Comparative And Common Size Statements

01

PYQ 2025

medium

accountancy ID: cbse-cla

Which of the following voucher records outflow of money from the business?

1

Journal Voucher

2

Receipt Voucher

3

Contra Voucher

4

Payment Voucher

02

PYQ 2025

medium

accountancy ID: cbse-cla

From the following information of CN Ltd., prepare a common size Statement of Profit and Loss for the years ended 31st March, 2023 and 31st March, 2024 : Statement of Profit (in ₹) Particulars 2023-24 (₹) 2022-23 (₹) Revenue from Operations 40,00,000 20,00,000 Less: Purchase of Stock-in-Trade 8,00,000 4,00,000 Less: Other Expenses 4,00,000 2,00,000 Profit Before Tax 28,00,000 14,00,000 Less: Tax @ 50% 14,00,000 7,00,000 Net Profit After Tax 14,00,000 7,00,000

Particulars	2023–24 (₹)	2022–23 (₹)
Revenue from Operations	40,00,000	20,00,000
Less: Purchase of Stock-in-Trade	8,00,000	4,00,000
Less: Other Expenses	4,00,000	2,00,000
Profit Before Tax	28,00,000	14,00,000
Less: Tax @ 50%	14,00,000	7,00,000
Net Profit After Tax	14,00,000	7,00,000

Correct Option: (1)

Step 1: Compute Total Profit Before Tax For 2023-24: Gross Profit = ₹ 40,00,000 - ₹ 8,00,000 - ₹ 4,00,000 = ₹ 28,00,000 Tax = 50% \times ₹ 28,00,000 = ₹ 14,00,000 Profit After Tax = ₹ 14,00,000 For 2022-23: Gross Profit = ₹ 20,00,000 - ₹ 4,00,000 - ₹ 2,00,000 = ₹ 14,00,000 Tax = 50% \times ₹ 14,00,000 = ₹ 7,00,000 Profit After Tax = ₹ 7,00,000 Step 2: Common Size Statement Particulars 2023-24 (%) 2022-23 (%) Revenue from Operations 100.00 100.00 Purchase of Stock-in-Trade 20.00 20.00 Other Expenses 10.00 10.00 Profit Before Tax 70.00 70.00 Tax @ 50% 35.00 35.00 Profit After Tax 35.00 35.00 Explanation: All items are expressed as a percentage of Revenue from Operations (assumed as base = 100%). The profitability structure remained unchanged across both years.

03

PYQ 2025

medium

accountancy ID: cbse-cla

From the following information, prepare a Common Size Statement of Profit and Loss of QLM Ltd. for the year ended 31st March, 2023 and 31st March, 2024.

Correct Option: (1)

In a Common Size Statement, each item is expressed as a percentage of Revenue from operations . Given: Revenue from operations: ₹40,00,000 (2022-23), ₹50,00,000 (2023-24) Cost of revenue from operations: ₹20,00,000 (2022-23), ₹25,00,000 (2023-24) Other expenses: ₹4,00,000 (2022-23), ₹5,00,000 (2023-24) Tax Rate: 50% Step-wise Calculations: Gross Profit = Revenue - Cost of Revenue 2022-23: ₹40,00,000 - ₹20,00,000 = ₹20,00,000 2023-24: ₹50,00,000 - ₹25,00,000 = ₹25,00,000 Net Profit before tax = Gross Profit - Other Expenses 2022-23: ₹20,00,000 - ₹4,00,000 = ₹16,00,000 2023-24: ₹25,00,000 - ₹5,00,000 = ₹20,00,000 Tax @ 50% 2022-23: 50% of ₹16,00,000 = ₹8,00,000 2023-24: 50% of ₹20,00,000 = ₹10,00,000 Net Profit after Tax 2022-23: ₹16,00,000 - ₹8,00,000 = ₹8,00,000 2023-24: ₹20,00,000 - ₹10,00,000 = ₹10,00,000 Common Size Statement of Profit and Loss of QLM Ltd. for the years ended 31st March, 2023 and 2024 (as % of Revenue from Operations) Particulars 2022-23 (%) 2023-24 (%) Revenue from operations (Base) Cost of revenue from operations Gross Profit Other expenses Net Profit before Tax Tax (50%) Net Profit after Tax

Particulars	2022–23 (%)	2023–24 (%)
Revenue from operations (Base)	$100.00$	$100.00$
Cost of revenue from operations	$50.00$	$50.00$
Gross Profit	$50.00$	$50.00$
Other expenses	$10.00$	$10.00$
Net Profit before Tax	$40.00$	$40.00$
Tax (50%)	$20.00$	$20.00$
Net Profit after Tax	$20.00$	$20.00$

04

PYQ 2025

medium

accountancy ID: cbse-cla

The following information has been obtained from the books of Vivek Ltd.: Particulars Amount (₹)10% DebenturesCurrent LiabilitiesNon-Current AssetsCurrent Assets During the year ended 31st March, 2024, net profit after interest and tax amounted to \rupee4,10,000. Tax paid was \rupee40,000. Calculate Return on Investment (ROI).

Chapter Questions
4 MCQs