Prepare comparative profit-loss statements from the following profit-l – InterviewSolution

1.

Prepare comparative profit-loss statements from the following profit-loss statements of Binali Ltd. for the year ending on 31-3-2018 and 31-3-2019.Summarised Profit-Loss statements for the year ending on 31-3-’18 and 31-3-’19ParticularsNote No.31-3-2019(₹)31-3-2018(₹)Sales revenue18,00,00016,00,000Other income4,00,0003,50,000Expenses9,60,0008,00,000Income tax rate is 30%

Answer»

Particulars	Increase/Decrease(₹)	Increase/Decrease (%)
(I) Sides revenue	2,00,000	12.50
(II) Other income	50,000	14.29
(III) Total income	2,50,000	12.82
(IV) Expenses	1,60,000	20.00
(V) Profit before tax	90,000	7.83
(VII) Less: Income tax (30%)	27,000	7.83
(V) Profit after tax	63,000	7.83

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