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Accountancy · 2024 · 4 marks
CBSE 2024 · Region 5 · Set 2 · Q33
From the following Statement of Profit and Loss of Shikha Ltd., prepare Comparative Statement of Profit and Loss for the year ended 31st March, 2023.…
From the following Statement of Profit and Loss of Shikha Ltd., prepare Comparative Statement of Profit and Loss for the year ended 31st March, 2023. Shikha Ltd. Statement of Profit & Loss for the year ended $\displaystyle 31$" March, $\displaystyle 2023$ $\displaystyle 2022$-$\displaystyle 23$ $\displaystyle 2021$-$\displaystyle 22$ Particulars c) c) Revenue from operations $\displaystyle 32,00,000$ $\displaystyle 20,00,000$ Expenses : Employee benefit expenses $\displaystyle 9,60,000$ $\displaystyle 6,00,000$ Other expenses $\displaystyle 6,40,000$ $\displaystyle 4,00,000$ Rate of Tax is $\displaystyle 50$% .
From the following information prepare a Common Size Statement of Profit and Loss of A Ltd. and B Ltd. for the year ended $\displaystyle 313$* March, $\displaystyle 2023$ : Particulars A Ltd. B Ltd. Revenue from operations ($\displaystyle 2$') $\displaystyle 20,00,000$ $\displaystyle 10,00,000$ Other income (?) $\displaystyle 3,00,000$ $\displaystyle 80,000$ Expenses (?) $\displaystyle 10,40,000$ $\displaystyle 4,80,000$ Tax Rate $\displaystyle 40$% $\displaystyle 40$%
Marking-scheme solution
Shikha Ltd.
Comparative Statement of Profit and Loss
for the year ended March $\displaystyle 31$, $\displaystyle 2023$
Particulars $\displaystyle 2021$–$\displaystyle 22$ $\displaystyle 2022$–$\displaystyle 23$ Absolute %
(₹) (₹)
Increase/ Increase/
Decrease
Decrease
(₹)
I. Revenue from Operations $\displaystyle 20,00,000$ $\displaystyle 32,00,000$ $\displaystyle 12,00,000$ $\displaystyle 60$
II. Expenses:
Employee benefit expenses $\displaystyle 6,00,000$ $\displaystyle 9,60,000$ $\displaystyle 3,60,000$ $\displaystyle 60$
Other expenses $\displaystyle 4,00,000$ $\displaystyle 6,40,000$ $\displaystyle 2,40,000$ $\displaystyle 60$
Total Expenses $\displaystyle 10,00,000$ $\displaystyle 16,00,000$ $\displaystyle 6,00,000$ $\displaystyle 60$
III. Profit before Tax (I – II) $\displaystyle 10,00,000$ $\displaystyle 16,00,000$ $\displaystyle 6,00,000$ $\displaystyle 60$
IV. Less : Tax @ $\displaystyle 50$% $\displaystyle 5,00,000$ $\displaystyle 8,00,000$ $\displaystyle 3,00,000$ $\displaystyle 60$
V. Profit after Tax (III – IV) $\displaystyle 5,00,000$ $\displaystyle 8,00,000$ $\displaystyle 3,00,000$ $\displaystyle 60$
Q. (b) From the following information…..
Ans.
A Ltd. and B Ltd.
Common Size Statement of Profit and Loss
for the year ended 31st March $\displaystyle 2023$
Particulars Absolute Amounts % of Revenue
from operations
A Ltd. B Ltd. A Ltd. B Ltd.
(₹) (₹) (₹) (₹)
Revenue from Operations $\displaystyle 20,00,000$ $\displaystyle 10,00,000$ $\displaystyle 100$ $\displaystyle 100$
Other Income $\displaystyle 3,00,000$ $\displaystyle 80,000$ $\displaystyle 15$ $\displaystyle 8$
Total Revenue $\displaystyle 23,00,000$ $\displaystyle 10,80,000$ $\displaystyle 115$ $\displaystyle 108$
Less: Expenses $\displaystyle 10,40,000$ $\displaystyle 4,80,000$ $\displaystyle 52$ $\displaystyle 48$
Profit before Tax $\displaystyle 12,60,000$ $\displaystyle 6,00,000$ $\displaystyle 63$ $\displaystyle 60$
Less : Tax @ $\displaystyle 40$% $\displaystyle 5,04,000$ $\displaystyle 2,40,000$ $\displaystyle 25.2$ $\displaystyle 24$
Profit after Tax $\displaystyle 7,56,000$ $\displaystyle 3,60,000$ $\displaystyle 37.8$ $\displaystyle 36$
Alternate Answer
A Ltd. and B Ltd.
Common Size Statement of Profit and Loss
for the year ended 31st March $\displaystyle 2023$
Particulars Absolute % of Absolute % of
Amounts Revenue Amounts Revenue
from from
A Ltd. operations B Ltd. operations
(₹) A Ltd. (₹) B Ltd.
Revenue from Operations $\displaystyle 20,00,000$ $\displaystyle 100$ $\displaystyle 10,00,000$ $\displaystyle 100$
Other Income $\displaystyle 3,00,000$ $\displaystyle 15$ $\displaystyle 80,000$ $\displaystyle 8$
Total Revenue $\displaystyle 23,00,000$ $\displaystyle 115$ $\displaystyle 10,80,000$ $\displaystyle 108$
Less: Expenses $\displaystyle 10,40,000$ $\displaystyle 52$ $\displaystyle 4,80,000$ $\displaystyle 48$
Profit before Tax $\displaystyle 12,60,000$ $\displaystyle 63$ $\displaystyle 6,00,000$ $\displaystyle 60$
Less : Tax @ $\displaystyle 40$% $\displaystyle 5,04,000$ $\displaystyle 25.2$ $\displaystyle 2,40,000$ $\displaystyle 24$
Profit after Tax $\displaystyle 7,56,000$ $\displaystyle 37.8$ $\displaystyle 3,60,000$ $\displaystyle 36$
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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.