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Question
Prepare a Comparative Statement of Profit and Loss from the following:
| Particulars | 31st March 2023 (₹) |
31st March 2024 (₹) |
| Revenue from Operations | 10,00,000 | 15,00,000 |
| Gross Profit | 40% | 30% |
| Other Expenses | 2,00,000 | 1,50,000 |
| Tax Rate | 40% | 30% |
Ledger
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Solution
| Comparative Statement of Profit and Loss for the years ended 31st March 2024 and 2023. |
|||||
| Particulars | Note No. | 31.3.2024 (₹) |
31.3.2023 (₹) |
Absolute Change (₹) |
Percentage Change (%) |
| I. Revenue from Operations | 15,00,000 | 10,00,000 | 5,00,000 | 50.00 | |
| II. Less: Expenses | |||||
| Cost of Revenue from Operations | 10,50,000 | 6,00,000 | 4,50,000 | 75.00 | |
| Other Expenses | 1,50,000 | 2,00,000 | 50,000 | (25.00) | |
| Total Expenses | 12,00,000 | 8,00,000 | 4,00,000 | 50.00 | |
| III. Profit before Tax (I - II) | 3,00,000 | 2,00,000 | 1,00,000 | 50.00 | |
| IV. Less: Tax | 90,000 | 80,000 | 10,000 | 12.50 | |
| V. Profit after Tax | 2,10,000 | 1,20,000 | 90,000 | 75.00 | |
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