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Question No 11 Chapter 6 – UNIMAX Class 12 Part 2 – 2021
From the following information of Jaskirat Steels Ltd. prepare comparative income statement.
| Particulars | 2022 | 2021 |
| Gross profit | 4,00,000 | 3,00,000 |
| Sales return ` | 8,000 | 20,000 |
| Direct expenses | 1,92,000 | 1,40,000 |
| Indirect expenses | 50,000 | 40,000 |
| Non-operating expenses | 8,000 | 10,000 |
| Non-operation income | 5,000 | 5,000 |
| Income tax | 48,900 | 28,500 |
The solution of Question No 11 Chapter 6 – UNIMAX Class 12 Part 2 – 2021: –
Comparative Balance Sheet of Profit & Loss of Jaskirat Steels Ltd.
As At 31-3-2021 and 31-3-2022
| Particulars | note No | 2021 A | 2022 B | Absolute change B-A =C Advertisement | Percentage change C/A |
| Revenue form operations | 2,80,000 | 3,92,000 | 1,12,000 | 40.00 | |
| Add other income | 5,000 | 5,000 | Nil | Nil | |
| Total revenue | 2,85,000 | 3,97,000 | 1,12,000 | 39.29 | |
| Less expenses: | |||||
| Direct expenses | 1,40,000 | 1,92,000 | 52,000 | 37.14 | |
| Indirect expenses | 40,000 | 50,000 | 10,000 | 25.00 | |
| Non-operating expenses | 10,000 | 8,000 | (2,000) | 20.00 | |
| Total expenditure | 1,90,000 | 2,50,000 | 60,000 | 31.58 | |
| Net Profit before tax | 95,00 | 1,47,000 | 52,000 | 54.74 | |
| Less income tax | 28,500 | 48,900 | 20,400 | 71.58 | |
| Net Profit after tax | 66,500 | 98,100 | 31,600 | 47.52 |
Working note:
| Net sales for year 2021 | = G. sale – Sales return |
| = 3,00,000 – 20,000 = 2,80,000 | |
| Net Sales for the year 2022 | = 4,00,000 -8,000 = 3,92,000 |
End of Solution
Check Out the Solution of all questions for this chapter:
The solution to all questions of Chapter No. 6 – Tools or Methods of Financial Analysis Class 12 Unimax is shown as follows, click on the image of the question to get the solution.
Question No 07 Chapter 6 – UNIMAX Class 12 Part 2 – 2021
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Question No 19 Chapter 6 – UNIMAX Class 12 Part 2 – 2021
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Question No 31 Chapter 6 – UNIMAX Class 12 Part 2 – 2021
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Check out all books for PSEB
1. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 1 Class 12 by Unimax
UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy Part 1 in Class 12. With their meticulously curated study material, students can access comprehensive solutions to all the questions in each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 12 examinations.
- Chapter No. 1 – Accounts of Non-Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Basic Concepts)
- Chapter No. 3 – Partnership Accounts – II (Goodwill)
- Chapter No. 4 – Partnership Accounts – III (Change in Profit Sharing Ratio among Existing Partners)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
2. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 2 Class 12 by Unimax
UnimaxSolutions.in presents an exceptional resource for students studying Advanced Accountancy Part 2 in Class 12. With their comprehensive study material, students can conveniently access extensive solutions to all the questions in each chapter. By simply selecting the desired chapter from the study material, students can effortlessly navigate through the topics and gain access to detailed explanations and step-by-step solutions to every problem presented in that particular section. Whether it involves understanding intricate accounting principles, honing calculation techniques, or analyzing complex financial statements, Unimax provides a valuable tool to support students in their learning journey. Equipped with these comprehensive solutions, students can enhance their comprehension, resolve any uncertainties, and strengthen their problem-solving abilities in Advanced Accountancy, empowering them to excel in their Class 12 examinations with confidence.
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Issue of Debentures
- Chapter No. 3 – Redemption of Debentures
- Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 5 -Financial Statement Analysis
- Chapter No. 6 – Tools/Methods of Financial Analysis
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
Punjab School Education Board (PSEB) Solutions of Usha Publication.
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