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Question
Prepare a Comparative Statement of Profit with the help of the following information:
| Particulars | Note No. | 31-3-2024 (₹) |
31-3-2023 (₹) |
| Revenue from Operations | 30,00,000 | 20,00,000 | |
| Purchase of Stock in Trade | 16,00,000 | 12,00,000 | |
| Change in Inventories | (1,25,000) | 2,50,000 | |
| Other Expenses | 10% of Revenue from Operations | 8% 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. | 31-3-2024 (₹) |
31-3-2023 (₹) |
Absolute Change (₹) | Percentage Change (%) |
| I. Revenue from Operations | 30,00,000 | 20,00,000 | 10,00,000 | 50.00 | |
| II. Less: Expenses | |||||
| (a) Purchase of Stock in Trade | 16,00,000 | 12,00,000 | 4,00,000 | 33.33 | |
| (b) Changes in Inventories | (1,25,000) | 2,50,000 | (3,75,000) | (150.00) | |
| (c) Other Expenses | 3,00,000 | 1,60,000 | 1,40,000 | 87.50 | |
| Total Expenses | 17,75,000 | 16,10,000 | 1,65,000 | 10.25 | |
| III. Profit before tax (I − II) | 12,25,000 | 3,90,000 | 8,35,000 | 214.10 | |
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