Question
The following figure relates to Maxim Ltd. for the year ended 31st March, 2019. Trading and Profit & Loss Account for the year ended 31st
The following figure relates to Maxim Ltd. for the year ended 31st March, 2019.
Trading and Profit & Loss Account for the year ended 31st March, 2019
Maxim Ltd
Particulars | Rs. | Rs. | Particulars | Rs. | Rs. |
To Opening Stock |
| 1,50,000 | By Sales | 10,40,000 |
|
To Purchases |
| 6,50,000 | Less: Sales return | 40,000 |
|
To Gross profit c/d |
| 4,00,000 |
|
| 10,00,000 |
|
|
| By closing stock |
| 2,00,000 |
|
| 12,00,000 |
|
| 12,00,000 |
|
|
| By Gross profit b/d |
| 4,00,000 |
To Administration | 80,000 |
| By income on dividend | 18,000 |
|
To Selling & Distribution | 50,000 |
| By profit on sale of furniture | 22,000 |
|
To loss on sale of assets | 10,000 |
|
|
| 40,000 |
|
| 1,40,000 |
|
|
|
To Net Profit c/d |
| 3,00,000 |
|
|
|
|
| 4,40,000 |
|
| 4,40,000 |
Calculate the following ratios:
- Gross profit ratio
- Operating ratio
- Operating profit ratio
Please assist with the answer in next 30 min
Many Thanks ,Rajiv
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started