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2. From the following details prepare a statement of proprietary fund with as many details as possible. 1) Stock velocity 6 2) Capital turnover ratio 2 3) Fixed assets turnover ratio 4 4) Gross profit turnover ratio 20% 5) Debtor's velocity 2 months 6) Creditor's velocity 73 days Gross profit was rs 60000. Reserves and surplus amount to 20000. Closing stock was rs 5000 in excess of opening stock.

2. From the following details prepare a statement of proprietary fund with as many details as possible. 1) Stock velocity 6 2) Capital turnover ratio 2 3) Fixed assets turnover ratio 4 4) Gross profit turnover ratio 20% 5) Debtor's velocity 2 months 6) Creditor's velocity 73 days Gross profit was rs 60000. Reserves and surplus amount to 20000. Closing stock was rs 5000 in excess of opening stock.

FINANCIAL ACCOUNTING
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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2. From the following details prepare a statement of proprietary fund with as many details as possible. 1) Stock velocity 6 2) Capital turnover ratio 2 3) Fixed assets turnover ratio 4 4) Gross profit turnover ratio 20% 5) Debtor's velocity 2 months 6) Creditor's velocity 73 days Gross profit was rs 60000. Reserves and surplus amount to 20000. Closing stock was rs 5000 in excess of opening stock. 3. From the following information for last 12 months compute the I. Re-order level II. Minimum level III. Maximum level IV. Average stock level for the components of X and Y Particulars Components X Y Maximum consumption in a month Minimum consumption in a month Average consumption in a month Re-order period in a month Re-order quantity in units 3000 3000 2000 2000 1000 1000 8 to 12 4 to 8 8000 12000
Transcribed Image Text:2. From the following details prepare a statement of proprietary fund with as many details as possible. 1) Stock velocity 6 2) Capital turnover ratio 2 3) Fixed assets turnover ratio 4 4) Gross profit turnover ratio 20% 5) Debtor's velocity 2 months 6) Creditor's velocity 73 days Gross profit was rs 60000. Reserves and surplus amount to 20000. Closing stock was rs 5000 in excess of opening stock. 3. From the following information for last 12 months compute the I. Re-order level II. Minimum level III. Maximum level IV. Average stock level for the components of X and Y Particulars Components X Y Maximum consumption in a month Minimum consumption in a month Average consumption in a month Re-order period in a month Re-order quantity in units 3000 3000 2000 2000 1000 1000 8 to 12 4 to 8 8000 12000
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