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From the Following Statement of Profit and Loss, Prepare Comparative Statement of Profit and Loss: - Accountancy

Ledger

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
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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

Concept: Comparative Statements
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APPEARS IN

TS Grewal Class 12 Accountancy - Analysis of Financial Statements
Chapter 2 Tools of Financial Statement Analysis-Comparative Statements and Common-Size Statements
Exercise | Q 13 | Page 36
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