Question

From the following information prepare a Comparative Statement of Profit and Loss of Y Ltd.: \[ \begin{array}{|l|r|r|} \hline \textbf{Particulars} & \textbf{31.3.2023 (\text{₹})} & \textbf{31.3.2022 (\text{₹})} \\ \hline \text{Revenue from operations} & 40,00,000 & 20,00,000 \\ \text{Purchase of stock in trade} & 24,00,000 & 12,00,000 \\ \text{Change in inventories (\% of purchase of stock in trade)} & 25\% & 20\% \\ \text{Other expenses} & 2,00,000 & 1,60,000 \\ \text{Tax rate} & 40\% & 40\% \\ \hline \end{array} \]

Hint:

In a comparative statement, calculate the percentage change using: \[ \text{Percentage Change} = \frac{\text{Current Year - Previous Year}}{\text{Previous Year}} \times 100 \]

Answer 1

Comparative Statement of Profit and Loss of Y Ltd. \[ \begin{array}{|l|r|r|r|} \hline \textbf{Particulars} & \textbf{31.3.2023 (\text{₹})} & \textbf{31.3.2022 (\text{₹})} & \textbf{Change (\%)} \\ \hline \text{Revenue from operations} & 40,00,000 & 20,00,000 & 100.0 \\ \text{Cost of goods sold (COGS)} & 18,00,000 & 9,60,000 & 87.5 \\ \text{Gross profit} & 22,00,000 & 10,40,000 & 111.5 \\ \text{Other expenses} & 2,00,000 & 1,60,000 & 25.0 \\ \text{Profit before tax (PBT)} & 20,00,000 & 8,80,000 & 127.3 \\ \text{Tax @ 40\%} & 8,00,000 & 3,52,000 & 127.3 \\ \text{Profit after tax (PAT)} & 12,00,000 & 5,28,000 & 127.3 \\ \hline \end{array} \]