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

Question

Alfa Ltd. offered for public subscription 50,000 equity shares of ₹ 10 each at ₹ 110 per share. The entire amount was payable on application. Applications were received for 48,000 shares and allotment was made to all the applicants. The amount received on application will be:

Answer 1

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

Show Hint

Solution and Explanation

Top Questions on Miscellaneous

Questions Asked in CBSE Class XII exam