Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

From the following data prepare the balance sheet of X Ltd., as on 31st December, 1999. Current ratio 2.5; Quick ratio 1.5; Net working capital

From the following data prepare the balance sheet of X Ltd., as on 31st December, 1999.

Current ratio 2.5;

Quick ratio 1.5;

Net working capital Rs.3,00,000

Gross profi t ratio 20%

Fixed Assets turnover ratio 2 times

Stock turnover ratio (Cost of sales/ Closing stock) 6 times.

Average Collection period 2 months

Super quick ratio .25

Fixed Assets to shareholders equity .8

Reserves and surpluses to share capital .5

Debt equity ratio .2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Next Step Advanced Medical Coding And Auditing

Authors: Carol J. Buck

1st Edition

0323430775, 978-0323430777

More Books

Students also viewed these Accounting questions

Question

=+What is your personal mission statement?

Answered: 1 week ago