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From the following information find out the missing figures and rewrite the Balance sheet: (15 MARKS) Current Ratio 2:1
Posted: Thu Dec 23, 2021 8:28 am
by answerhappygod
- From The Following Information Find Out The Missing Figures And Rewrite The Balance Sheet 15 Marks Current Ratio 2 1 1 (35.87 KiB) Viewed 70 times
From the following information find out the missing figures and rewrite the Balance sheet: (15 MARKS) Current Ratio 2:1 Acid Test Ratio 5:1 Reserves And Surplus are 50% of Equity Share Capital Long-Term Debts are 60% of Equity Stock Turnover Ratio is 10 Times Gross Profit Ratio on Sales is 20% Sales are 15,62,500 (25% cash sales) Closing Stock Is 50,000 more than Opening Stock Accumulated Depreciation is 1/6th of the original cost of Fixed Assets. BALANCE SHEET AS AT 31.3.2021 ₹ ASSETS LIABILITIES Hy EQUITY share capital ? FIXED ASSETS ? ? LESS: ACCUMULATED DEPRECIATION ? RESERVES & SURPLUS ? NET ASSETS ? LONG TERM LOANS 9,00,000 STOCK ? BANK OVERDRAFT 50,000 DEBTORS 2,00,000 CREDITORS ? CASH ? ? ?