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Page No 3.30:

Question 1:

Answer:

In the books of D Ltd.
Comparative Balance Sheet
as at March 31, 2017 and 2018
Particulars
2017
(Rs)
2018
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Equity and Liabilities
 
 
 
 
1. Shareholders’ Funds
 
 
 
 
a. Share Capital
3,00,000
3,50,000
50,000
16.67
Shareholders’ Fund
3,00,000
3,50,000
50,000
16.67
2. Non-Current Liabilities
 
 
 
 
a. Long-term Borrowings
2,00,000
1,00,000
(1,00,000)
(50.00)
3. Current Liabilities
 
 
 
 
a. Trade Payables
1,00,000
1,50,000
50,000
50.00
Total
6,00,000
6,00,000
 
 
 
 
 
II. Assets
 
 
 
 
1. Non-Current Assets
 
 
 
 
a. Fixed Assets (Tangible)
3,00,000
4,00,000
1,00,000
33.33
2. Current Assets
 
 
 
 
a. Trade Receivables
3,00,000
2,00,000
(1,00,000)
(33.33)
Total
6,00,000
6,00,000
 
 
 
 
 

Page No 3.30:

Question 2:

In the books of D Ltd.
Comparative Balance Sheet
as at March 31, 2017 and 2018
Particulars
2017
(Rs)
2018
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Equity and Liabilities
 
 
 
 
1. Shareholders’ Funds
 
 
 
 
a. Share Capital
3,00,000
3,50,000
50,000
16.67
Shareholders’ Fund
3,00,000
3,50,000
50,000
16.67
2. Non-Current Liabilities
 
 
 
 
a. Long-term Borrowings
2,00,000
1,00,000
(1,00,000)
(50.00)
3. Current Liabilities
 
 
 
 
a. Trade Payables
1,00,000
1,50,000
50,000
50.00
Total
6,00,000
6,00,000
 
 
 
 
 
II. Assets
 
 
 
 
1. Non-Current Assets
 
 
 
 
a. Fixed Assets (Tangible)
3,00,000
4,00,000
1,00,000
33.33
2. Current Assets
 
 
 
 
a. Trade Receivables
3,00,000
2,00,000
(1,00,000)
(33.33)
Total
6,00,000
6,00,000
 
 
 
 
 

Answer:

In the books of Radha Ltd.
Comparative Balance Sheet
as at March 31, 2017 and 2018
Particulars
2017
(Rs)
2018
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Equity and Liabilities
 
 
 
 
1. Shareholders’ Funds
 
 
 
 
a. Equity Share Capital
10,00,000
15,00,000
5,00,000
50.00
b. Reserve and Surplus
10,00,000
10,00,000
Shareholders’ Fund
20,00,000
25,00,000
5,00,000
25.00
2. Non-Current Liabilities
 
 
 
 
a. Long-term Borrowings
2,00,000
8,00,000
6,00,000
300.00
3. Current Liabilities
3,00,000
5,00,000
2,00,000
66.67
Total
25,00,000
38,00,000
13,00,000
52.00
II. Assets
 
 
 
 
1. Non-Current Assets
 
 
 
 
a. Fixed Assets (Tangible)
15,00,000
25,00,000
10,00,000
66.67
b. Intangible Assets
5,00,000 5,00,000 - -
 
20,00,000
30,00,000
10,00,000
50.00
     2. Current Assets        
a. Trade Receivables  
3,50,000 6,00,000 2,50,000 71.43
b. Cash and Cash Equivalents
1,50,000 2,00,000 50,000 33.33
 
5,00,000
8,00,000
3,00,000
60.00
Total 25,00,000 38,00,000 13,00,000 52.00
 
 
 
 
 



Page No 3.31:

Question 3:

In the books of Radha Ltd.
Comparative Balance Sheet
as at March 31, 2017 and 2018
Particulars
2017
(Rs)
2018
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Equity and Liabilities
 
 
 
 
1. Shareholders’ Funds
 
 
 
 
a. Equity Share Capital
10,00,000
15,00,000
5,00,000
50.00
b. Reserve and Surplus
10,00,000
10,00,000
Shareholders’ Fund
20,00,000
25,00,000
5,00,000
25.00
2. Non-Current Liabilities
 
