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Page No 3.30:

Question 1:

From the following Balance Sheet, prepare Comparative Balance Sheet of Sun Ltd.:

 

Particulars Note
No.
31st March, 2019
(₹)
31st March, 2018
(₹)
I. EQUITY AND LIABILITIES
1. Shareholder's Funds
     
(a) Share Capital
  3,50,000 3,00,000
2. Non-Current Liabilities
     
Long-term Borrowings
  1,00,000 2,00,000
3. Current Liabilities :
     
Trade Payables
  1,50,000 1,00,000
Total   6,00,000 6,00,000

II. ASSETS

     
1. Non-Current Assets
     
Fixed Assets (Tangible)
  4,00,000 3,00,000
2. Current Assets
     
Trade Receivables
 

2,00,000

3,00,000

Total  

6,00,000

6,00,000

       

Answer:

In the books of Sun Ltd.
Comparative Balance Sheet
as at March 31, 2018 and 2019
Particulars
2018
(₹)
2019
(₹)
Absolute
Change
(₹)
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:

Following is the Balance Sheet of Radha Ltd. as at 31st March, 2019:

 

Particulars

Note No.

31st March, 2019,

(₹)

31st March, 2018,

(₹)

I. EQUITY AND LIABILITIES

1. Shareholders' Funds

     

(a) Share Capital

 

15,00,000

10,00,000

(b) Reserves and Surplus
  10,00,000 10,00,000

2. Non-Current Liabilities

     

Long-term Borrowings

 

8,00,000

2,00,000

3. Current Liabilities

     

(a) Trade Payables

 

5,00,000

3,00,000

Total
 

38,00,000

25,00,000

II. ASSETS

     

1. Non-Current Assets

     

Fixed Assets:

     

(i) Tangible Assets

 

25,00,000

15,00,000

(ii) Intangible Assets
  5,00,000 5,00,000

2. Current Assets 

     

(a) Trade Receivables

 

6,00,000

3,50,000

(b) Cash and Cash Equivalents

 

2,00,000

1,50,000

Total

 

38,00,000

25,00,000

       

You are required to prepare Comparative  Balance Sheet on the basis of the information given in the above Balance Sheet.

Answer:

In the books of Radha Ltd.
Comparative Balance Sheet
as at March 31, 2018 and 2019
Particulars
2018
(₹)
2019
(₹)
Absolute
Change
(₹)
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:

Balance Sheet of Blue Bell Ltd. as at 31st March, 2019 is given below:
 

BALANCE SHEET
as at 31st March, 2019

Particulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. EQUITY AND LIABILITIES

1. Shareholder's Funds

     

(a) Share Capital

 

3,26,000

2,44,000

(b) Reserves and Surplus

 

1,00,000

1,00,000

2. Non-Current Liabilities

     

Long-term Borrowings

 

6,96,000

4,38,000

3. Current Liabilities

     

Trade Payables

 

2,98,000

78,000

Total  

14,20,000

8,60,000

II. ASSETS

     

1. Non-Current Assets

     

(a) Fixed Assets

  5,68,000 4,30,000

(b) Non-Current Investments

 

6,000

4,000

2. Current Assets

     

(a) Trade Receivables

 

6,46,000

3,76,000

(b) Cash and Cash Equivalents

 

2,00,000

50,000

Total

 

14,20,000

8,60,000

       

Prepare Comparative Balance Sheet showing percentage changes from 2018 to 2019.

Answer:

In the books of Blue Bell Ltd.
Comparative Balance Sheet
as at March 31, 2018 and 2019
Particulars
2018
(₹)
2019
(₹)
Absolute
Change
(₹)
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:

Following is the summarised Balance Sheet of Wye Ltd. as at 31st March, 2019:
 

Particulars ulars

Note No.

