Question of 33
Q.
Summarised profit and loss statements of Gujarat Ltd. for the year ending on 31.03.2023 and 31.03.2024 are as follows: Prepare comparative profit and loss statement.
Profit-loss statement of Gujarat Ltd. for the year ending on 31.03.2023 and 31.03.2024
| Particulars | Note No. | 31.3.2024 (₹) | 31.3.2023 (₹) |
|---|---|---|---|
| Sales revenue | 9,00,000 | 8,00,000 | |
| Other Income | 2,00,000 | 1,00,000 | |
| Cost of goods consumed | 3,30,000 | 3,00,000 | |
| Financial expenses | 1,00,000 | 1,00,000 | |
| Other expenses | 1,80,000 | 2,00,000 |
Income tax rate is 30%
Gujarat GsebGujarat Board (GSEB) HSC Commerce Board 2026Subjective· 4mImportance★★★★★
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Start your 14-day free trial to unlock the full solution →Profit before tax rises 63.33% (3,00,000 to 4,90,000) and profit after tax rises 63.33% (2,10,000 to 3,43,000).
Percentage change = (2024 - 2023) / 2023 x 100. Tax at 30% on profit before tax.
Comparative Statement of Profit and Loss of Gujarat Ltd. (years ending 31.3.2023 and 31.3.2024):
| Particulars | 31.3.2023 | 31.3.2024 | Absolute change | % change |
|---|---|---|---|---|
| Revenue from operations (Sales) | 8,00,000 | 9,00,000 | 1,00,000 | 12.50 |
| Add: Other income | 1,00,000 | 2,00,000 | 1,00,000 | 100.00 |
| Total revenue (A) | 9,00,000 | 11,00,000 | 2,00,000 | 22.22 |
| Cost of goods consumed | 3,00,000 | 3,30,000 | 30,000 | 10.00 |
| Financial expenses | 1,00,000 | 1,00,000 | 0 | 0.00 |
| Other expenses | 2,00,000 | 1,80,000 | (20,000) | (10.00) |
| Total expenses (B) | 6,00,000 | 6,10,000 | 10,000 | 1.67 |
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