ended 31st March, 2020 and Balance Sheet as at that L.F. Dr. Balance () Cr. Balance ) Heads of Accounts 5,00,000 Capital Plant and Machinery Land and Building 1,00,000 1,20,000 9,00,000 50,000 30,000 Sales Furniture and Fixtures Trade Expenses Cash at Bank 2,50,000 60,000 10,000 6,00,000 2,00,000 1,00,000 Wages and Salaries Repairs Purchases Opening Stock Sundry Debtors Sundry Creditors Purchases Return 1,20,000 S.. 10,000 ... 12,000 w.. Rent 8,000 Discount 10,000 Drawings 40,000 w.. Bills Receivable 30,000 ... Bills Payable 4,000 Bad Debts 10,000 ... Interest 10,000 Input CGST A/c Input SGST A/c nput IGST A/c Dutput CGST A/c Dutput SGST A/c Dutput IGST A/c 10,000 5,000 5,000 ... 5,000 ... 15,000 16,07,000 16.07,000 Total

ended 31st March, 2020 and Balance Sheet as at that L.F. Dr. Balance () Cr. Balance ) Heads of Accounts 5,00,000 Capital Plant and Machinery Land and Building 1,00,000 1,20,000 9,00,000 50,000 30,000 Sales Furniture and Fixtures Trade Expenses Cash at Bank 2,50,000 60,000 10,000 6,00,000 2,00,000 1,00,000 Wages and Salaries Repairs Purchases Opening Stock Sundry Debtors Sundry Creditors Purchases Return 1,20,000 S.. 10,000 ... 12,000 w.. Rent 8,000 Discount 10,000 Drawings 40,000 w.. Bills Receivable 30,000 ... Bills Payable 4,000 Bad Debts 10,000 ... Interest 10,000 Input CGST A/c Input SGST A/c nput IGST A/c Dutput CGST A/c Dutput SGST A/c Dutput IGST A/c 10,000 5,000 5,000 ... 5,000 ... 15,000 16,07,000 16.07,000 Total

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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Subject:- Account
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signment #7 (Chapter 3) Due 7 April 2024 Saved Help $550,000; You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $340,000; accounts receivable = $1,300,000; inventory = $2,200,000; accrued wages and taxes = accounts payable $850,000; and notes payable = $700,000. = Calculate SophieLex's current ratio, quick ratio, and cash ratio. Note: Round your answers to 2 decimal places. Current ratio Quick ratio Cash ratio times times times W
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