Homework Help is Here – Start Your Trial Now!
Business
Accounting
3. Complete the Statement of Financial Position (Balance Sheet) given below, by filling up the missing values and comment on the calculated Current Asset Ratio and Gearing Ratio. XYZ's Household Balance Sheet as on 31st December 2021 Assets Cash and current account balance Savings account balance(s) Debts owed to XYZ and repayable within a year Other liquid assets Total short term assets Home Other land and buildings Car(s) C Household and personal possessions Shares and share-based investment funds Bondbased investment funds Paintings, Antiques etc. Debts owed to XYZ and not repayable within a year Total other assets E Total assets Net worth Current asset ratio G=C+E G-H C/D Amount(AED) Liabilities 25,000 Bills XYZ owe 20,000 Credit card(s) 5,000 Overdraft 10,000 Loan balances repayable within a year Other short-term liabilities Total short-term liabilities 100,000 Mortgage balance on home 80,000 Other mortgages 60,000 Other loans repayable over more than one year 20,000 Other Liabilities 5,000 6,000 3,000 2,000 Total other liabilities Total liabilities D Gearing Ratio(percentage) F H=D+F (H/G) x 100 Amount (AED) 15,000 5,000 2,500 15,000 2,000 25,000 3,000 6,000 1,000

3. Complete the Statement of Financial Position (Balance Sheet) given below, by filling up the missing values and comment on the calculated Current Asset Ratio and Gearing Ratio. XYZ's Household Balance Sheet as on 31st December 2021 Assets Cash and current account balance Savings account balance(s) Debts owed to XYZ and repayable within a year Other liquid assets Total short term assets Home Other land and buildings Car(s) C Household and personal possessions Shares and share-based investment funds Bondbased investment funds Paintings, Antiques etc. Debts owed to XYZ and not repayable within a year Total other assets E Total assets Net worth Current asset ratio G=C+E G-H C/D Amount(AED) Liabilities 25,000 Bills XYZ owe 20,000 Credit card(s) 5,000 Overdraft 10,000 Loan balances repayable within a year Other short-term liabilities Total short-term liabilities 100,000 Mortgage balance on home 80,000 Other mortgages 60,000 Other loans repayable over more than one year 20,000 Other Liabilities 5,000 6,000 3,000 2,000 Total other liabilities Total liabilities D Gearing Ratio(percentage) F H=D+F (H/G) x 100 Amount (AED) 15,000 5,000 2,500 15,000 2,000 25,000 3,000 6,000 1,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please do not give solution in image format ? And Fast Answering Please ? And Explain Proper Step by Step.

3. Complete the Statement of Financial Position (Balance Sheet) given below, by filling up the missing values and comment on the calculated Current Asset Ratio and Gearing Ratio. XYZ's Household Balance Sheet as on 31st December 2021 Assets Cash and current account balance Savings account balance(s) Debts owed to XYZ and repayable within a year Other liquid assets Total short term assets Home Other land and buildings Car(s) C Household and personal possessions Shares and share-based investment funds Bondbased investment funds Paintings, Antiques etc. Debts owed to XYZ and not repayable within a year Total other assets E Total assets Net worth Current asset ratio G=C+E G-H C/D Amount(AED) Liabilities 25,000 Bills XYZ owe 20,000 Credit card(s) 5,000 Overdraft 10,000 Loan balances repayable within a year Other short-term liabilities Total short-term liabilities 100,000 Mortgage balance on home 80,000 Other mortgages 60,000 Other loans repayable over more than one year 20,000 Other Liabilities 5,000 6,000 3,000 2,000 Total other liabilities Total liabilities D Gearing Ratio (percentage) F H=D+F (H/G) x 100 Amount (AED) 15,000 5,000 2,500 15,000 2,000 25,000 3,000 6,000 1,000
Transcribed Image Text:3. Complete the Statement of Financial Position (Balance Sheet) given below, by filling up the missing values and comment on the calculated Current Asset Ratio and Gearing Ratio. XYZ's Household Balance Sheet as on 31st December 2021 Assets Cash and current account balance Savings account balance(s) Debts owed to XYZ and repayable within a year Other liquid assets Total short term assets Home Other land and buildings Car(s) C Household and personal possessions Shares and share-based investment funds Bondbased investment funds Paintings, Antiques etc. Debts owed to XYZ and not repayable within a year Total other assets E Total assets Net worth Current asset ratio G=C+E G-H C/D Amount(AED) Liabilities 25,000 Bills XYZ owe 20,000 Credit card(s) 5,000 Overdraft 10,000 Loan balances repayable within a year Other short-term liabilities Total short-term liabilities 100,000 Mortgage balance on home 80,000 Other mortgages 60,000 Other loans repayable over more than one year 20,000 Other Liabilities 5,000 6,000 3,000 2,000 Total other liabilities Total liabilities D Gearing Ratio (percentage) F H=D+F (H/G) x 100 Amount (AED) 15,000 5,000 2,500 15,000 2,000 25,000 3,000 6,000 1,000
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS