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Following is the information from the Statement of Profit & Loss of XL Limited for the
years ended March 31.2018 & March 31, 2019
2018-19
2017-18
Revenue from Operations 18.00.000
15.00.000
Other income
60.000
30.000
Expenses
10.40.000
8.70,000
Income tax
3,00.000
2,50.000
Prepare Comparative Statement of Profit & Loss of XL Limited,
Answers
Answer:
Explanation:
Comparative statement
Revenue from operation 1800000 1500000 3300000
Other Income 60000 30000 90000
Total revenue 1800000 1500000 3300000
Expenses 1040000 870000 1910000
Other Income 60000 30000 90000
Total expense 1040000 870000 1910000
profit before tax 11000000 900000 2000000
less : tax 300000 250000 550000
10700000 650000 11350000