 
 
 
a. Long-term Borrowings
2,00,000
8,00,000
6,00,000
300.00
3. Current Liabilities
3,00,000
5,00,000
2,00,000
66.67
Total
25,00,000
38,00,000
13,00,000
52.00
II. Assets
 
 
 
 
1. Non-Current Assets
 
 
 
 
a. Fixed Assets (Tangible)
15,00,000
25,00,000
10,00,000
66.67
b. Intangible Assets
5,00,000 5,00,000 - -
 
20,00,000
30,00,000
10,00,000
50.00
     2. Current Assets        
a. Trade Receivables  
3,50,000 6,00,000 2,50,000 71.43
b. Cash and Cash Equivalents
1,50,000 2,00,000 50,000 33.33
 
5,00,000
8,00,000
3,00,000
60.00
Total 25,00,000 38,00,000 13,00,000 52.00
 
 
 
 
 

Answer:

In the books of Blue Bell Ltd.
Comparative Balance Sheet
as at March 31, 2017 and 2018
Particulars
2017
(Rs)
2018
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Equity and Liabilities
 
 
 
 
1. Shareholders’ Funds
 
 
 
 
a. Equity Share Capital
2,44,000
3,26,000
82,000
33.61
b. Reserves and Surplus
1,00,000 1,00,000 - -
Shareholder's Funds
3,44,000
4,26,000
82,000
23.84
     2. Non-Current Liabilities        
a. Long-term Borrowings
4,38,000
6,96,000
2,58,000
58.90
3. Current Liabilities
78,000
2,98,000
2,20,000
282.05
Total
8,60,000
14,20,000
5,60,000
65.12
         
II. Assets
 
 
 
 
1. Non-Current Assets
 
 
 
 
a. Fixed Assets (Tangible)
4,30,000
5,68,000
1,38,000
32.09
b. Non-Current Investments
4,000
6,000
2,000
50.00
  4,34,000 5,74,000 1,40,000 32.26
2. Current Assets
 
 
 
 
          a. Trade Receivables 3,76,000 6,46,000 2,70,000 71.81
          b. Cash and Cash Equivalents 50,000 2,00,000 1,50,000 300.00
  4,26,000 8,46,000 4,20,000 98.59
Total
8,60,000
14,20,000
5,60,000
65.12
 
 
 
 
 



Page No 3.32:

Question 4:

In the books of Blue Bell Ltd.
Comparative Balance Sheet
as at March 31, 2017 and 2018
Particulars
2017
(Rs)
2018
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Equity and Liabilities
 
 
 
 
1. Shareholders’ Funds
 
 
 
 
a. Equity Share Capital
2,44,000
3,26,000
82,000
33.61
b. Reserves and Surplus
1,00,000 1,00,000 - -
Shareholder's Funds
3,44,000
4,26,000
82,000
23.84
     2. Non-Current Liabilities        
a. Long-term Borrowings
4,38,000
6,96,000
2,58,000
58.90
3. Current Liabilities
78,000
2,98,000
2,20,000
282.05
Total
8,60,000
14,20,000
5,60,000
65.12
         
II. Assets
 
 
 
 
1. Non-Current Assets
 
 
 
 
a. Fixed Assets (Tangible)
4,30,000
5,68,000
1,38,000
32.09
b. Non-Current Investments
4,000
6,000
2,000
50.00
  4,34,000 5,74,000 1,40,000 32.26
2. Current Assets
 
 
 
 
          a. Trade Receivables 3,76,000 6,46,000 2,70,000 71.81
          b. Cash and Cash Equivalents 50,000 2,00,000 1,50,000 300.00
  4,26,000 8,46,000 4,20,000 98.59
Total
8,60,000
14,20,000
5,60,000
65.12
 
 
 
 
 

Answer:

In the books of Wye Ltd.

