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VDO+ Tag:Question 108 Chapter 14 of Class 12 Part – 2 – 2024
Miscellaneous (Analytical Questions)
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Video Tag:108. (GP Ratio/Inventory T/O Ratio/Proprietary Ratio) The following are the Summarised Profit and Loss Account and the Balance Sheet of Ashoka Ltd.
| STATEMENT OF PROFIT AND LOSS | ||
| FOR THE YEAR. ENDING 31ST MARCH, 2018 | ||
| Particulars | ₹ | |
| Revenue from Operations | 2,20,000 | |
| Less: Expenses | ||
| Purchases | 1,25,000 | |
| Change in Inventories (Opening Stock — Closing Stock) ( ₹ 20,000 – ₹ 10,000) | 10,000 | |
| Direct Expenses | 15,000 | |
| Salary | 16,000 | |
| Loss on Sale of Machinery | 4,000 | 1,70,000 |
| Net Profit | 50,000 |
| BALANCE SHEET | |
| (AS AT 31st MARCH, 2018) | |
| Particulars | ₹ |
| I. Equity and Liabilities | |
| Shareholders’ Funds | |
| Share Capital | |
| Equity Share Capital | 1,50,000 |
| Reserves and Surplus | |
| Surplus in Statement of Profit and Loss | 50,000 |
| Current Liabilities | |
| Trade Payable | 75,000 |
| Outstanding Expenses | 25,000 |
| 3,00,000 | |
| II. Assets : | |
| Non-Current Assets | |
| Tangible Assets | |
| Land | 2,00,000 |
| Current Assets | |
| Inventory | 10,000 |
| Trade Receivable | 50,000 |
| Bank | 40,000 |
| 3,00,000 |
The solution of Question 108 Chapter 14 of Class 12 Part – 2 – 2024: –
| (i) Gross Profit Ratio | = | Gross Profit | X | 100 |
| Net Sales | ||||
| = | ₹ 70,000 | X | 100 | |
| ₹ 2,20,000 | ||||
| = | 31.8% |
| (ii) Inventory Turnover Ratio | = | Cost of goods sold |
| Average Inventory | ||
| = | ₹ 1,50,000 | |
| ₹ 15,000 | ||
| = | 10 times |
| (iii) Proprietary Ratio | = | Shareholders’ Funds | ||
| Total Assets | ||||
| = | ₹ 2,00,000 | x | 100 | |
| ₹ 3,00,000 | ||||
| = | 66.66% |
Working Notes :
| Gross Profit | = | Sales – Cost of goods sold |
| = | ₹ 2,20,000 – ₹ 1,50,000 | |
| = | ₹ 70,000 | |
| Cost of goods sold | = | Purchases + Direct Expenses – Change in inventory |
| = | ₹ 1,25,000 + ₹ 15,000 + ₹ 10,000 | |
| = | ₹ 1,50,000 | |
| Shareholders’ Funds | = | Equity Share Capital + Profit And Loss |
| = | ₹ 1,50,000 + ₹ 50,000 | |
| = | ₹ 2,00,000 |
| Average Inventory | = | Opening Inventory + Closing Inventory |
| 2 | ||
| = | ₹ 20,000 + ₹ 10,000 | |
| 2 | ||
| = | ₹ 15,000 |
Question 108 Chapter 14 of Class 12 Part – 2 – 2024
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Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum
Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 2 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
Chapter No. 11 – Financial Statements of a Company
Chapter No. 12 – Financial Statement Analysis
Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 14 – Ratio Analysis
Chapter No. 15 – Cash Flow Statement
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Issue of Debentures
- Chapter No. 3 – Redemption of Debentures
- Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 5 -Financial Statement Analysis
- Chapter No. 6 – Tools/Methods of Financial Analysis
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
Check out Part 1 of both books.
In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 1, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 1 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.
1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 1 Class 12 by Unimax Publication