Prepare a Vertical Common Size Income Statement from the following Profit and Loss Account XYZ Ltd. for the three consecutive years and offer your comments. Particulars2017-182018-192019-20Rs.Rs.Rs.To Opening Stock182,000210,000252,000To Purchases1,918,0002,382,8002,844,800To Administration Expenses252,000323,400400,400To Selling Expenses126,000169,400218,400To Debenture Interest25,20025,20025,200To Depreciation21,00028,00035,000To Provision for Taxation102,90096,60079,100To Net Profit c/d.102,90096,60079,100 2,730,0003,332,0003,934,000By Sales: Cash630,000627,200728,000 Credit1,890,0002,452,8002,912,000 2,520,0003,080,0003,640,000By Closing Stock210,000252,000294,000 2,730,0003,332,0003,934,000 Dont give hand written answers plz

The Statement of Comprehensive Income - The statement of comprehensive income is the profit earned…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Prepare a Vertical Common Size Income Statement from the following Profit and Loss Account XYZ Ltd. for the three consecutive years and offer your comments.

Particulars	2017-18	2018-19	2019-20
Rs.	Rs.	Rs.
To Opening Stock	182,000	210,000	252,000
To Purchases	1,918,000	2,382,800	2,844,800
To Administration Expenses	252,000	323,400	400,400
To Selling Expenses	126,000	169,400	218,400
To Debenture Interest	25,200	25,200	25,200
To Depreciation	21,000	28,000	35,000
To Provision for Taxation	102,900	96,600	79,100
To Net Profit c/d.	102,900	96,600	79,100
	2,730,000	3,332,000	3,934,000
By Sales: Cash	630,000	627,200	728,000
Credit	1,890,000	2,452,800	2,912,000
	2,520,000	3,080,000	3,640,000
By Closing Stock	210,000	252,000	294,000
	2,730,000	3,332,000	3,934,000