From the following Statement of Profit and Loss of Nutan Ltd. for the years ended 31st March, 2023 and 2024, prepare a Comparative Statement of Profit and Loss:
Particulars 2022–23 (₹) 2023–24 (₹) Revenue from Operations 5,00,000 6,00,000 Other Income 20,000 30,000 Expenses 4,00,000 5,00,000 Tax Rate 40% 40%
From the following Statement of Profit and Loss of Nutan Ltd. for the years ended 31st March, 2023 and 2024, prepare a Comparative Statement of Profit and Loss:
| Particulars | 2022–23 (₹) | 2023–24 (₹) |
| Revenue from Operations | 5,00,000 | 6,00,000 |
| Other Income | 20,000 | 30,000 |
| Expenses | 4,00,000 | 5,00,000 |
| Tax Rate | 40% | 40% |
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Solution and Explanation
| Particulars | 2022–23 | 2023–24 | % Change |
| Revenue from Operations | 5,00,000 | 6,00,000 | 20% |
| Other Income | 20,000 | 30,000 | 50% |
| Total Revenue | 5,20,000 | 6,30,000 | 21.15% |
| Less: Expenses | 4,00,000 | 5,00,000 | 25% |
| Profit Before Tax | 1,20,000 | 1,30,000 | 8.33% |
| Less: Tax (40%) | 48,000 | 52,000 | 8.33% |
| Profit After Tax | 72,000 | 78,000 | 8.33% |
We compare each figure across years and calculate both absolute and percentage changes. This aids in understanding trends, identifying performance improvements, and areas requiring attention.
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From the following Balance Sheet of Hira Ltd. as at 31st March, 2023, prepare Comparative Balance Sheet:
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- Cash Revenue from Operations = ₹ 2,50,000
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- (D) Purchased goods on cash
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Trade Receivables Turnover Ratio - 4 times
Closing Trade Receivables were Rs 20,000 more than that in the beginning.
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