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Question No 64 Chapter 7 – UNIMAX Class 12 Part 2 – 2021
64. With the help of information given below calculate (1) Opening ratio, (2) Current ratio, (3) Stock turnover ratio, (4) Proprietary ratio:
| Particulars | ₹ |
| Sales | 5,00,000 |
| Opening stock | 40,000 |
| purchases | 2,30,000 |
| Carriage inward | 10,000 |
| Closing stock | 60,000 |
| 9% preference share capital | 4,00,000 |
| Securities premium | 30,000 |
| General reserve | 10,000 |
| Other current assets | 1,10,000 |
| Current liabilities | 1,80,000 |
| Fixed assets | 3,50,000 |
| Operating expenses | 25,000 |
| (I) C.O.G.S | = | opening stock + net purchases + direct expenses – closing stocks |
| = | 40,000 + 2,30,000 + 10,000 – 60,000 | |
| = | 2,20,000 | |
| Operating cost | = | C.O.G.S. + operating expenses |
| = | 2,20,000 + 25,000 | |
| = | 2,42,000 |
| Operating ratio | = | Operating cost | X | 100 |
| Net sales |
| = | 2,42,000 | X | 100 |
| 5,00,000 | |||
| = | 49% Ans. |
| (ii) Quick Ratio | = | Quick assets |
| Current liabilities |
| = | 1,10,000 |
| 1,80,000 | |
| = | 0.611 : 1 Ans. |
| (iii) Average stock | = | Opening stock + Closing stock |
| 2 |
| = | 40,000 +60,000 |
| 2 |
| = | 1,00,000 |
| 2 |
| = | ₹ 50,000 | |
| C.O.G.S. | = | ₹ 2,20,000 |
|
Stock turnover ratio |
= | C.O.G.S |
| Average stock |
| = | 2,20,000 |
| 50,000 | |
| = | 4.4 times Ans. |
| (iv) Total assets | = | fixed assets + total liabilities |
| = | 3,50,000 + 1,10,000 + 60,000 | |
| = | 5,20,000 | |
| Shareholders funds | = | preference capital + securities premium + general reserve |
| = | 4,00,000 + 30,000 + 10,000 | |
| = | 4,40,000 |
| = | Shareholders funds | X | 100 |
| Total assets |
| = | 4,40,000 | X | 100 |
| 5,20,000 | |||
| = | 84.6 % Ans. |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question No 64 Chapter 7 – UNIMAX Class 12 Part 2 – 2021", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax Accountancy Class 12 Part 2 - 2023.
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