From the following details, Prepare a Balance Sheet with as many details as possible.(a)Stock velocity2(b)Capital Turnover ratioFixed assets turnover ratio(d)Gross Profit turnover ratio25%(e)Debtors Velocity ( Months)2()Creditors Velocity ( days)72The gross profit was Rs. 90000. Reserves and Surplus amounted to Rs. 30000. Closingstock was Rs. 10000 in excess of opening stock.

Gross profit turnover ratio =Gross profitSales×100⇒25=90,000Sales× 100⇒Sales = 360,000.Cost of Goods…

From the following details, Prepare a Balance Sheet with as many details as possible. Stock velocity 2 Capital Turnover ratio Fixed assets turnover ratio 4 Gross Profit turnover ratio 25% Debtors Velocity ( Months) 2 () Creditors Velocity ( days) 72 The gross profit was Rs. 90000. Reserves and Surplus amounted to Rs. 30000. Closing stock was Rs. 10000 in excess of opening stock.

From the following details, Prepare a Balance Sheet with as many details as possible. Stock velocity 2 Capital Turnover ratio Fixed assets turnover ratio 4 Gross Profit turnover ratio 25% Debtors Velocity ( Months) 2 () Creditors Velocity ( days) 72 The gross profit was Rs. 90000. Reserves and Surplus amounted to Rs. 30000. Closing stock was Rs. 10000 in excess of opening stock.

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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