Comparative Balance Sheet

as at March 31, 2017 and 2018

Particulars

2017

(Rs)

2018

(Rs)

Absolute

Change

(Rs)

Comments

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

        a. Equity Share Capital

4,00,000

4,00,000

-

No Change

        b. Preference Share Capital 1,00,000 1,00,000 - No Change

ii. Reserve and Surplus

1,10,000

1,20,000

10,000

Increase

 Shareholders’ Fund

6,10,000

6,20,000

10,000

 

2. Non-Current Liabilities

 

 

 

 

a. Long-term Borrowings

 

 

 

 

Bank Loan

4,50,000

3,50,000

1,00,000

Decrease

8% Debentures

-

1,00,000

1,00,000

Increase

          b. Long-Term Provision 1,00,000 50,000 50,000 Decrease

3. Current Liabilities

 

 

 

 

         a. Trade Payables 3,30,000 5,30,000 2,00,000 Increase

         b. Short-Term Provisions

50,000

50,000

-

No Change

Total

15,40,000

17,00,000

1,60,000

 

 

 

 

 

 

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

10,40,000

9,90,000

50,000

Decrease

          b. Non-Current Investments 1,00,000 1,00,000 - No Change

2. Current Assets

 

 

 

 

b. Trade Receivables

3,00,000

5,00,000

2,00,000

Increase

c. Cash and Cash Equivalents

1,00,000

1,10,000

10,000

Increase

Total

15,40,000

17,00,000

1,60,000

 

 

 

 

 

 



Page No 3.33:

Question 5:

In the books of Wye Ltd.

Comparative Balance Sheet

as at March 31, 2017 and 2018

Particulars

2017

(Rs)

2018

(Rs)

Absolute

Change

(Rs)

Comments

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

        a. Equity Share Capital

4,00,000

4,00,000

-

No Change

        b. Preference Share Capital 1,00,000 1,00,000 - No Change

ii. Reserve and Surplus

1,10,000

1,20,000

10,000

Increase

 Shareholders’ Fund

6,10,000

6,20,000

10,000

 

2. Non-Current Liabilities

 

 

 

 

a. Long-term Borrowings

 

 

 

 

Bank Loan

4,50,000

3,50,000

1,00,000

Decrease

8% Debentures

-

1,00,000

1,00,000

Increase

          b. Long-Term Provision 1,00,000 50,000 50,000 Decrease

3. Current Liabilities

 

 

 

 

         a. Trade Payables 3,30,000 5,30,000 2,00,000 Increase

         b. Short-Term Provisions

50,000

50,000

-

No Change

Total

15,40,000

17,00,000

1,60,000

 

 

 

 

 

 

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

10,40,000

9,90,000

50,000

Decrease

          b. Non-Current Investments 1,00,000 1,00,000 - No Change

2. Current Assets

 

 

 

 

b. Trade Receivables

3,00,000

5,00,000

2,00,000

Increase

c. Cash and Cash Equivalents

1,00,000

1,10,000

10,000

Increase

Total

15,40,000

17,00,000

1,60,000

 

 

 

 

 

 

Answer:

In the books of Royal Industries Ltd.

Comparative Balance Sheet

as at March 31, 2017 and 2018

Particulars

2017

(Rs)

2018

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Equity Share Capital

5,00,000

10,00,000

5,00,000

100.00

b. Reserve and Surplus

1,00,000

1,00,000

Shareholders’ Fund

6,00,000

11,00,000

5,00,000

83.33

2. Non-Current Liabilities

 

 

 

 

a. Long-term Borrowings

3,00,000

2,00,000

(1,00,000)

(33.33)

3. Current Liabilities

 

 

 

 

a. Trade Payables

1,00,000

2,00,000

1,00,000

100.00

Total

10,00,000

15,00,000

5,00,000

50.00

         

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

4,00,000

8,00,000

4,00,000

100.00

         b. Intangible Assets 2,00,000 2,00,000 - -
         c. Non-Current Investments 2,00,000 2,00,000 - -

2. Current Assets

 

 

 

 

a. Inventories

1,50,000

2,50,000

1,00,000

66.67

b. Cash and Cash Equivalents
50,000 50,000    

 

2,00,000
3,00,000
1,00,000
50.00

Total

10,00,000

15,00,000

5,00,000

50.00

 

 

 

 

 

Page No 3.33:

Question 6:

In the books of Royal Industries Ltd.

