Prepare Comparative Statement of Profit & Loss from the following Statement of Profit & Loss: Revenue from Operations (Net Sales) ₹ 3,50,000
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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