Question 13 of 34
Q.
From the following particulars, prepare comparative income statement of Mary Co. Ltd.
| Particulars | 2015-16 (₹) | 2016-17 (₹) |
|---|---|---|
| Revenue from operations | 4,00,000 | 5,00,000 |
| Operating expenses | 2,00,000 | 1,80,000 |
| Income tax (profit before tax in percentage) | 20% | 50% |
Puducherry TnboardTamil Nadu HSC (DGE) Commerce Board 2020Subjective· 3mImportance★★★★★
38% · 13/34 Questions
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Start your 14-day free trial to unlock the full solution →Revenue +25%, operating expenses -10%, operating/pre-tax profit +60%, tax +300%, and profit after tax unchanged at 1,60,000 (0%).
A comparative income statement in the Tamil Nadu HSC Accountancy syllabus places two years side by side and shows the absolute and percentage change for each item. Percentage change = (Absolute change / Previous year figure) x 100.
Comparative Income Statement of Mary Co. Ltd.
| Particulars | 2015-16 (Rs.) | 2016-17 (Rs.) | Absolute change (Rs.) | % change |
|---|---|---|---|---|
| Revenue from operations | 4,00,000 | 5,00,000 | +1,00,000 | +25.00 |
| Less: Operating expenses | 2,00,000 | 1,80,000 | -20,000 | -10.00 |
| Operating profit / Profit before tax | 2,00,000 | 3,20,000 | +1,20,000 | +60.00 |
| Less: Income tax | 40,000 | 1,60,000 | +1,20,000 | +300.00 |
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