Question 101 Chapter 4 of +2-B – USHA Publication 12 Class

Q-101- CH-4 Book 2 - Usha Pub. +2 Book 2020 - Solution

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
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 Profit X 100 Net Sales = = ₹ 30,000 X 100 ₹ 1,50,000 = 20%

 (ii) Inventory Turnover Ratio = Cost of goods sold Average Inventory = = ₹ 1,20,000 ₹ 30,000 = 4 times
 (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

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