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Question 141 Chapter 4 of +2-B – T.S. Grewal 12 Class

Question 141 Chapter 4 of +2-B
Question No. 141- Chapter No.4 - T.S. Grewal +2 Book Part B

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Question 141 Chapter 4 of +2-B

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Miscellaneous

141Calculate following ratios on the basis of the given information:
(i)Current Ratio;
(ii)Acid Test Ratio;
(iii)Operating Ratio; and
(iv)Gross Profit Ratio.

 Rs  Rs
Current Assets70,000Revenue from Operations Sales1,20,000
Current Liabilities35,000Operating Expenses40,000
Inventory30,000Cost of Goods Sold or Cost of Revenue from Operations60,000

 

 

The solution of Question 141 Chapter 4 of +2-B: –

I

Current Assets=Rs 70,000
Current Liabilities=Rs 35,000
Gross Profit Ratio=Current Assets
Current Liabilities
Gross Profit Ratio=Rs. 70,000
Rs. 70,000
 =2 : 1

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II

Liquid Assets=Current Assets − Inventory
 =Rs 70,000 − Rs 30,000
 =Rs 40,000
Acid Test Ratio=Liquid Assets
Current Liabilities
Acid Test Ratio=Rs. 40,000
Rs 35,000
 =1.14 : 1

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III

Net Sales=Rs 1,20,000
Operating Cost=Cost of Goods Sold + Operating Expenses
 =Rs 60,000 + Rs 40,000
 =Rs 1,00,000
Operating Ratio=Operating CostX100
Net Sales
Operating Ratio=Rs. 1,00,000X100
Rs 1,20,000
 =83.33%   

 

IV

Gross Profit=Net Sales − Cost of Goods Sold
 =Rs 1,20,000 – Rs 60,000
 =Rs 60,000
Average Inventory=Rs 15,000
Gross Profit Ratio=Gross ProfitX100
Net Sales
Gross Profit Ratio=Rs 60,000X100
Rs 1,20,000
 =50%  



Balance Sheet: Meaning, Format & Examples

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

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

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

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

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