Comparative Balance Sheet

as at March 31, 2017 and 2018

Particulars

2017

(Rs)

2018

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Equity and Liabilities

 

 

 

 

1. Shareholders’ Funds

 

 

 

 

a. Equity Share Capital

5,00,000

10,00,000

5,00,000

100.00

b. Reserve and Surplus

1,00,000

1,00,000

Shareholders’ Fund

6,00,000

11,00,000

5,00,000

83.33

2. Non-Current Liabilities

 

 

 

 

a. Long-term Borrowings

3,00,000

2,00,000

(1,00,000)

(33.33)

3. Current Liabilities

 

 

 

 

a. Trade Payables

1,00,000

2,00,000

1,00,000

100.00

Total

10,00,000

15,00,000

5,00,000

50.00

         

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets (Tangible)

4,00,000

8,00,000

4,00,000

100.00

         b. Intangible Assets 2,00,000 2,00,000 - -
         c. Non-Current Investments 2,00,000 2,00,000 - -

2. Current Assets

 

 

 

 

a. Inventories

1,50,000

2,50,000

1,00,000

66.67

b. Cash and Cash Equivalents
50,000 50,000    

 

2,00,000
3,00,000
1,00,000
50.00

Total

10,00,000

15,00,000

5,00,000

50.00

 

 

 

 

 

Answer:

Comparative Balance Sheet

as at March 31, 2017  and March 31, 2018

Particulars

2018
(Rs)

2017
(Rs)

Absolute
Change
(Rs)

Percentage
Change
(%)

I. Equity and Liabilities

       

1. Shareholders’ Funds

       

a. Share Capital

       

1. Equity Share Capital

12,50,000

5,00,000

7,50,000

150.00

2. Preference Share Capital

2,50,000

2,50,000

Total

15,00,000

7,50,000

7,50,000

100.00

b. Reserve and Surplus

3,00,000

4,50,000

(1,50,000)

(33.33)

 

18,00,000

12,00,000

6,00,000

50.00

2. Non-Current Liabilities

       

a. Long-term Borrowings

       

12% Secured Debentures

9,50,000

5,50,000

4,00,000

72.73

12% Unsecured Debentures

2,50,000

2,00,000

50,000

25.00

 

12,00,000

7,50,000

4,50,000

60.00

3. Current Liabilities

       

a. Short-Term Borrowings

3,50,000

1,75,000

1,75,000

100.0

b. Trade Payables

2,00,000

1,00,000

1,00,000

100.00

c. Short-Term Provisions

50,000

25,000

25,000

100.00

Total

36,00,000

22,50,000

13,50,000

60.00

II. Assets

       

1. Non-Current Assets

       

a. Fixed Assets (Tangible)

22,50,000

15,00,000

7,50,000

50.00

2. Current Assets

       

a. Inventories

4,50,000

2,50,000

2,00,000

80.00

b. Trade Receivables

8,00,000

4,50,000

3,50,000

77.78

c. Cash and Cash Equivalents

1,00,000

50,000

50,000

100.00

Total

36,00,000

22,50,000

13,50,000

60.00

 

 

 

 

 



Page No 3.34:

Question 7:

Comparative Balance Sheet

as at March 31, 2017  and March 31, 2018

Particulars

2018
(Rs)

2017
(Rs)

Absolute
Change
(Rs)

Percentage
Change
(%)

I. Equity and Liabilities

       

1. Shareholders’ Funds

       

a. Share Capital

       

1. Equity Share Capital

12,50,000

5,00,000

7,50,000

150.00

2. Preference Share Capital

2,50,000

2,50,000

Total

15,00,000

7,50,000

7,50,000

100.00

b. Reserve and Surplus

3,00,000

4,50,000

(1,50,000)

(33.33)

 

18,00,000

12,00,000

6,00,000

50.00

2. Non-Current Liabilities

       

a. Long-term Borrowings

       

12% Secured Debentures

9,50,000

5,50,000

4,00,000

72.73

12% Unsecured Debentures

2,50,000

2,00,000

50,000

25.00

 

12,00,000

7,50,000

4,50,000

60.00

3. Current Liabilities

       

a. Short-Term Borrowings

3,50,000

1,75,000

1,75,000

100.0

b. Trade Payables

2,00,000

1,00,000

1,00,000

100.00

c. Short-Term Provisions

50,000

25,000

25,000

100.00

Total

36,00,000

22,50,000

13,50,000

60.00

II. Assets

       

1. Non-Current Assets

       

a. Fixed Assets (Tangible)

22,50,000

15,00,000

7,50,000

50.00

2. Current Assets

       

a. Inventories

4,50,000

2,50,000

2,00,000

80.00

b. Trade Receivables

8,00,000

4,50,000

3,50,000

77.78

c. Cash and Cash Equivalents

1,00,000

50,000

50,000

100.00

Total

36,00,000

22,50,000

13,50,000

60.00

 

 

 

