Q No 14: (a) From the information extracted from the Statement of Profit and Loss prepare a Comparative Statement of - Accountancy - Financial Statements of a Company

Question

Q No 14: (a) From the information extracted from the Statement of
Profit and Loss prepare a Comparative Statement of Profit and Loss
for the year ended 31st March, 2021:

Ishi · Accepted Answer

Solution:
COMPARATIVE STATEMENT OF PROFIT & LOSS

PARTICULARS
2019-20 (a)
2020-21 (b)
Absolute change
Percentage change

I Revenue from operation
400000
720000
320000
80%

(-) Expenses
(200000)
(500000)
(300000)
150%

Profit before tax
200000
220000
20000
10%

(-) Tax (50%)
(100000)
(110000)
(10000)
10%

Profit after tax
100000
110000
10000
10%

Absolute change = b -a
Percentage change = absolute change / (a) x 100

PARTICULARS	2019-20 (a)	2020-21 (b)	Absolute change	Percentage change
I. Revenue from operation	400000	720000	320000	80%
(-) Expenses	(200000)	(500000)	(300000)	150%
Profit before tax	200000	220000	20000	10%
(-) Tax (50%)	(100000)	(110000)	(10000)	10%
Profit after tax	100000	110000	10000	10%

Q.No.14: (a) From the information extracted from the Statement of Profit and Loss prepare a Comparative Statement of Profit and Loss for the year ended 31st March, 2021: