Question 101 Chapter 4 of +2-B

Question 101 Chapter 4 of +2-B

Miscellaneous (Analytical Questions)

101. (GP Ratio/Inventory T/O Ratio/Trade Receivable T/O Ratio) From the followings information calculate. (i) Gross Profit Ratio (ii) Inventory Turnover Ratio
(iii) Trade Receivable Turnover Ratio
Revenue from Operation ₹ 1,50,000, Cost of Revenue from Operation ₹ 1,20,000, Opening inventory ₹ 27,000, Closing inventory ₹ 33,000. Trade Receivables ₹ 14,000 Bills Receivable ₹ 6,000

 

The solution of Question 101 Chapter 4 of +2-B: – 

 

(a) Gross Profit Ratio=Gross ProfitX100
Net Sales
 =   
 =₹ 30,000X100
 ₹ 1,50,000
 =20%  

 

(ii) Inventory Turnover Ratio=Cost of goods sold
Average Inventory
 = 
 =₹ 1,20,000
 ₹ 30,000
 =4times
(iii) Trade Receivable Turnover Ratio=Net Credit Sales
Average Trade Receivable
 = 
 =₹ 1,50,000
 ₹ 20,000
 =7.5 times

 

Working Notes

Gross Profit=Net Sales – Cost of goods sold
 =₹ 1,50,000 – ₹ 1,20,000
 =₹ 30,000

 

Average Inventory=Opening Inventory + Closing Inventory
2
   
 =₹ 27,000 + 33,000
 2
 =₹ 30,000

 

Average Trade Receivable=Opening Trade Receivable + Closing Trade Receivable
2
   
 =₹ 14,000 + 6,000
 2
 =₹ 20,000


Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

  • Chapter No. 1 – Accounting Not for Profit Organisations

  • Chapter No. 2 – Partnership Accounts – I

  • Chapter No. 3 – Partnership Accounts – II (Introduction)

  • Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)

  • Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)

  • Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)

  • Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)

  • Chapter No. 8 – Company Accounts (Share Capital)

  • Chapter No. 9 – Company Accounts (Issue of Debentures)

  • Chapter No. 10 – Company Accounts (Redemption of Debentures

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

  • Chapter No. 1 – Financial Statements of a Company (Balance Sheet Only)

  • Chapter No. 2 – Techniques of Financial Statement Analysis

  • Chapter No. 3 – Ratio Analysis 

  • Chapter No. 4 – Cash Flow Statement

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 3 min 225x300 - Question 101 Chapter 4 of +2-B  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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