Question

From the following information, prepare Comparative Statement of Profit and Loss for the year ended 31^st March, 2023: $$\begin{array}{|l|r|r|} \hline \text{Particulars} & 2022\text{--}23 (\text{₹}) & 2021\text{--}22 (\text{₹}) \\ \hline \text{Revenue from operations} & 4,00,000 & 2,00,000 \\ \text{Other income} & 80,000 & 40,000 \\ \text{Employee benefit expenses} & 2,00,000 & 1,00,000 \\ \text{Tax rate} & 50\% & 50\% \\ \hline \end{array}$$

Hint:

N/A

Answer 1

$$\begin{array}{|l|r|r|r|} \hline \textbf{Particulars} & \textbf{2022--23 (\text{₹})} & \textbf{2021--22 (\text{₹})} & \textbf{\% Change} \\ \hline \text{Revenue from operations} & 4,00,000 & 2,00,000 & 100\% \\ \text{Other income} & 80,000 & 40,000 & 100\% \\ \text{Total Income} & 4,80,000 & 2,40,000 & 100\% \\ \text{Employee benefit expenses} & 2,00,000 & 1,00,000 & 100\% \\ \text{Profit before tax} & 2,80,000 & 1,40,000 & 100\% \\ \text{Tax (50\%)} & 1,40,000 & 70,000 & 100\% \\ \text{Profit after tax} & 1,40,000 & 70,000 & 100\% \\ \hline \end{array}$$