Question:
From the following information, prepare a Comparative Income Statement of Arun Ltd. for the year ended 31st March, 2024. 
From the following information, prepare a Comparative Income Statement of Arun Ltd. for the year ended 31st March, 2024.
Show Hint
In a comparative income statement, both absolute change and percentage change help in analysing performance over time.
Updated On: Feb 16, 2026
Show Solution
Verified By Collegedunia
Solution and Explanation
Step 1: Calculation of Other Expenses \[ \text{Other Expenses (2024)} = 12% \times 30,00,000 = ₹3,60,000 \] \[ \text{Other Expenses (2023)} = 10% \times 12,00,000 = ₹1,20,000 \] Step 2: Preparation of Comparative Income Statement Comparative Income Statement of Arun Ltd. 
Was this answer helpful?
0
0
Top PSEB Accountancy Questions
- Under which method of valuation of Goodwill, normal rate of return is not required?
- An increase in the value of assets is recorded on which side of the Revaluation Account?
- J, K, L, M are in partnership sharing profits and losses in ratio of 9 : 6 : 5 : 5. 'N' joins the partnership for 20% share. J, K, L and M would in future share profits among themselves as 3 : 4 : 2 : 1. The new profit sharing ratio will be:
- X, Y and Z are three partners sharing profits in the ratio 10 : 7 : 7. Z retired. X and Y decided to share profits in equal ratio. Gaining ratio will be:
- Rent paid to a partner is _________ against profit. (charge/appropriation)
View More Questions
Top PSEB Profit and Loss Account Questions
- J, K, L, M are in partnership sharing profits and losses in the ratio of 9 : 6 : 5 : 5. ‘N’ joins the partnership for 20% share. J, K, L and M would in future share profits among themselves as 3 : 4 : 2 : 1. The new profit sharing ratio will be:
- X, Y and Z are three partners sharing profits in the ratio of 10 : 7 : 5. Z retired. X and Y decided to share profits in equal ratio. The gaining ratio will be:
- Rent paid to a partner is __________ against profit. (charge/appropriation)
- Sita, Gita and Rita are partners sharing profits in the ratio of 4 : 3 : 2. From April 1, 2024, they decided to share the profit equally. On that date their books showed the following items:
General Reserve ₹1,80,000
Workmen Compensation Reserve ₹2,25,000
Profit & Loss Account (Dr.) ₹4,50,000
Record the necessary Journal Entries. - X and Y were partners in a firm. They admitted Z as a new partner for 20% share in the profits. After all adjustments regarding general reserve, goodwill, gain or loss on revaluation, the balances in capital accounts of X and Y were ₹2,50,000 and ₹3,50,000 respectively. Z brought proportionate capital so as to give him 20% share in the profits. Calculate the amount of capital to be brought by Z.
View More Questions
Top PSEB Questions
- Under which method of valuation of Goodwill, normal rate of return is not required?
- An increase in the value of assets is recorded on which side of the Revaluation Account?
- J, K, L, M are in partnership sharing profits and losses in ratio of 9 : 6 : 5 : 5. 'N' joins the partnership for 20% share. J, K, L and M would in future share profits among themselves as 3 : 4 : 2 : 1. The new profit sharing ratio will be:
- X, Y and Z are three partners sharing profits in the ratio 10 : 7 : 7. Z retired. X and Y decided to share profits in equal ratio. Gaining ratio will be:
- Rent paid to a partner is _________ against profit. (charge/appropriation)
View More Questions