The Question : From the following details provided by Kumud Ltd., prepare Comparative Statement of Profit & Loss for the year ended 31st March 2021:
Solution for the question :
COMPARATIVE STATEMENT PROFIT AND LOSS FOR THE YEAR ENDED 31st March, 2021Particulars Not e No.31.03.20 (₹)31.03.21 (₹)Absolute Change (Increase/ Decrease) Percentage Change (Increase/ Decrease) %(A) (B) (C= B-A)(D=C/A x 100)1.Revenue from operations30,00,00035,00,0005,00,00016.672.Other Income3,00,0004,50,0001,50,00050.003. Total Revenue33,00,00039,50,0006,50,000 19.694. Expenses a) Cost of materials Consumed20,00,00023,00,0003,00,00015.00b) Other Expenses 1,00,000 1,20,00020,00020.00Total Expenses21,00,00024,20,0003,20,00015.24Profit Before Tax12,00,00015,30,0003,30,00027.50 Less: Tax @40%4,80,0006,12,0001,32,000 27.50 Profit After Tax7,20,0009,18,000 1,98,000 27.50
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