31st March,
2019

(₹)

31st March,
2018

(₹)

I. EQUITY AND LIABILITIES      
1. Shareholders' Funds
 

 

 
(a) Share Capital:

 

 

 
(i) Equity Share Capital
 

4,00,000

4,00,000
(ii) Preference Share Capital
  1,00,000 1,00,000
(b) Reserves and Surplus
  1,20,000 1,10,000
2. Non-Current Liabilities
     
(a) Long-term Borrowings
1. 4,50,000 4,50,000
(b) Long-term Provisions
  50,000 1,00,000
3. Current Liabilities
     
(a) Trade Payables (Creditors)
  5,30,000 3,30,000
(b) Short-term Provisions

 

50,000

50,000
Total      Total Expenses
 

17,00,000

15,40,000
II. ASSETS  

 

 
1. Non-Current Assets
     
(a) Fixed Assets (Tangible)
  9,90,000 10,40,000
(b) Non-Current Investments
  1,00,000 1,00,000
2. Current Assets
     
(a) Trade Receivables
  5,00,000 3,00,000
(b) Cash and Cash Equivalents
2

1,10,000

1,00,000
Total
 

17,00,000

15,40,000
       

Notes to Accounts

Particulars

31st March,
2019

(₹)

31st March,
2018

(₹)

I. Long-term Borrowings    
Bank Loan

3,50,000

4,50,000
8% Debentures

1,00,000

...
 

4,50,000

4,50,000
2. Cash and Cash Equivalents    
Bank Balance

1,00,000

90,000
Cash in Hand

10,000

10,000
 

1,10,000

1,00,000
     

You are required to comment upon the changes in absolute figures from one period to another.

Answer:

In the books of Wye Ltd.

Comparative Balance Sheet

as at March 31, 2018 and 2019

Particulars

2018

(₹)

2019

(₹)

Absolute

Change

(₹)

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:

From the Following Balance Sheet of Royal Industries Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:
 

Particulars

Note No.

31st March,

2019 (₹)

31st March,

2018 (₹)

I. EQUITY AND LIABILITIES

1. Shareholder's Funds

     

(a) Share Capital

     

Equity Share Capital

 

10,00,000

5,00,000

(b) Reserves and Surplus

 

1,00,000

1,00,000

       

2. Non-Current Liabilities

     

Long-term Borrowings

 

2,00,000

3,00,000

       

3. Current Liabilities

     

Trade Payables

 

2,00,000

1,00,000

       

Total

 

15,00,000

10,00,000

       
II. ASSETS      

1. Non-Current Assets

     

(a) Fixed Assets:

     

(i) Tangible Assets

 

8,00,000

4,00,000

(ii) Intangible Assets

 

2,00,000

2,00,000

(b) Non-Current Investments

 

2,00,000

2,00,000

       

2. Current Assets

     

(a) Inventories

 

2,50,000

1,50,000

(b) Cash and Cash Equivalents

 

50,000

50,000

Total

 

15,00,000

10,00,000

       

Answer:

In the books of Royal Industries Ltd.

Comparative Balance Sheet

as at March 31, 2018 and 2019

Particulars

2018

(₹)

2019

(₹)

Absolute

Change

(₹)

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:

From the following Balance Sheet of Depth Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:
 

Particulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. EQUITY AND LIABILITIES

     

1. Shareholders' Funds

     

(a) Share Capital

 

2,80,000

1,80,000

(b) Reserves and Surplus

 

1,00,000

1,00,000

2. Non-Current Liabilities

     

Long-term Borrowings

 

80,000

20,000

3. Current Liabilities

     

Trade Payables

 

50,000

30,000

Total

 

5,10,000

3,30,000

II. ASSETS

     

1. Non-Current Assets

     

(a) Fixed Assets:

     

(i) Tangible Assets

 

2,80,000

1,80,000

(ii) Intangible Assets

 

50,000

30,000

(b) Non-Current Investments

 

80,000

50,000

2. Current Assets

     

(a) Inventories

 

70,000

30,000

(b) Cash and Cash Equivalents

 

30,000

40,000

Total

 

5,10,000

3,30,000

       

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 7:

From the following Balance Sheet of H.P. Ltd. as at 31st March, 2019, prepare Comparative Balance Sheet:
 

Particulars

Note No.

