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Accountancy · 2025 · 3 marks
CBSE 2025 · Region 4 · Set 3 · Q32
From the following information of AK Ltd., prepare a Comparative Statement of Profit and Loss for the year ended 31st March, 2024.
From the following information of AK Ltd., prepare a Comparative Statement of Profit and Loss for the year ended 31st March, 2024.
| Particulars | $\displaystyle 2023$-$\displaystyle 24$ (₹) | $\displaystyle 2022$-$\displaystyle 23$ (₹) |
| Revenue from Operations | $\displaystyle 8,00,000$ | $\displaystyle 4,00,000$ |
| Other Income | $\displaystyle 1,60,000$ | $\displaystyle 80,000$ |
| Employee Benefit Expenses $\displaystyle 50$% of Revenue from Operations | ||
| Tax rate $\displaystyle 50$% |
Marking-scheme solution
In the books of AK Ltd
Comparative Income Statement
for the years ended 31st March $\displaystyle 2023$ and 31st March $\displaystyle 2024$
Particulars Absolute Absolute Absolute %
Amounts Amounts Change Change
$\displaystyle 31.3.2023$ $\displaystyle 31.3.2024$ ₹
₹ ₹
I. INCOME
Revenue from Operations $\displaystyle 4,00,000$ $\displaystyle 8,00,000$ $\displaystyle 4,00,000$ $\displaystyle 100$
Other Incomes $\displaystyle 80,000$ $\displaystyle 1,60,000$ $\displaystyle 80,000$ $\displaystyle 100$
TOTAL REVENUE $\displaystyle 4,80,000$ $\displaystyle 9,60,000$ $\displaystyle 4,80,000$ $\displaystyle 100$
II. EXPENSES
Employee Benefit Expenses $\displaystyle 2,00,000$ $\displaystyle 4,00,000$ $\displaystyle 2,00,000$ $\displaystyle 100$
TOTAL EXPENSES $\displaystyle 2,00,000$ $\displaystyle 4,00,000$ $\displaystyle 2,00,000$ $\displaystyle 100$
III. Profit Before Tax (I-II) $\displaystyle 2,80,000$ $\displaystyle 5,60,000$ $\displaystyle 2,80,000$ $\displaystyle 100$
IV. Tax $\displaystyle 1,40,000$ $\displaystyle 2,80,000$ $\displaystyle 1,40,000$ $\displaystyle 100$
V. Profit After Tax (III-IV) $\displaystyle 1,40,000$ $\displaystyle 2,80,000$ $\displaystyle 1,40,000$ $\displaystyle 100$
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