Question 103 Chapter 4 of +2-B - USHA Publication 12 Class

Question 103 Chapter 4 of +2-B

Miscellaneous (Analytical Questions)

103. (Current Ratio/Acid Test Ratio/Operating Ratio/GP Ratio) Calculate the following ratios, from the details given below :
(i) Current ratio ; (ii) Acid-test ratio ;
(iii) Operating ratio; and (iv) Gross profit ratio.
Details

	₹
Current assets	70,000
Current liabilities	35,000
Inventory	30,000
Sales (Revenue from Operation)	1,20,000
Operating expenses	40,000
Cost of goods sold	60,000

The solution of Question 103 Chapter 4 of +2-B: –

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(i) Current Ratio	=	Current Assets
(i) Current Ratio	=	Current Liabilities
	=
	=	₹ 70,000
	=	₹ 35,000
	=	2 : 1

(ii) Acid test Ratio	=	Quick Assets
(ii) Acid test Ratio	=	Current Liabilities
	=
	=	₹ 40,000
	=	₹ 35,000
	=	1.14 : 1

(iii) Operating Ratio	=	Operating Cost	X	100
		Net Sales
	=
	=	₹ 1,00,000	X	100
		₹ 1,20,000
	=	83.33%

(iv) Gross Profit Ratio	=	Gross Profit	X	100
		Net Sales
	=
	=	₹ 60,000	X	100
		₹ 1,20,000
	=	50%

Working Notes

Quick Assets	=	Current Assets – Inventory
	=	₹ 70,000 – ₹ 30,000
	=	₹ 40,000
Operating Cost	=	Cost of goods sold + Operating Expenses
	=	₹ 60,000 + ₹ 40,000
	=	₹ 1,00,000
Gross Profit	=	Sales – Cost of goods sold
	=	₹ 1,20,000 – ₹ 60,000
	=	₹ 60,000

End of Solution

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Chapter No. 8 – Company Accounts (Share Capital)

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Chapter No. 14 – Accounting Ratios

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