31st March,

2019

(₹)

31st March,

2018

(₹)

I. EQUITY AND LIABILITIES

     

1. Shareholders' Funds

     

(a) Share Capital:

     

(i) Equity Share Capital

 

12,50,000

5,00,000

(ii) Preference Share Capital

 

2,50,000

2,50,000

(b) Reserves and Surplus

 

3,00,000

4,50,000

2. Non-Current Liabilities

     

Long-term Borrowings: 12% Debentures

 

9,50,000

5,50,000

Loan from Directors

 

2,50,000

2,00,000

3. Current Liabilities

     

(a)Short-term Borrowings

 

3,50,000

1,75,000

(b) Trade Payables

 

2,00,000

1,00,000

(c) Short-term Provisions

 

50,000

25,000

Total

 

36,00,000

22,50,000

II. ASSETS

     

1. Non-Current Assets

     

(a) Fixed Assets (Tangible)

 

22,50,000

15,00,000

2. Current Assets

     

(a) Inventories

 

4,50,000

2,50,000

(b) Trade Receivables

 

8,00,000

4,50,000

(c) Cash and Cash Equivalents

 

1,00,000

50,000

Total

 

36,00,000

22,50,000

       

Answer:

Comparative Balance Sheet of H.P. Ltd.

as at March 31, 2018  and March 31, 2019

Particulars

2018
(₹)

2019
(₹)

Absolute
Change
(₹)

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 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:

Prepare Comparative Statement of Profit and Loss from the following Statement of Profit and Loss:
 

Particulars ulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

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 Benefits 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. Less: Tax
 

30,000

24,000
V. Profit after Tax (III-IV)
 

70,000

56,000
       

Answer:

Comparative Income Statement

for the year ended March 31, 2018 and 2019

Particulars

2018
(₹)

2019
(₹)

Absolute

Change

(₹)

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:

Prepare Comparative Statement of Profit and Loss from the following Statement of Profit and Loss:
 

Particulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. Income

     

Revenue from Operations (Net Sales)

 

3,00,000

2,50,000

II. Expenses

     

Cost of Materials Consumed

 

1,20,000

1,00,000

Changes in Inventories of WIP and Finished Goods

 

(2,000)

5,000

Employees Benefits Expenses (Wages)

 

30,000

25,000

Other Expenses

 

22,000

20,000

Total

 

1,70,000

1,50,000

III. Net Profit (I-II)

 

1,30,000

1,00,000

Answer:

Comparative Income Statement

for the year ended March 31, 2018 and 2019

Particulars

2018

(₹)

2019

(₹)

Absolute

Change

(₹)

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:

From the following Information, prepare Comparative Statement of Profit and Loss:
 

Particulars

31st March, 2019

31st March, 2018

Revenue from Operations

₹ 30,00,000

₹ 20,00,000

Other Income (% of Revenue from Operations)

12%

20%

Expenses (% of Operating Revenue)

70%

60%

Tax Rate

40%

40%

Answer:

Comparative Income Statement
for the year ended March 31, 2018 and 2019
Particulars
March 31, 2018
(₹)
March 31, 2019
(₹)
Absolute
Change
(₹)
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
2018
(₹)
2019
(₹)
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
2018
(₹)
2019
(₹)
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:

From the following information, prepare Comparative Statement of Profit and Loss showing increase, decrease and percentage:

 

 

 

Particulars 31st March, 2019

31st March, 2018

Cost of Materials Consumed ₹ 13,44,000

₹ 6,00,000

Revenue from Operations (% of Materials Consumed) 125%

200%

Other Expenses (% of Operating Revenue) 10% 10%
Tax Rate 50% 50%

Answer:

Comparative Income Statement
for the year ended 31st March, 2018 and 2019
Particulars
March 31, 2018
(₹)
March 31, 2019
(₹)
Absolute
Change
(₹)
Percentage
Change
(%)
I. Revenue from Operations (WN1)
12,00,000
16,80,000
4,80,000
40.00
II. Expenses
 
 
 
 
a. Cost of Material Consumed
6,00,000
13,44,000
7,44,000
124.00
b. Other Expenses (WN2)
1,20,000
1,68,000
48,000
40.00
 
7,20,000
15,12,000
7,92,000
110.00
         
Profit before Income Tax (I-II) 4,80,000 1,68,000 (3,12,000) (65.00)
Less: Income Tax @ 50%
2,40,000
84,000
(1,56,000)
(65.00)
Profit after Income Tax
2,40,000
84,000
1,56,000
(65.00)
 
 
 
 
 

Working Notes:
 
WN1 Computation of Revenue from Operations
 
Particulars
2018
(₹)
2019
(₹)
Cost of Materials Consumed
6,00,000
13,44,000
% of Materials Consumed
200%
125%
Revenue from Operations
12,00,000
16,80,000
 
