Question 106 Chapter 4 of +2-B - USHA Publication 12 Class

Question 106 Chapter 4 of +2-B

Miscellaneous (Analytical Questions)

106. (Stock T/O Ratio/C.A./Stock) From the given information, calculate the stock turnover ratio.
(a) Sales (Revenue from Operations) ₹ 3,00,000, Gross profit 25% on cost. Opening Stock was 1/3rd of the value of the closing stock. The closing stock was 30% of sales.
(b) A business has a current ratio of 3: 1 and a quick ratio of 1.2: 1. If the working capital is ₹ 1,50,000. Calculate the total current Assets and stock.

The solution of Question 106 Chapter 4 of +2-B: –

(a) Stock Turnover Ratio	=	Cost of Goods Sold
(a) Stock Turnover Ratio	=	Average Stock

	=	₹ 2,40,000
	=	₹ 60,000
	=	4 times

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Working Notes :
Calculation of Cost of goods Sold :

Gross Profit	=	25% on Costs
Sales	=	₹ 3,00,000
Cost Price	=	₹ 100
Gross Profit	=	₹ 25
Sale Price	=	₹ 125

Gross Profit	=	Price	X	Sales
Gross Profit	=	Sale Price	X	Sales

	=	₹ 25	X	₹ 3,00,000
	=	₹ 125	X	₹ 3,00,000
	=	₹ 60,000
Cost of goods sold	=	Sales – Gross Profit
	=	₹ 3,00,000 – ₹ 60,000
	=	₹ 2,40,000
(b) Working Capital	=	Current Assets – Current Liabilities
Current Ratio	=	3 : 1
Working Capital	=	3-1
Working Capital	=	2
If Working Capital 2 then Current Assets	=	3
	=	3	x	₹ 1,50,000
	=	2	x	₹ 1,50,000
	=	₹ 25,000
Working Capital	=	Current Assets – Current Liabilities
₹ 1,50,000	=	₹ 2,25,000 – Current Liabilities
	=	₹ 2,25,000 – ₹ 1,50,000
	=	₹ 75,000
Quick Ratio	=	1.2: 1
1.2 : 1	=	Quick Assets
	=	Current Liabilities
	=	Quick Assets
	=	₹ 75,000
Quick Assets	=	₹ 75,000 x 1.2
	=	₹ 90,000
Inventory	=	Current Assets – Quick Assets
	=	₹ 2,25,000 – ₹ 90,000
	=	₹ 1,35,000

End of Solution

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