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Accountancy · 2022 · 3 marks
CBSE 2022 · Region 2 · Set 2 · Q11
From the following information of Ajay Ltd., prepare a Comparative Statement of Profit and Loss for the year ended 31st March, 2022: 2021 22 2020 21…
From the following information of Ajay Ltd., prepare a Comparative Statement of Profit and Loss for the year ended 31st March, $\displaystyle 2022$ : $\displaystyle 2021$ $\displaystyle 22$ $\displaystyle 2020$ $\displaystyle 21$ Particulars < < Revenue from Operations $\displaystyle 7,00,000$ $\displaystyle 4,00,000$ Other Income $\displaystyle 3,00,000$ $\displaystyle 1,00,000$ Expenses $\displaystyle 1,00,000$ $\displaystyle 1,00,000$ Tax Rate $\displaystyle 50$%
From the following information of Sneha Ltd., prepare a Common Size Statement of Profit and Loss for the year ended 31st March, $\displaystyle 2022$ : $\displaystyle 2021$ $\displaystyle 22$ $\displaystyle 2020$ $\displaystyle 21$ Particulars < < Revenue from Operations $\displaystyle 20,00,000$ $\displaystyle 10,00,000$ Employee Benefit Expenses $\displaystyle 8,00,000$ $\displaystyle 4,00,000$ Other Expenses $\displaystyle 2,00,000$ $\displaystyle 1,00,000$ Tax Rate $\displaystyle 50$%
Marking-scheme solution
Comparative statement of Profit & Loss for years ended
31st March, $\displaystyle 2021$ and 31st March, $\displaystyle 2022$
$\displaystyle 2020$–$\displaystyle 21$ $\displaystyle 2021$–$\displaystyle 22$ Absolute % Change
Particulars
(₹) (₹) Change(₹)
Revenue from operations $\displaystyle 4,00,000$ $\displaystyle 7,00,000$ $\displaystyle 3,00,000$ $\displaystyle 75$
Add other income $\displaystyle 1,00,000$ $\displaystyle 3,00,000$ $\displaystyle 2,00,000$ $\displaystyle 200$
Total Revenue $\displaystyle 5,00,000$ $\displaystyle 10,00,000$ $\displaystyle 5,00,000$ $\displaystyle 100$
Less expenses $\displaystyle 1,00,000$ $\displaystyle 1,00,000$ — —
Profit before Tax $\displaystyle 4,00,000$ $\displaystyle 9,00,000$ $\displaystyle 5,00,000$ $\displaystyle 125$
Less Tax @ $\displaystyle 50$% $\displaystyle 2,00,000$ $\displaystyle 4,50,000$ $\displaystyle 2,50,000$ $\displaystyle 125$
Profit after Tax $\displaystyle 2,00,000$ $\displaystyle 4,50,000$ $\displaystyle 2,50,000$ $\displaystyle 125$
Q. (b) From the following Balance Sheet of Sneha Ltd……….
Ans.
Common size statement of Profit & Loss for the years ended
31st March, $\displaystyle 2021$ and 31st March, $\displaystyle 2022$
$\displaystyle 2020$–$\displaystyle 21$ $\displaystyle 2021$–$\displaystyle 22$ % of Revenue % of Revenue
Particulars
(₹) (₹) from Operations from Operations
$\displaystyle 2020$–$\displaystyle 21$ $\displaystyle 2021$-$\displaystyle 22$
Revenue from operations $\displaystyle 10,00,000$ $\displaystyle 20,00,000$ $\displaystyle 100$ $\displaystyle 100$
Less Expenses :
Employee benefit expenses $\displaystyle 4,00,000$ $\displaystyle 8,00,000$ $\displaystyle 40$ $\displaystyle 40$
Other expenses $\displaystyle 1,00,000$ $\displaystyle 2,00,000$ $\displaystyle 10$ $\displaystyle 10$
Profit before Tax $\displaystyle 5,00,000$ $\displaystyle 10,00,000$ $\displaystyle 50$ $\displaystyle 50$
Less Tax @ $\displaystyle 50$% $\displaystyle 2,50,000$ $\displaystyle 5,00,000$ $\displaystyle 25$ $\displaystyle 25$
Profit after Tax $\displaystyle 2,50,000$ $\displaystyle 5,00,000$ $\displaystyle 25$ $\displaystyle 25$
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CBSE Class 12 Accountancy past-paper question from the 2022 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.