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2.6 Management Accounting (Section B)—ISC XII

Illustration 5.
From the Statement of Profit and Loss, prepare Comparative Income Statement of Exe Ltd.:

Particulars Note No. 31st March, 31st March,
2019 2018
` `
I. Income
Revenue from Operations 33,00,000 30,00,000
Other Income 60,000 60,000
Total 33,60,000 30,60,000
II. Expenses
Purchases of Stock-in-Trade 24,00,000 23,00,000
Change in Inventory of Stock-in-Trade 1,20,000 1,00,000
Employees Benefit Expenses 90,000 70,000
Finance Costs 60,000 60,000
Other Expenses 90,000 80,000
Total 27,60,000 26,10,000
III. Profit (I – II) 6,00,000 4,50,000
IV. Less: Tax 3,00,000 2,25,000
V. Profit after Tax (III – IV) 3,00,000 2,25,000

Solution: Exe Ltd.
COMPARATIVE INCOME STATEMENT OR COMPARATIVE STATEMENT OF PROFIT AND LOSS
for the years ended 31st March, 2019 and 2018
Particulars Note 31st March, 31st March, Absolute Percentage
No. 2019 2018 Change Change
(Increase/ (Increase/
Decrease) Decrease)
` ` ` %
I. Revenue from Operations 33,00,000 30,00,000 3,00,000 10.00
II. Other Income 60,000 60,000 ... ...
III. Total Revenue 33,60,000 30,60,000 3,00,000 9.80
IV. Expenses
Purchases of Stock-in-Trade 24,00,000 23,00,000 1,00,000 4.35
Change in Inventory of Stock-in-Trade 1,20,000 1,00,000 20,000 20.00
Employees Benefit Expenses 90,000 70,000 20,000 28.57
Finance Costs 60,000 60,000 ... ...
Other Expenses 90,000 80,000 10,000 12.50
Total Expenses 27,60,000 26,10,000 1,50,000 5.75
V. Profit before Tax (III – IV) 6,00,000 4,50,000 1,50,000 33.33
VI. Less: Tax 3,00,000 2,25,000 75,000 33.33
VII. Profit after Tax (V – VI) 3,00,000 2,25,000 75,000 33.33