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Prepare Comparative Statement of Profit & Loss from the following Statement of Profit & Loss:

 

Particulars Note. No. 31st March, 2024 (₹) 31st March, 2023 (₹)
I. Income      
Revenue from Operations (Net Sales)   3,50,000 3,00,000
II. Expenses      
Purchases of Stock-in-Trade   2,10,000 1,80,000
Change in Inventories of Stock-in-Trade   15,000 20,000
Employees Benefit Expenses   17,500 15,000
Other Expenses   7,500 5,000
Total   2,50,000 2,20,000
III. Profit before Tax (I-II)   1,00,000 80,000
IV. Tax   30,000 24,000
V. Profit after Tax (III – IV)   70,000 56,000

 

[Ans.:]

 

Particulars Absolut Change (₹) Percentage Change (%)
Revenue from Operations 50,000 16,67
Purchase of Stock-in-Trade 30,000 16.67
Change in inventories of Stock-in-Trade (5,000) (25.00)
Employees Benefit Expenses 2,500 16.67
Other Expenses 2,500 50.00
Profit before Tax 20,000 25.00
Tax 6,000 25.00
Profit after Tax 14,000 25.00
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