With the help of the following information prepare a Comparative Statement of Profit & Loss of Gopal Ltd Revenue from Operations ₹ 5,00,000
With the help of the following information prepare a Comparative Statement of Profit & Loss of Gopal Ltd.
| Particulars | 31.03.2021 | 31.03.2022 |
| Revenue from Operations | 5,00,000 | 8,00,000 |
| Cost of Material Consumed | 60% of Revenue from Operations | 70% of Revenue from Operations |
| Other Expenses | 20,000 | 24,000 |
| Rate of Income Tax | 50% of net profit before tax | 50% of net profit before tax |
[Ans. Profit after Tax 2021 ₹ 90,000; 2022 ₹ 1,08,000.]
| Revenue from Operations | 60.00 |
| Cost of Material Consumed | 86.67 |
| Other Expenses | 20.00 |
| Profit before and after tax | 20.00 |
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