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Accountancy · 2022 · 3 marks
CBSE 2022 · Region 5 · Set 2 · Q11
Prepare Common Size Income Statement for the year ended 3 1st March, 2021 from the following information: Particulars 2020-21 2019-20 () (5) Revenue…
Prepare Common Size Income Statement for the year ended $\displaystyle 3$ 1st March, $\displaystyle 2021$ from the following information : Particulars $\displaystyle 2020$-$\displaystyle 21$ $\displaystyle 2019$-$\displaystyle 20$ () ($\displaystyle 5$) Revenue from operations $\displaystyle 10{,}00{,}000$ $\displaystyle 5{,}00{,}000$ Other Income $\displaystyle 1{,}00{,}000$ $\displaystyle 50{,}000$ Expenses $\displaystyle 2{,}00{,}000$ $\displaystyle 1{,}00{,}000$ Income Tax @ $\displaystyle 400$ $\displaystyle 0$
OR
Prepare Comparative Statement of Profit and Loss for the year ended 31st March, $\displaystyle 2021$ from the following information : Particulars $\displaystyle 2020$-$\displaystyle 21$ $\displaystyle 2019$-$\displaystyle 20$ Q) Q) Revenue from operations $\displaystyle 75{,}00{,}000$ $\displaystyle 60{,}00{,}000$ Expenses $\displaystyle 50{,}00{,}000$ $\displaystyle 40{,}00{,}000$ Income Tax @ $\displaystyle 400$ $\displaystyle 0$
Marking-scheme solution
Common Size Income Statement
for the year ended 31st March, $\displaystyle 2021$
Absolute amounts Percentage of
Revenue from
operations
Particulars $\displaystyle 2019$–$\displaystyle 20$ $\displaystyle 2020$–$\displaystyle 21$ $\displaystyle 2019$–$\displaystyle 20$ $\displaystyle 2020$–$\displaystyle 21$
(₹) (₹)
(%) (%)
Revenue from Operations $\displaystyle 5{,}00{,}000$ $\displaystyle 10{,}00{,}000$ $\displaystyle 100$ $\displaystyle 100$
Add : Other Income $\displaystyle 50{,}000$ $\displaystyle 1{,}00{,}000$ $\displaystyle 10$ $\displaystyle 10$
Total Revenue $\displaystyle 5{,}50{,}000$ $\displaystyle 11{,}00{,}000$ $\displaystyle 110$ $\displaystyle 110$
Less : Expenses $\displaystyle 1{,}00{,}000$ $\displaystyle 2{,}00{,}000$ $\displaystyle 20$ $\displaystyle 20$
Profit Before tax $\displaystyle 4{,}50{,}000$ $\displaystyle 9{,}00{,}000$ $\displaystyle 90$ $\displaystyle 90$
Less : Income tax $\displaystyle 1{,}80{,}000$ $\displaystyle 3{,}60{,}000$ $\displaystyle 36$ $\displaystyle 36$
Profit after tax $\displaystyle 2{,}70{,}000$ $\displaystyle 5{,}40{,}000$ $\displaystyle 54$ $\displaystyle 54$
Comparative Income Statement
for the year ended 31st March $\displaystyle 2021$
Particulars $\displaystyle 2019$–$\displaystyle 20$ $\displaystyle 2020$–$\displaystyle 21$ Absolute %
(₹) (₹) Change Change
(₹)
Revenue from Operations $\displaystyle 60{,}00{,}000$ $\displaystyle 75{,}00{,}000$ $\displaystyle 15{,}00{,}000$ $\displaystyle 25$
Less: Expenses $\displaystyle 40{,}00{,}000$ $\displaystyle 50{,}00{,}000$ $\displaystyle 10{,}00{,}000$ $\displaystyle 25$
Profit Before tax $\displaystyle 20{,}00{,}000$ $\displaystyle 25{,}00{,}000$ $\displaystyle 5{,}00{,}000$ $\displaystyle 25$
Less: Tax $\displaystyle 8{,}00{,}000$ $\displaystyle 10{,}00{,}000$ $\displaystyle 2{,}00{,}000$ $\displaystyle 25$
Profit after tax $\displaystyle 12{,}00{,}000$ $\displaystyle 15{,}00{,}000$ $\displaystyle 3{,}00{,}000$ $\displaystyle 25$
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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.