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Accountancy · 2022 · 3 marks
CBSE 2022 · Region 2 · Set 3 · Q11
From the following information, prepare a Common Size Statement of Profit and Loss of X Ltd., for the year ended 31st March, 2022: 2021 22 2020 21…
From the following information, prepare a Common Size Statement of Profit and Loss of X Ltd., for the year ended 31st March, $\displaystyle 2022$ : $\displaystyle 2021$ $\displaystyle 22$ $\displaystyle 2020$ $\displaystyle 21$ Particulars < < Revenue from Operations $\displaystyle 25,00,000$ $\displaystyle 20,00,000$ Other Income $\displaystyle 3,00,000$ $\displaystyle 2,00,000$ Expenses $\displaystyle 3,00,000$ $\displaystyle 1,00,000$ Tax Rate $\displaystyle 50$%
From the following information, prepare a Comparative Statement of Profit and Loss of Y Ltd. for the year ended 31st March, $\displaystyle 2022$ : $\displaystyle 2021$ $\displaystyle 22$ $\displaystyle 2020$ $\displaystyle 21$ Particulars < < Revenue from Operations $\displaystyle 40,00,000$ $\displaystyle 30,00,000$ Other Income $\displaystyle 10,00,000$ $\displaystyle 10,00,000$ Employees Benefit Expenses $\displaystyle 5,00,000$ $\displaystyle 5,00,000$ Other Expenses $\displaystyle 35,00,000$ $\displaystyle 20,00,000$ Tax Rate $\displaystyle 50$%
Marking-scheme solution
Common size statement of Profit & Loss of X Ltd. for the years ended
31st March, $\displaystyle 2021$ and 31st March, $\displaystyle 2022$
Particulars $\displaystyle 2020$–$\displaystyle 21$ $\displaystyle 2021$–$\displaystyle 22$ % of Revenue % of Revenue
(₹) (₹) from Operations from Operations
$\displaystyle 2020$–$\displaystyle 21$ $\displaystyle 2021$-$\displaystyle 22$
Revenue from operations $\displaystyle 20,00,000$ $\displaystyle 25,00,000$ $\displaystyle 100$ $\displaystyle 100$
Add other income $\displaystyle 2,00,000$ $\displaystyle 3,00,000$ $\displaystyle 10$ $\displaystyle 12$
Total Revenue $\displaystyle 22,00,000$ $\displaystyle 28,00,000$ $\displaystyle 110$ $\displaystyle 112$
Less Expenses $\displaystyle 1,00,000$ $\displaystyle 3,00,000$ $\displaystyle 5$ $\displaystyle 12$
Profit before Tax $\displaystyle 21,00,000$ $\displaystyle 25,00,000$ $\displaystyle 105$ $\displaystyle 100$
Less Tax @$\displaystyle 50$% $\displaystyle 10,50,000$ $\displaystyle 12,50,000$ $\displaystyle 52.5$ $\displaystyle 50$
Profit after Tax $\displaystyle 10,50,000$ $\displaystyle 12,50,000$ $\displaystyle 52.5$ $\displaystyle 50$
Q. (b) From the following information, prepare a Comparative Statement
……….
Ans.
Comparative statement of Profit & Loss of Y Ltd. for the 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 $\displaystyle 30,00,000$ $\displaystyle 40,00,000$ $\displaystyle 10,00,000$ $\displaystyle 33$·$\displaystyle 3$
Add other income $\displaystyle 10,00,000$ $\displaystyle 10,00,000$ — —
Total Revenue $\displaystyle 40,00,000$ $\displaystyle 50,00,000$ $\displaystyle 10,00,000$ $\displaystyle 25$
Less expenses :
Employee benefit expenses $\displaystyle 5,00,000$ $\displaystyle 5,00,000$ — —
Other Expenses $\displaystyle 20,00,000$ $\displaystyle 35,00,000$ $\displaystyle 15,00,000$ $\displaystyle 75$
Profit before Tax $\displaystyle 15,00,000$ $\displaystyle 10,00,000$ ($\displaystyle 5,00,000$) ($\displaystyle 33$·$\displaystyle 3$)
Less Tax @ $\displaystyle 50$% $\displaystyle 7,50,000$ $\displaystyle 5,00,000$ ($\displaystyle 2,50,000$) ($\displaystyle 33.3$)
Profit after Tax $\displaystyle 7,50,000$ $\displaystyle 5,00,000$ ($\displaystyle 2,50,000$) ($\displaystyle 33$·$\displaystyle 3$)
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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.