The financial information of Good Luck Ltd. for the year 2015 are given below: Ratio of Current
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The financial information of Good Luck Ltd. for the year 2015 are given below:
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Ratio of Current Assets to Current Liabilities Liquidity Ratio (Debtors and Bank balance to current liabilities) Issued Capital (equity shares of 10 each) Net Current Asstes (as over current liabilities) Fixed Assets (net block) percentage of shareholders' equity as on the closing date Gross Profit (percentage of turnover) . . Annual rate of turnover of inventories (based on cost on 31.12.2015) Average age on outstanding debtors for the year 2015 1.75 to 1 1.25 to 1 * 1,20,000 ₹ 60,000 60% 20% 5.26 times 2 months . 16% Net Profit (percentage on issued share capital) .. On 31st December, Current Assts consisted of inventories, debtors and bank balances. You are required to prepare Statement of Profit and Loss and Balance Sheet for the year ending on 31st December, 2015.
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Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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