28) Prepare common size profit and loss statement from the given
profit and loss statement :
Particulars Note 31.3.2017 31.3.2016
No.
I Sales revenue
37,50.000 30.00.000
II. Expenses :
(i) Purchases for resale 20,62,500 15,00,000
(ii) Employees' benefit
2.50,000 3.00,000
expenses
(iii) Financial expenses
2,25,000 1,80.000
(iv) Depreciation and
3,00,000 2,70,000
amortized amount
Total expenses
28.37.500 22.50.000
III. Profit before tax
9.12.500 7,50.000
IV. Less : Tax 30%
2.73,750 2.25.000
V. Profit after Tax
6,38,750 5,25,000
Answers
Answer:From the following Balance Sheet, prepare Comparative Balance Sheet of Sun Ltd.:
Particulars Note
No. 31st March, 2019
(₹) 31st March, 2018
(₹)
I. EQUITY AND LIABILITIES
1. Shareholder's Funds
(a) Share Capital
3,50,000 3,00,000
2. Non-Current Liabilities
Long-term Borrowings
1,00,000 2,00,000
3. Current Liabilities :
Trade Payables
1,50,000 1,00,000
Total 6,00,000 6,00,000
II. ASSETS
1. Non-Current Assets
Fixed Assets (Tangible)
4,00,000 3,00,000
2. Current Assets
Trade Receivables
2,00,000
3,00,000
Total
6,00,000
6,00,000
ANSWER:
In the books of Sun Ltd.
Comparative Balance Sheet
as at March 31, 2018 and 2019
Particulars
2018
(₹)
2019
(₹)
Absolute
Change
(₹)
Percentage
Change
(%)
I. Equity and Liabilities
1. Shareholders’ Funds
a. Share Capital
3,00,000
3,50,000
50,000
16.67
Shareholders’ Fund
3,00,000
3,50,000
50,000
16.67
2. Non-Current Liabilities
a. Long-term Borrowings
2,00,000
1,00,000
(1,00,000)
(50.00)
3. Current Liabilities
a. Trade Payables
1,00,000
1,50,000
50,000
50.00
Total
6,00,000
6,00,000
–
–
II. Assets
1. Non-Current Assets
a. Fixed Assets (Tangible)
3,00,000
4,00,000
1,00,000
33.33
2. Current Assets
a. Trade Receivables
3,00,000
2,00,000
(1,00,000)
(33.33)
Total
6,00,000
6,00,000
–
–
Explanation: