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Prepare a Comparative Statement of Profit and Loss from the Following Information Extracted from the Statement of Profit and Loss for the Year Ended 31st March, 2017 and 2018. - Accountancy

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Sum

Prepare a comparative statement of Profit and Loss from the following information extracted from the statement of Profit and Loss for the year ended 31st March, 2017 and 2018.

Particulars 2017-18 2016-17
Revenue from operations (₹) 12,00,000 (₹)10,00,000
Other income (% of Revenue from operations) 25% 25%
Employee benefit expenses(% of Total Revenue) 40% 30%
Tax Rate 40% 40%
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Solution

Comparative Statement of Profit & Loss
For the year ended 31st March 2017 and 2018

Particulars

Note No.

2016-17 (₹)

2017-18 (₹)

Absolute Change (₹)

Percentage Change
I. Revenue from Operations   10,00,000 12,00,000 2,00,000 20%
II. Other Income (% of Revenue from Operations)
  2,50,000 3,00,000 50,000 20%
III. Total Revenue (I + II)   12,50,000 15,00,000 2,50,000 20%
Less: Employee Benefit Expenses (% of Total Revenue)   3,75,000 6,00,000 2,25,000 60%
IV. Profit before Interest and Tax   8,75,000 9,00,000 25,000 2.86%
Less: Tax @ 40%   3,50,000 3,60,000 10,000 2.86%
V. Profit After Interest and Tax   5,25,000 5,40,000 15,000 2.86%
Concept: Comparative Statements
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