Change in Inventory of stock-in-Trade | ||
|
Opening Inventory |
2,00,000 |
3,50,000 |
|
Less: Closing Inventory |
1,00,000 |
2,00,000 |
|
1,00,000 |
1,50,000 | |
| 2. Other Expenses | ||
|
Administrative Expenses |
50,000 |
50,000 |
|
Selling and Distribution Expenses |
1,50,000 |
1,00,000 |
|
2,00,000 |
1,50,000 |
Solution
Comparative Income Statement
for the year ended March 31, 2018 and 2019
|
Particulars |
2018 (₹) |
2019 (₹) |
Absolute Change (₹) |
Percentage Change (%) |
|
I. Revenue from Operations |
40,00,000 |
50,00,000 |
10,00,000 |
25.00 |
|
II. Expenses: |
|
|
|
|
|
a. Purchases of Stock-in-Trade |
28,50,000 |
34,00,000 |
5,50,000 |
19.30 |
|
b. Changes in Inventories of Stock-in-Trade |
1,50,000 |
1,00,000 |
(50,000) |
(33.33) |
|
c. Employees Benefit Expenses |
1,00,000 |
1,00,000 |
– |
– |
|
d. Other Expenses |
1,50,000 |
2,00,000 |
50,000 |
33.33 |
|
|
32,50,000 |
38,00,000 |
5,50,000 |
16.92 |
Profit before Income Tax (I-II) |
7,50,000 |
12,00,000 |
4,50,000 |
60.00 |
|
Less: Income Tax |
– |
– |
– |
– |
|
Profit after Income Tax |
7,50,000 |
12,00,000 |
4,50,000 |
60.00 |
