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 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
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Chapter No. 1 – Accounting Not for Profit Organisations
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Chapter No. 2 – Partnership Accounts – I
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Chapter No. 3 – Partnership Accounts – II (Introduction)
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Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)
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Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)
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Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)
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Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)
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Chapter No. 8 – Company Accounts (Share Capital)
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Chapter No. 9 – Company Accounts (Issue of Debentures)
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Chapter No. 10 – Company Accounts (Redemption of Debentures
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
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Chapter No. 1 – Financial Statements of a Company (Balance Sheet Only)
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Chapter No. 2 – Techniques of Financial Statement Analysis
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Chapter No. 3 – Ratio Analysis
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Chapter No. 4 – Cash Flow Statement
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