From the following information prepare balance sheet of NCP Ltd. as on 31st March 2013 : Stock velocity = 6 times Fixed asset turnover ratio = 4 Capital asset turnover ratio = 2 Gross profit ratio = 20% Debt collection period = 2 months Creditors payment period = 73 days Gross profit = Z 60,000 Closing stock is Z 5,000 in excess of opening stock. All working for the part of your
From the following information prepare balance sheet of NCP Ltd. as on 31st March 2013 : Stock velocity = 6 times Fixed asset turnover ratio = 4 Capital asset turnover ratio = 2 Gross profit ratio = 20% Debt collection period = 2 months Creditors payment period = 73 days Gross profit = Z 60,000 Closing stock is Z 5,000 in excess of opening stock. All working for the part of your
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
From the following information prepare
of NCP Ltd. as on 31st March 2013 :
Stock velocity = 6 times
Fixed asset turnover ratio = 4
Capital asset turnover ratio = 2
Gross profit ratio = 20%
Debt collection period = 2 months
Creditors payment period = 73 days
Gross profit = Z 60,000
Closing stock is Z 5,000 in excess of opening stock.
All working for the part of your answer.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education