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Accountancy · 2024 · 4 marks
CBSE 2024 · Region 2 · Set 1 · Q33
From the following information, prepare Comparative Statement of Profit and Loss for the year ended 31st March, 2023: 2022 23 2021 22 Particulars (<)…
From the following information, prepare Comparative Statement of Profit and Loss for the year ended 31st March, $\displaystyle 2023$ : $\displaystyle 2022$ $\displaystyle 23$ $\displaystyle 2021$ $\displaystyle 22$ Particulars (<) (<) Revenue from operations $\displaystyle 4,00,000$ $\displaystyle 2,00,000$ Other income $\displaystyle 80,000$ $\displaystyle 40,000$ Employee benefit expenses $\displaystyle 50$% of Revenue from operations Tax rate $\displaystyle 50$%
Prepare a 'Common Size State men of Profit and Loss' of Neurosci Ltd. for the year ended 31st March, $\displaystyle 2023$ from the following information : $\displaystyle 2022$ $\displaystyle 23$ $\displaystyle 2021$ $\displaystyle 22$ Particulars (<) (<) Revenue from operations $\displaystyle 40,00,000$ $\displaystyle 20,00,000$ Purchase of stock in trade $\displaystyle 4,00,000$ $\displaystyle 2,00,000$ Other expenses $\displaystyle 40,000$ $\displaystyle 20,000$ Tax rate $\displaystyle 50$%
Marking-scheme solution
Comparative Statement of Profit and Loss
for the year ended 31st March $\displaystyle 2023$
Particulars Note $\displaystyle 2021$-$\displaystyle 22$ $\displaystyle 2022$-$\displaystyle 23$ Absolute Percentage
No. Increase/ Increase/
Decrease Decrease
₹ ₹ ₹ %
I. Revenue from Operations $\displaystyle 2,00,000$ $\displaystyle 4,00,000$ $\displaystyle 2,00,000$ $\displaystyle 100$
II. Other Income $\displaystyle 40,000$ $\displaystyle 80,000$ $\displaystyle 40,000$ $\displaystyle 100$
III. Total Revenue (I+ II) $\displaystyle 2,40,000$ $\displaystyle 4,80,000$ $\displaystyle 2,40,000$ $\displaystyle 100$
IV. Expenses:
Employees Benefit Expenses $\displaystyle 1,00,000$ $\displaystyle 2,00,000$ $\displaystyle 1,00,000$ $\displaystyle 100$
V. Profit before tax (III- IV) $\displaystyle 1,40,000$ $\displaystyle 2,80,000$ $\displaystyle 1,40,000$ $\displaystyle 100$
VI. Less: Tax @ $\displaystyle 50$% $\displaystyle 70,000$ $\displaystyle 1,40,000$ $\displaystyle 70,000$ $\displaystyle 100$
VII. Profit after tax (V- VI) $\displaystyle 70,000$ $\displaystyle 1,40,000$ $\displaystyle 70,000$ $\displaystyle 100$
Q. (b) Prepare a ‘Common Size Statement ……………………….
Ans.
Common Size Statement of Profit and Loss of Neurosci Ltd.
for the years ended 31st March $\displaystyle 2022$ & 31st March $\displaystyle 2023$
Particulars Note Absolute amounts (₹) % of Revenue from
No. Operations
$\displaystyle 2021$-$\displaystyle 22$ $\displaystyle 2022$-$\displaystyle 23$ $\displaystyle 2021$-$\displaystyle 22$ $\displaystyle 2022$-$\displaystyle 23$
I. Revenue from Operations $\displaystyle 20,00,000$ $\displaystyle 40,00,000$ $\displaystyle 100$ $\displaystyle 100$
II. Expenses:
Purchase of stock in trade $\displaystyle 2,00,000$ $\displaystyle 4,00,000$ $\displaystyle 10$ $\displaystyle 10$
Other expenses $\displaystyle 20,000$ $\displaystyle 40,000$ $\displaystyle 1$ $\displaystyle 1$
III. Profit before tax (I- II) $\displaystyle 17,80,000$ $\displaystyle 35,60,000$ $\displaystyle 89$ $\displaystyle 89$
IV. Less: Tax @ $\displaystyle 50$% $\displaystyle 8,90,000$ $\displaystyle 17,80,000$ $\displaystyle 44.5$ $\displaystyle 44.5$
V. Profit after tax (III- IV) $\displaystyle 8,90,000$ $\displaystyle 17,80,000$ $\displaystyle 44.5$ $\displaystyle 44.5$
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CBSE Class 12 Accountancy past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.