Following information is extracted from the Statement of Profit and Loss of ABC Finance Ltd. For
the year ended 31st March, 2020 and 31st March, 2019. (4)
31st March 2020 31st March 2019
Revenue from Operations 40,00,000 25,00,000
Employee Benefit Expenses 10% of Revenue from
Operations
10% of Revenue from
Operations
Other Expenses 6,00,000 5,00,000
Tax Rate 40% 40%
Prepare comparative statement of profit and loss.
Answers
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:
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