 

 

Answer:

Comparative Balance Sheet of Depth Ltd.
as at March 31, 2017  and March 31, 2018
Particulars
2018
(Rs)
2017
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Equity and Liabilities
       
1. Shareholders’ Funds
       
a. Share Capital
2,80,000
1,80,000
1,00,000
55.56
b. Reserve and Surplus
1,00,000
1,00,000
Total
3,80,000
2,80,000
1,00,000
35.71
2. Non-Current Liabilities
       
Long-term Borrowings
80,000
20,000
60,000
300.00
3. Current Liabilities
       
Trade Payables
50,000
30,000
20,000
66.67
Total
5,10,000
3,30,000
1,80,000
54.55
II. Assets
       
1. Non-Current Assets
       
a. Fixed Assets
       
i. Tangible Assets
2,80,000
1,80,000
1,00,000
55.56
ii. Intangible Assets
50,000
30,000
20,000
66.67
 b. Non-Current Investments
80,000
50,000
30,000
60.00
Total
4,10,000
2,60,000
1,50,000
57.69
2. Current Assets
       
a. Inventories
70,000
30,000
40,000
133.33
b. Cash and Cash Equivalents  
30,000
40,000
(10,000)
(25.00)
 
1,00,000
70,000
30,000
42.86
Total
5,10,000
3,30,000
1,80,000
54.55
 
 
 
 
 

Page No 3.34:

Question 8:

Following information is extracted from the Statement of Profit and Loss of Gold Coin Ltd. for the year ended 31st March, 2015:
 

Particulars

31st March,

2015

31st March, 2014

Revenue from Operations

₹ 60,00,000

₹ 45,00,000

Employee Benefit Expenses

₹ 30,00,000

₹ 22,50,000

Depreciation

₹ 7,50,000

₹ 6,00,000

Other Expenses

₹ 15,50,000

₹ 10,00,000

Tax Rate

30%

30%

Answer:

Comparative Income Statement

for the year ended March 31, 2014 and 2015

Particulars

2014

(Rs)

2015

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

45,00,000

60,00,000

15,00,000

33.33

II. Expenses

 

 

 

 

a. Depreciation

6,00,000

7,50,000

1,50,000

25.0

b. Employees Benefit Expenses

22,50,000

30,00,000

7,50,000

33.33

c. Other Expenses

10,00,000

15,50,000

5,50,000

55.0

     

38,50,000

53,00,000

14,50,000

37.66

Profit before Income Tax

6,50,000

7,00,000

50,000

7.69

Less: Income Tax

1,95,000

2,10,000

15,000

7.69

Profit after Income Tax

4,55,000

4,90,000

35,000

7.69

 

 

 

 

 



Page No 3.35:

Question 9:

Comparative Income Statement

for the year ended March 31, 2014 and 2015

Particulars

2014

(Rs)

2015

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

45,00,000

60,00,000

15,00,000

33.33

II. Expenses

 

 

 

 

a. Depreciation

6,00,000

7,50,000

1,50,000

25.0

b. Employees Benefit Expenses

22,50,000

30,00,000

7,50,000

33.33

c. Other Expenses

10,00,000

15,50,000

5,50,000

55.0

     

38,50,000

53,00,000

14,50,000

37.66

Profit before Income Tax

6,50,000

7,00,000

50,000

7.69

Less: Income Tax

1,95,000

2,10,000

15,000

7.69

Profit after Income Tax

4,55,000

4,90,000

35,000

7.69

 

 

 

 

 

Answer:

Comparative Income Statement

for the year ended March 31, 2017 and 2018

Particulars

2017

2018

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

3,00,000

3,50,000

50,000

16.67

II. Expenses

 

 

 

 

a. Purchase of Stock-in-Trade

1,80,000

2,10,000

30,000

16.67

b. Changes in Inventories of Stock-in-Trade

20,000

15,000

(5,000)

(25.00)

c. Employees Benefit cost

15,000

17,500

2,500

16.67

d. Other Expenses

5,000

7,500

2,500

50.00

 

2,20,000

2,50,000

30,000

13.67

Profit before Income Tax (I-II) 80,000 1,00,000 20,000 25.00

Less: Income Tax

24,000

30,000

6,000

25.00

Profit after Income Tax

56,000

70,000

14,000

25.00

 

 

 

 

 

Page No 3.35:

