question_answer

Prepare comparative statement of profit and loss from the following statement of profit and loss.

	Particulars	2016 Amt (Rs.)	2017 Amt (Rs.)
I.	Income
	Revenue from Operations (Sales)	3,00,000	3,50,000
II.	Expenses
	Purchases of Stock-in-trade	1,80,000	2,10,000
	Changes in Inventories of Stock-in-trade	20,000	15,000
	Employees Benefit Expenses	15,000	17,500
	Other Expenses	5,000	7,500
	Total	2,20,000	2,50,000
III.	Net Profit (I - II)	80,000	1,00,000

Answer:

                                    Comparative Statement of Profit And Loss for the years ended 31st March, 2016 and 2017

	Particulars	Note No.	31st March, 2016	31st March, 2017 (Rs.)	Absolute Change (Increase or Decrease) Rs.	Percentage Change (Increase or Decrease) (%)
			(A)	(B)	(C = B ? A)	\[\left( D=\frac{C}{A}\times 100 \right)\]
I.	Revenue from Operations		3,00,000	3,50,000	50,000	16.67
	(Sales)
II.	Expenses
	Purchases of
	Stock-in-trade		1,80,000	2,10,000	30,000	16,67
	Changes in Inventories
	of Stock-in-trade		20,000	15,000	(5,000)	(26)
	Employees Benefit		15,000	17,500	2,500	16,67
	Expenses
	Other Expenses		5,000	7,500	2,500	50
	Total Expenses		2,20,000	2,50,000	30,000	13,64
III.	Net Profit (I-II)		80,000	1,00,000	20,000	25