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Complete the… (Class 12 Accountancy SQP 2024-25, Q32)

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AccountancyCBSE Class 12 · Sample paper, session 2024-25 · 3 marks · Short answer

CBSE Class 12 Accountancy sample paper 2024-25: question 32

From the official CBSE sample question paper for 2024-25, section B-I, question 32, for 3 marks. Try it first; the hints and our step-by-step solution are below.

Q32 · 3 marks · Short answerAnalysis of Financial Statements

Complete the Comparative Statement of Profit and Loss:

Particulars2022-232023-24Absolute change% change
Revenue from Operations16,00,00020,00,000??
Less: Employees Benefit Expenses8,00,000??25%
Less: Other Expenses2,00,000?(1,00,000)?
Profit before tax6,00,000??50%
Tax @30%??90,000?
Profit after tax4,20,000?2,10,000?

Source: official sample paper from cbseacademic.nic.in (PDF). See it in the full Sample paper 2024-25.

Hints

Open one hint at a time and try again before the next.

Hint 1

Work row by row from the given percentage or absolute change.

Hint 2

Tax is 30% of profit before tax in each year.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. Revenue: change ₹ 4,00,000 = 25%. Employee benefit expenses up 25%: ₹ 10,00,000 (change ₹ 2,00,000). Other expenses fall ₹ 1,00,000 to ₹ 1,00,000 (−50%).

    1 mark

  2. Profit before tax 2023-24 = 20,00,000 − 10,00,000 − 1,00,000 = ₹ 9,00,000 (change ₹ 3,00,000, 50%). Tax at 30%: ₹ 1,80,000 and ₹ 2,70,000 (change ₹ 90,000, 50%). Profit after tax ₹ 4,20,000 and ₹ 6,30,000 (change ₹ 2,10,000, 50%).

    1 mark

  3. Comparative Statement of Profit and Loss

    Particulars2022-23 (₹)2023-24 (₹)Absolute change (₹)% change
    Revenue from Operations16,00,00020,00,0004,00,00025
    Less: Employee Benefit Expenses8,00,00010,00,0002,00,00025
    Less: Other Expenses2,00,0001,00,000(1,00,000)(50)
    Profit before tax6,00,0009,00,0003,00,00050
    Tax @ 30%1,80,0002,70,00090,00050
    Profit after tax4,20,0006,30,0002,10,00050
    1 mark

Answer: Employee expenses ₹ 10,00,000; other expenses ₹ 1,00,000 (−50%); PBT ₹ 9,00,000; tax ₹ 1,80,000 and ₹ 2,70,000; PAT ₹ 6,30,000 (+50%)

Where the marks are

  • Expense figures (1 mark)
  • Profit and tax figures (1 mark)
  • Completed statement (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Analysis of Financial Statements, one at a time, marked against the answer key and marking points.Back to the full paperSample paper 2024-25: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.