WN2 Computation of Other Expenses
 
Particulars
2018
(₹)
2019
(₹)
Revenue From Operations
12,00,000
16,80,000
% of Operating Revenue
10%
10%
Other Expenses
1,20,000
1,68,000

Page No 3.36:

Question 13:

From the following Statement of Profit and Loss, prepare Comparative Statement of Profit and Loss:
 

Particulars ulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. Income      
Revenue from Operations (Net Sales)      Total Expenses
 

50,00,000

40,00,000
II. Expenses  

 

 
Purchases of Stock-in-Trade
  34,00,000 28,50,000
Change in Inventories of Stock-in-Trade
1 1,00,000 1,50,000
Employees Benefits Expenses
  1,00,000 1,00,000
Other Expenses
2

2,00,000

1,50,000
Total
 

38,00,000

32,50,000
III. Net Profit (I-II)   12,00,000 7,50,000

Notes to Accounts

Particulars

31st March, 2019

(₹)

31st March, 2018

(₹)

I. Change in Inventory of stock-in-Trade    
Opening Inventory

2,00,000

3,50,000
Less: Closing Inventory

1,00,000

2,00,000
 

1,00,000

1,50,000
2. Other Expenses    
Administrative Expenses

50,000

50,000
Selling and Distribution Expenses

1,50,000

1,00,000
 

2,00,000

1,50,000
     

Answer:

Comparative Income Statement

for the year ended March 31, 2018 and 2019

Particulars

2018

(₹)

2019

(₹)

Absolute

Change

(₹)

Percentage

Change

(%)

I. Revenue from Operations

40,00,000

50,00,000

10,00,000

25.00

II. Expenses:

 

 

 

 

a. Purchases of Stock-in-Trade

28,50,000

34,00,000

5,50,000

19.30

b. Changes in Inventories of Stock-in-Trade

1,50,000

1,00,000

(50,000)

(33.33)

c. Employees Benefit Expenses

1,00,000

1,00,000

d. Other Expenses

1,50,000

2,00,000

50,000

33.33

 

32,50,000

38,00,000

5,50,000

16.92


Profit before Income Tax (I-II)

7,50,000

12,00,000

4,50,000

60.00

Less: Income Tax

Profit after Income Tax

7,50,000

12,00,000

4,50,000

60.00

 

 

 

 

 



Page No 3.37:

Question 14:

Prepare Comparative Statement of Profit and Loss from the following information:
 

Particulars 31st March,
2019
31st March, 2018
Revenue from Operations ₹ 37,50,000

₹ 25,00,000

Other Income ₹ 4,50,000

₹ 5,00,000

Cost of Materials Consumed ₹ 22,50,000 ₹ 12,50,000
Other Expenses ₹ 3,75,000 ₹ 2,50,000
Tax Rate 50% 50%

Answer:

Comparative Income Statement

for the year ended March 31, 2018 and 2019

Particulars

March 31, 2018

(₹)

March 31, 2019

(₹)

Absolute

Change

(₹)

Percentage

Change

(%)

I. Revenue from operations

25,00,000

37,50,000

12,50,000

50.00

II. Other Income

5,00,000

4,50,000

(50,000)

(10.00)

III. Total Revenue (I + II)

30,00,000

42,00,000

12,00,000

40.00

IV. Expenses

 

 

 

 

a. Cost of Materials Consumed

12,50,000

22,50,000

10,00,000

80.00

b. Other Expenses

2,50,000

3,75,000

1,25,000

50.00

  15,00,000 26,25,000 11,25,000 75.00
         

Profit before Income Tax

15,00,000

15,75,000

75,000

5.00

Less: Income Tax @ 50%

7,50,000

7,87,500

37,500

5.00

Profit after Income Tax

7,50,000

7,87,500

37,500

5.00

 

 

 

 

 

Page No 3.37:

Question 15:

From the following Statement of Profit and Loss of Antriksh Ltd. for the year ended 31st March, 2012 and 2013, â€‹â€‹Prepare Comparative Statement of Profit and Loss:

 

 

 

Particulars Note No. 31st March,
2013 (₹)

31st March,
2012, (₹)

Revenue from Operations   14,00,000 8,00,000
Other Incomes   6,00,000
4,00,000
Expenses
  17,00,000
11,00,000

Rate of Income Tax was 40%.

