Question 22-Comparative
22. From the following information taken from Statement of Profit and Loss of Rose Products Ltd. for the year ended 31st March, 2016 and 2015, prepare Comparative Statement of Profit and Loss :
Rate of Income Tax was 50%
Also, calculate Net Profit Ratio for 2015-16.
Dear Student,
Comparative Statement of Profit & Loss:
Also, Net Profit Ratio for 2015-16 is
=
Regards,
Comparative Statement of Profit & Loss:
| Particulars | 2016 (A) | 2015(B) | Difference (C)=(A)- (B) | % (D) = (C)/(B)*100 |
| Revenue from Operations | 14,00,000 | 11,00,000 | 3,00,000 | 27.27% |
| Add; Other Income | 4,00,000 | 3,00,000 | 1,00,000 | 33,33 % |
| Total Income (X) | 18,00,000 | 14,000,000 | 4,00,000 | 28.57% |
| Less: Expenses (Y) | (11,00,000) | (12,00,000) | (1,00,000) | (8.33%) |
| Profit before tax (X)-(Y) | 7,00,000 | 2,00,000 | 5,00,000 | 250% |
| Less: Tax @ 50% | 3,50,000 | 1,00,000 | 2,50,000 | 250% |
| Profit after tax | 3,50,000 | 1,00,000 | 2,50,000 | 250% |
Also, Net Profit Ratio for 2015-16 is
=
Regards,