Question

From the following Statement of Profit and Loss of Shikha Ltd., prepare Comparative Statement of Profit and Loss for the year ended 31^st March, 2023:

Hint:

When preparing a comparative statement, calculate the percentage change for each item using the formula: \[ \%{ Change} = \frac{{Current Year - Previous Year}}{{Previous Year}} \times 100 \]

Answer 1

Comparative Statement of Profit and Loss: 

 Explanation: \[ \%{ Change} = \frac{{Current Year - Previous Year}}{{Previous Year}} \times 100 \] For each item: 

1. Revenue from Operations: \[ \frac{32,00,000 - 20,00,000}{20,00,000} \times 100 = 60\% \] 

2. Employee Benefit Expenses: \[ \frac{9,60,000 - 6,00,000}{6,00,000} \times 100 = 60\% \] 

3. Other Expenses: \[ \frac{6,40,000 - 4,00,000}{4,00,000} \times 100 = 60\% \]