13. Following data relate to the financial statements of Moon Ltd. for the year ended 31st March, 2016 : Current Ratio Working Capital Acid Test Ratio Inventory turnover ratio (based on average cost of opening and closing inventory) G.P. Ratio Earning per share Earning for the year as percentage of Share Capital There are no deferred expenses, prepaid expenses, long term liabilities and intangible assets. Opening stock was less by $ 4,000 than closing stock. All sales and purchases are credit sales and credit purchases respectively. You are required to prepare Statement of Profit & Loss for the year ended 31st March, 2016 and Balance Sheet as on that date. Working will form part of your answer. 2.5:1 $ 45,000 Debt Collection Period Creditors Velocity Nominal value per share No. of shares allotted 36 days 54 days $ 5.00 25,000 1.4:1 Fixed Assets : Shareholders Equity (Fund) Operating Ratio (Operating Expenses : Sales) No. of working days in the year 5 times 0.7:1 40% $1.00 90% 360 25%
13. Following data relate to the financial statements of Moon Ltd. for the year ended 31st March, 2016 : Current Ratio Working Capital Acid Test Ratio Inventory turnover ratio (based on average cost of opening and closing inventory) G.P. Ratio Earning per share Earning for the year as percentage of Share Capital There are no deferred expenses, prepaid expenses, long term liabilities and intangible assets. Opening stock was less by $ 4,000 than closing stock. All sales and purchases are credit sales and credit purchases respectively. You are required to prepare Statement of Profit & Loss for the year ended 31st March, 2016 and Balance Sheet as on that date. Working will form part of your answer. 2.5:1 $ 45,000 Debt Collection Period Creditors Velocity Nominal value per share No. of shares allotted 36 days 54 days $ 5.00 25,000 1.4:1 Fixed Assets : Shareholders Equity (Fund) Operating Ratio (Operating Expenses : Sales) No. of working days in the year 5 times 0.7:1 40% $1.00 90% 360 25%
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter2: Financial Statements And The Annual Report
Section: Chapter Questions
Problem 2.8E: Income Statement Ratio The income statement of Holly Enterprises shows operating revenues of...
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