Question 10:

Comparative Income Statement

for the year ended March 31, 2017 and 2018

Particulars

2017

2018

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

3,00,000

3,50,000

50,000

16.67

II. Expenses

 

 

 

 

a. Purchase of Stock-in-Trade

1,80,000

2,10,000

30,000

16.67

b. Changes in Inventories of Stock-in-Trade

20,000

15,000

(5,000)

(25.00)

c. Employees Benefit cost

15,000

17,500

2,500

16.67

d. Other Expenses

5,000

7,500

2,500

50.00

 

2,20,000

2,50,000

30,000

13.67

Profit before Income Tax (I-II) 80,000 1,00,000 20,000 25.00

Less: Income Tax

24,000

30,000

6,000

25.00

Profit after Income Tax

56,000

70,000

14,000

25.00

 

 

 

 

 

Answer:

Comparative Income Statement

for the year ended March 31, 2017 and 2018

Particulars

2017

(Rs)

2018

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

2,50,000

3,00,000

50,000

20.00

II. Expenses:

 

 

 

 

a. Cost of Materials Consumed

1,00,000

1,20,000

20,000

20.00

b. Changes in Inventories of WIP and Finished Goods

5,000

(2,000)

(7,000)

(140.00)

c. Employees Benefit Expenses (Wages)

25,000

30,000

5,000

20.00

d. Other Expenses

20,000

22,000

2,000

10.00

 

1,50,000

1,70,000

20,000

13.33

Profit before Income Tax (I-II) 1,00,000 1,30,000 30,000 30.00

Less: Income Tax

Profit after Income Tax

1,00,000

1,30,000

30,000

30.00

 

 

 

 

 



Page No 3.36:

Question 11:

Comparative Income Statement

for the year ended March 31, 2017 and 2018

Particulars

2017

(Rs)

2018

(Rs)

Absolute

Change

(Rs)

Percentage

Change

(%)

I. Revenue from Operations

2,50,000

3,00,000

50,000

20.00

II. Expenses:

 

 

 

 

a. Cost of Materials Consumed

1,00,000

1,20,000

20,000

20.00

b. Changes in Inventories of WIP and Finished Goods

5,000

(2,000)

(7,000)

(140.00)

c. Employees Benefit Expenses (Wages)

25,000

30,000

5,000

20.00

d. Other Expenses

20,000

22,000

2,000

10.00

 

1,50,000

1,70,000

20,000

13.33

Profit before Income Tax (I-II) 1,00,000 1,30,000 30,000 30.00

Less: Income Tax

Profit after Income Tax

1,00,000

1,30,000

30,000

30.00

 

 

 

 

 

Answer:

Comparative Income Statement
for the year ended March 31, 2017 and 2018
Particulars
March 31, 2017
(Rs)
March 31, 2018
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Revenue from operations
20,00,000
30,00,000
10,00,000
50.00
II. Other Income
4,00,000
3,60,000
(40,000)
(10.00)
III. Total Revenue (I + II)
24,00,000
33,60,000
9,60,000
40.00
IV. Expenses
12,00,000
21,00,000
9,00,000
75.00
Profit before Income Tax
12,00,000
12,60,000
60,000
5.00
Less: Income Tax @ 40%
4,80,000
5,04,000
24,000
5.00
Profit after Income Tax
7,20,000
7,56,000
36,000
5.00
 
 
 
 
 
 
Working Notes:
 
WN1 Computation of Other Income
 
Particulars
2017
(Rs)
2018
(Rs)
Revenue From Operations
20,00,000
30,00,000
% of Revenue From Operations
20%
12%
Other Income
4,00,000
3,60,000
 
WN1 Computation of Expenses
 
Particulars
2017
(Rs)
2018
(Rs)
Revenue From Operations
20,00,000
30,00,000
% of Revenue From Operations
60%
70%
Expenses
12,00,000
21,00,000

Page No 3.36:

Question 12:

Comparative Income Statement
for the year ended March 31, 2017 and 2018
Particulars
March 31, 2017
(Rs)
March 31, 2018
(Rs)
Absolute
Change
(Rs)
Percentage
Change
(%)
I. Revenue from operations
20,00,000
30,00,000
10,00,000
50.00
II. Other Income
4,00,000
3,60,000
(40,000)
(10.00)
III. Total Revenue (I + II)
24,00,000
33,60,000