CBSE Class 12 Accountancy - Accounting Ratios

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CBSE Class 12 Accountancy - Accounting Ratios

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ACCOUNTING RATIOS

1. Calculate the liquidity ratios and comment on the short term financial position of the company from the following information: Rs.

Closing Inventory 2,00,000

Trade Receivables

Less: Provision for Doubtful Debts 1,00,000

Cash 30,000

Marketable Securities 20,000

Income Tax Paid in Advance 10,000

Share Issue Expenses 15,000

Liability for current taxation 20,000

Liability for Future Taxation 30,000

Trade Payables 34,000

Outstanding Salaries 5,000

Bank Overdraft 25,000

Dividends Payable 36,000

2. Assuming that the current ratio is 2:1, state giving reasons, which of the following transactions would (i) improve, (ii) reduce, or (iii) not alter, the current ratio:

(a) Cash collected from trade receivables

(b) B/R received from trade receivables

(c) B/R endorsed to trade payables

(d) B/R dishonoured

(e) Sale of inventories at par for cash

(f) Sale of inventories at profit for cash

(g) Sale of inventories at profit on credit

(h) Sale of a fixed asset on a credit of 2 months.

(i) Sale of a fixed asset on long term deferred payment basis

(j) Issue of new shares against purchase of fixed asset

3. A firm had current assets of Rs.2,00,000. Ot then paid a current liability of Rs.40,000. After this payment the current ratio was 2:1. Determine:

(a) The size of current liabilities and working capital after the payment

(b) Also determine the size of these two items before the payment was made.

4. The current assets pf Monarch Company are Rs. 29,745 and the current ratio is 1.5. The inventories stood at Rs.8,827. Calculate the liquid ratio and comment on the liquidity position of the company.

5. From the given information, calculate the inventory turnover ratio:

Revenue from operations Rs.2,00,000; GP : 25% on cost; Opening inventory was 1/3rd of the

value of Closing Inventory. Closing Inventory was 30% of Revenue from Operations.

6. Calculate the amount of Opening and Closing Trade receivables from the following:

Trade Receivables Turnover Ratio : 6 Times

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