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Question
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) |
20,00,000 | 17,50,000 | |
|
Other Income |
75,000 |
50,000 | |
|
Total |
20,75,000 | 18,00,000 | |
| II. Expenses |
|
||
|
Purchases of Stock-in-Trade |
11,60,000 | 10,00,000 | |
|
Change in Inventories of Stock-in-Trade |
10,000 | (25,000) | |
|
Employees Benefits Expenses |
1 | 3,00,000 | 3,00,000 |
|
Depreciation and Amortisation Expenses |
50,000 | 50,000 | |
|
Other Expenses |
2 |
90,000 |
75,000 |
|
Total |
16,10,000 |
14,00,000 | |
| III. Net Profit (I-II) | 4,65,000 | 4,00,000 |
Notes to Accounts
|
Particulars |
31st March, 2019 (₹) |
31st March, 2018 (₹) |
| I. Employees Benefit Expenses | ||
|
Wages |
3,00,000 |
3,00,000 |
| 2. Other Expenses | ||
|
Administrative and General Expenses |
70,000 |
50,000 |
|
Miscellaneous Expenses |
20,000 |
25,000 |
|
90,000 |
75,000 |
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Solution
Comparative Income Statement
for the year ended March 31, 2018 and 2019
|
Particulars |
March 31, 2018 (₹) |
March 31, 2019 (₹) |
Absolute Change (₹) |
Percentage Change (%) |
|
I. Revenue from Operations |
17,50,000 |
20,00,000 |
2,50,000 |
14.29 |
|
II. Other Income |
50,000 |
75,000 |
25,000 |
50.00 |
|
III. Total Revenue (I + II) |
18,00,000 |
20,75,000 |
2,75,000 |
15.28 |
|
IV. Expenses |
|
|
|
|
|
a. Purchases of Stock-in-Trade |
10,00,000 |
11,60,000 |
1,60,000 |
16.00 |
|
b. Changes in Inventory of Stock-in-Trade |
(25,000) |
10,000 |
35,000 |
140.00 |
|
c. Employee Benefit Expenses |
3,00,000 |
3,00,000 |
– |
– |
|
d. Depreciation |
50,000 |
50,000 |
– |
– |
|
e. Other Expenses |
75,000 |
90,000 |
15,000 |
20.00 |
| 14,00,000 | 16,10,000 | 2,10,000 | 15.00 | |
|
Less: Income Tax |
– |
– |
– |
– |
|
Profit after Income Tax |
4,00,000 |
4,65,000 |
65,000 |
16.25 |