Answer:

Comparative Income Statement

for the year ending March 31, 2012 and 2013

 

Particulars

Note

 No.

2012

(Rs)

2013

(Rs)

Absolute 

Change 

(Rs)

Percentage

Change 

1. Revenue from Operations

 

8,00,000

14,00,000

6,00,000

75

2. Other Income

 

4,00,000

6,00,000

2,00,000

50

3. Total Revenue (1 + 2)

 

12,00,000

20,00,000

8,00,000

66.67

4. Expenses

 

 

 

 

 

    a. Other Expenses
 
11,00,000
17,00,000
6,00,000
54.55

 Total Expenses

 

11,00,000

17,00,000

6,00,000

54.55

5. Profit before Tax ( 3- 4)

 

1,00,000

3,00,000

2,00,000

200

     Less: Income Tax (40%)

 

40,000

1,20,000

80,000

200

6. Profit After Tax

 

60,000

1,80,000

1,20,000

200

 

 

 

 

 

 

Page No 3.37:

Question 16:

From the following Statement of Profit and Loss, prepare Comparative Statement of Profit and Loss:
 

Particulars ulars

Note No.

31st March, 2019

(₹)

31st March, 2018

(₹)

I. Income      
Revenue from Operations (Net Sales)
  20,00,000 17,50,000
Other Income
 

75,000

50,000
Total
  20,75,000 18,00,000
II. Expenses  

 

 
Purchases of Stock-in-Trade
  11,60,000 10,00,000
Change in Inventories of Stock-in-Trade
  10,000 (25,000)
Employees Benefits Expenses
1 3,00,000 3,00,000
Depreciation and Amortisation Expenses
  50,000 50,000
Other Expenses
2

90,000

75,000
Total
 

16,10,000

14,00,000
III. Net Profit (I-II)   4,65,000 4,00,000

Notes to Accounts

Particulars

31st March, 2019

(₹)

31st March, 2018

(₹)

I. Employees Benefit Expenses    
Wages

3,00,000

3,00,000
2. Other Expenses    
Administrative and General Expenses

70,000

50,000
Miscellaneous Expenses

20,000

25,000
 

90,000

75,000
     

Answer:

Comparative Income Statement

for the year ended March 31, 2018 and 2019

Particulars

March 31, 2018

(₹)

March 31, 2019

(₹)

Absolute

Change

(₹)

Percentage

Change

(%)

I. Revenue from Operations

17,50,000

20,00,000

2,50,000

14.29

II. Other Income

50,000

75,000

25,000

50.00

III. Total Revenue (I + II)

18,00,000

20,75,000

2,75,000

15.28

IV. Expenses

 

 

 

 

a. Purchases of Stock-in-Trade

10,00,000

11,60,000

1,60,000

16.00

b. Changes in Inventory of Stock-in-Trade

(25,000)

10,000

35,000

140.00

c. Employee Benefit Expenses

3,00,000

3,00,000

d. Depreciation

50,000

50,000

e. Other Expenses

75,000

90,000

15,000

20.00

  14,00,000 16,10,000 2,10,000 15.00

Profit before Income Tax

4,00,000

4,65,000

65,000

16.25

Less: Income Tax

Profit after Income Tax

4,00,000

4,65,000

65,000

16.25

 

 

 

 

 



Page No 3.38:

Question 17:

From the following Statement of Profit and Loss of Star Ltd., for the year ended 31st March, 2015 and 2016, prepare a Common-size statement:

 

 

 

Particulars Note No. 2015-16
2014-15
Revenue from Operations   ₹ 25,00,000 ₹ 20,00,000
Employee Benefit Expenses   ₹ 10,00,000 ₹ 7,00,000
Other Expenses   ₹ 2,00,000 ₹ 3,00,000
Tax Rate
  40%
40%

Answer:

Common Size Statement of Profit and Loss
for the year ended March 31, 2015 and 2016 
Particulars
Absolute Amount
Percentage of Revenue from Operations
2014-15
(Rs)
2015-16
(Rs)
2014-15
(%)
2015-16
(%)