Question

From the following particulars obtained from the books of Mark Ltd., prepare a comparative statement of profi and loss.
Particulars
Note
2017 - 18
2016 - 17
No.
Revenue from operations
50,00,000
40,00,000
Purchase of stock-in trade
40,00,000
30,00,000
Changes in inventory
10,00,000
8,00,000
Other expenses
5,00,000
4,00,000
Other incomes
2,50,000
2,00,000
​

Answer 1

Answer:

23,50,000

Explanation:

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Answer 2

The statement is shown below:

Explanation:

• Comparative statement is the statement which is defined as a document or sheet used for comparing the specific financial statement with the previous period or year statements.
• Prior financials are stated alongside the latest or new figures side by side columns and enable the investors to recognize the trends and track the progress of the company and allow to compare the statements with rivals industry.
• So, in this statement there is loss of ($250,000) in the present year.

Working Note:

Percentage is computed as:

Percentage = Absolute Change / Base year which is year 2016-17 × 100

So,

Percentage = $10,00,000 / $40,00,000 × 100

Percentage = 25%

NOTE: In the same every item percentage is computed.

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