From the following information, prepare the projected Trading and Profit and Loss Account for the next financial year en

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From The Following Information Prepare The Projected Trading And Profit And Loss Account For The Next Financial Year En 1 (79.32 KiB) Viewed 27 times

From the following information, prepare the projected Trading and Profit and Loss Account for the next financial year ending March 31, 1998 and the projected Balance Sheet as on that date: Ratio of Gross Profit 25% Net Profit to Equity Capital 10% Stock Turnover Ratio 5 times 2months Average Debt Collection Period Creditors Velocity 2months Current Ratio 200% Proprietary Ratio 80% (Fixed Assets to Capital Employed) Capital Gearing Ratio 30% (Pref. Shares and Debentures to Equity) General Reserve and Profit and Loss to issued Equity Capital 25% Preference Share Capital to Debentures 2 Cost of Sales consists of 40% for materials and balance for Wages and Overheads. Gross Profit $. 6,00,000. Working notes should be clearly Shown.