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Question
Prepare a Comparative Statement of Profit from the following information:
| Particulars | Note No. | 31st March 2024 (₹) |
31st March 2023 (₹) |
| Revenue from Operations | 15,00,000 | 12,00,000 | |
| Purchase of Stock in Trade | 10,00,000 | 7,00,000 | |
| Changes in Inventories | 1,50,000 | 1,00,000 | |
| Other Expenses | 8% of Revenue from Operations | 10% of Revenue from Operations |
Ledger
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Solution
| Comparative Statement of Profit and Loss for the years ended 31st March, 2024 and 2023 |
|||||
| Particulars | Note No. | 31st March 2024 (₹) |
31st March 2023 (₹) |
Absolute Change (₹) |
Percentage Change (%) |
| I. Revenue from Operations | 15,00,000 | 12,00,000 | 3,00,000 | 25.00 | |
| II. Less: Expenses | |||||
| (a) Purchase of Stock in Trade | 10,00,000 | 7,00,000 | 3,00,000 | 42.86 | |
| (b) Changes in Inventories | 1,50,000 | 1,00,000 | 50,000 | 50.00 | |
| (c) Other Expenses | 1,20,000 | 1,20,000 | - | - | |
| Total Expenses | 12,70,000 | 9,20,000 | 3,50,000 | 338.04 | |
| III. Profit before tax | 2,30,000 | 2,80,000 | (50,000) | (17.86) | |
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