CBSE Class 12 Accountancy Partnership Common Size And Comparative Statements Notes

Hint: Direct expenses are ignored since they are already included in the cost of goods sold.

Prepare a Comparative Income Statement from the following information

Question--

Solution 3.

Comparative Income Statement

for the years ended on 31st March 2009 and 2010

Note: Wages is a direct expense. It is ignored because it is already included in the cost of goods sold.

1. From the following details make out a comparative and common size statements:

Particulars                                  2011 `         2012 `

Revenue from operations           16,00,000      20,00,000

Cost of Goods Sold                    8,00,000        10,00,000

Indirect Expenses                     2,00,000         1,00,000

Tax rate 40%

Solution:

Comparative Income Statement

2. Prepare a comparative and common size income statement with the help of the following information:

Particulars                            2011 `           2012 `

Revenue from operations       8,00,000        10,00,000

Cost of material                     4,00,000       6,00,000

Employee benefit expense      1,50,000        2,00,000

Provision for Tax                   1,00,000         1,30,000

Solution:

Comparative Income Statement 

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