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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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