From the following information, prepare a Comparative Statement of Profit and Loss of Smart Ltd. :
From the following information, prepare a Comparative Statement of Profit and Loss of Smart Ltd. :
Show Hint
Solution and Explanation
Comparative Statement of Profit and Loss
| Particulars | Note No. | 2023-24 (₹) | 2022-23 (₹) | Absolute Change (₹) | Percentage Change (%) |
|---|---|---|---|---|---|
| Revenue from Operations | 24,00,000 | 20,00,000 | 4,00,000 | 20% | |
| Cost of Materials Consumed | 6,00,000 | 4,00,000 | 2,00,000 | 50% | |
| Employee Benefit Expenses | 4,00,000 | 2,00,000 | 2,00,000 | 100% | |
| Total Expenses | 10,00,000 | 6,00,000 | 4,00,000 | 66.67% | |
| Profit Before Tax (PBT) | 14,00,000 | 14,00,000 | 0 | 0% | |
| Tax (50%) | 7,00,000 | 7,00,000 | 0 | 0% | |
| Profit After Tax (PAT) | 7,00,000 | 7,00,000 | 0 | 0% |
Explanation:
1. Revenue from Operations: Increased from ₹20,00,000 to ₹24,00,000, showing an increase of ₹4,00,000 or 20%.
2. Cost of Materials Consumed: Increased from ₹4,00,000 to ₹6,00,000, showing an increase of ₹2,00,000 or 50%.
3. Employee Benefit Expenses: Increased from ₹2,00,000 to ₹4,00,000, showing a significant increase of ₹2,00,000 or 100%.
4. Profit Before Tax (PBT): Revenue-Cost of Materials-Employee Benefit expenses. So, it becomes 2400000-600000-400000=1400000 and 2000000-400000-200000=1400000. Increased from ₹14,00,000 to ₹14,00,000, showing an increase of ₹0 or 0%.
5. Tax: Tax is calculated at 50% on PBT. Increased from ₹7,00,000 to ₹7,00,000, showing an increase of ₹0 or 0%.
6. Profit After Tax (PAT): PBT - Tax. Increased from ₹7,00,000 to ₹7,00,000, showing an increase of ₹0 or 0%.
Top Questions on Analysis of Financial Statements
On 31st March, 2024 following is the Balance Sheet of Bhavik Limited :
Bhavik Ltd.
Additional Information :
(i) During the year a piece of machinery costing Rs 8,00,000 accumulated depreciation thereon Rs 50,000 was sold for Rs 6,50,000
(ii) Debentures were redeemed on 31-03-2024.
Calculate:
(a) Cash flows from Investing Activities
(b) Cash flows from Financing Activities
- CBSE CLASS XII - 2025
- Accountancy
- Analysis of Financial Statements
- Which of the following item is not included in cash and cash equivalents ?
- CBSE CLASS XII - 2025
- Accountancy
- Analysis of Financial Statements
- Short-term highly liquid investments qualify as cash equivalents if they are realisable into known amounts of cash from the date of acquisition within a period of :
- CBSE CLASS XII - 2025
- Accountancy
- Analysis of Financial Statements
- In 'Common size income statement' each item is expressed as a percentage of ____
- CBSE CLASS XII - 2025
- Accountancy
- Analysis of Financial Statements
- _____ is not a tool of 'Analysis of Financial Statements'.
- CBSE CLASS XII - 2025
- Accountancy
- Analysis of Financial Statements
Questions Asked in CBSE CLASS XII exam
- Find the general solution of the differential equation \[ y\log y\,\frac{dx}{dy}+x=\frac{2}{y}. \]
- CBSE CLASS XII - 2026
- Differential Equations
- A square loop of side 0.50 m is placed in a uniform magnetic field of 0.4 T perpendicular to the plane of the loop. The loop is rotated through an angle of 60° in 0.2 s. The value of emf induced in the loop will be:
- CBSE CLASS XII - 2026
- Electromagnetic induction
A racing track is built around an elliptical ground whose equation is given by \[ 9x^2 + 16y^2 = 144 \] The width of the track is \(3\) m as shown. Based on the given information answer the following:
(i) Express \(y\) as a function of \(x\) from the given equation of ellipse.
(ii) Integrate the function obtained in (i) with respect to \(x\).
(iii)(a) Find the area of the region enclosed within the elliptical ground excluding the track using integration.
OR
(iii)(b) Write the coordinates of the points \(P\) and \(Q\) where the outer edge of the track cuts \(x\)-axis and \(y\)-axis in first quadrant and find the area of triangle formed by points \(P,O,Q\).
- CBSE CLASS XII - 2026
- Integration
- Consider a cylindrical conductor of length \( l \) and area of cross-section \( A \). Current \( I \) is maintained in the conductor and electrons drift with velocity \( \vec{v}_d \, (|\vec{v}_d| = \frac{eE}{m} \tau) \), where symbols have their usual meanings. Show that the conductivity of the material of the conductor is given by \[ \sigma = \frac{n e^2 \tau}{m}. \]
- CBSE CLASS XII - 2026
- Current Density
- The painting Hazrat Nizamuddin Auliya and Amir Khusro belongs to which sub-school of Deccan Miniature?
- CBSE CLASS XII - 2026
- Indian Miniature Paintings and Museums