Lomparative income statement Problem-1: From the following information, prepare Comparative Income Statement. Particulars 2017-18 2018-19 @) () Revenue from operations 60, 00,000 75, 00,000 Other Income 1, 50,000 1, 20,000 Expenses 44, 00,000 50, 60,000 Income Tax 30% 40%Problem-2: The statement of Profit and Lass of a company for the year ended 31 March 2018 and 2019 are available. You are required to prepare a Comparative Income Statement and also comment on the performance of the company. ‘Statement of Profit and loss for the year ended 31 March 2018 and 2019 Sino Particulars 313.2018 313.2019 @) (2) T [income Revenue from operations 520,000 6,50,000 Other Income 26,000 39,000 Total 5.46,000 6.89.000 rr | Expenses Purchase of stock in trade oe tO. Change in Inventories of stock in trade (13.000) Emuleyoes Benoft E 39,000 1,04,000 mployees Benefit Expenses a1 000 ry 000 Other Expenses Total 3,90,000 6.11,000 I _| Profit (1-1) 1,56,000 78,000 Note: - Other Expenses include Provision for tax— 31.3.18(2) 31.3.19(2) 78,000 91,000From the following balance sheet of POR Ltd as on 31.3.18 and31.3.19, prepare a comparative Balance Sheet. Balance sheet as at 31.3.18 and31.319 SI Particulars Note 31.3.18 (2) 31.3.19 (@) No No T | EQUITY AND LIABILITIES 1. Shareholder’s Funds {a) Share capital (iEquity share capital 3,00,000 3.00,000 (b) Reserve and Surplus 1.00.00 1.20,000 2. Non Current liabilities ° ~— (a) Long term borrowing (i) 6% Debenture 2,00,000 220,000 3. Current liabilities (a) Trade Payable 60.000 80,000 (b) Short Term Provision 40,000 80.000 Total 7,00,000 10,00.000 rr_ | ASSESTS 1. Non Current Assets (a) Fixed Assets- (iTangible 4,00,000 5,00,000 (b) Non Current Investment 1,00,000 1,00,000 2. Current Assets (a) Trade Receivable 2,00,000 4,00,000 Total 7,00,000 10,00,000Problem-4:- From the following information available from N Ltd, prepare Comparative Balance Sheet. Particulars ae Share Capital 30,000 Reserve 12,000 Debenture 60,000 Fixed Assets 80,000 Debtors 10,000 Bank 12.000Illustration The following is the Profit and Loss Account of TATA MOTORS Ltd. for December 2004 and 2005. Prepare comparative Income statement and comment on the profitability of the undertaking. To Cost of 2,31,625 41,950 | By Sales 3,60,728 | 4,17,125, goods sold Less Returns 94 952 if To loss on sale a fixed Assets | To Income tax | Income taxThe following are the Balance Sheets of GODWINS Ltd. for the years ending 31° March, 2004, 2005 Particulars 2004 2005. Liabilities Equity share capital 2,00,000 | —3,30,000 Preference share capital 1,00,000 ] —7,50,000 20,000 | 30,000 Profit and loss account 15,000 20,000 Bank overdraft 50,000 | 50,000 [Creditors 40,000 | 50,000 Provision for taxation 20,000 | 25,000 Proposed dividend 15,000 25,000 460,000 | 6,80,000 Fixed Assets (Less : Depreciation) 240,000] —3,50,000 [Stock 49,000 | 50,000 Debtors 1,900,000 | 1,25,000 Bills receivable 20,000 | 60,000 10,000 | 12,000 Cash in hand 40,000 53,000 [Cash at bank 10,000 | 30,000 4,60,000 | _ 6,80,000Hn Illustration ‘The following details are provided by C itd. For the year ended 31° March, 2015 and 2016 prepare Comparative Statement: Particulars 3iais | 31/03/16 Share capital 24,00,000 | 26,10,000 2,40,000 | 2,90,000 4,20,000 | 600,000 70,00,000 | 6,00,000 2,00,000 7,60,000 14,00,000 13,00,000 12,00,000 13,20,000 4,40,000 4,30,000 2,10,000 2,72,000 | 2,88,000 tock 8,00,000 | 7,70,000 Debtors 676,000 | 8.30,000 186,000 Prepaid Expenses 30,000 22,000