Question

Prepare a ‘Comparative Statement of Profit and Loss’ from the following information:

Particulars	31st March, 2023	31st March, 2022
Revenue from Operations	200% of Raw Materials Consumed	175% of Raw Materials Consumed
Expenses:
Cost of Raw Materials Consumed	₹ 5,00,000	₹ 3,00,000
Other Expenses	5% of Revenue from Operations	5% of Revenue from Operations
Rate of Income Tax	50% of Net Profit before Tax	50% of Net Profit before Tax

Answer 1

Comparative Statement of Profit and Loss for the years ended 31st March 2023 and 2022
Particulars	Note No.	31.3.2023	31.3.2022	Absolute Change (₹)	Percentage Change (₹)
I. Revenue from Operations		10,00,000	5,25,000	4,75,000	90.48
II. Less: Expenses
(a) Cost of Materials Consumed		5,00,000	3,00,000	2,00,000	66.67
(b) Other Expenses		50,000	26,250	23,750	90.48
Total Expenses		5,50,000	3,26,250	2,23,750	68.48
III. Profit before tax (I − II)		4,50,000	1,98,750	2,51,250	126.42
IV. Less: Tax		2,25,000	99,375	1,25,625	126.42
V. Profit after tax (III − IV)		2,25,000	99,375	1,25,625	126.42