Balance ShcetLiabiliticsAssets22,00,000Share CapitatReserve and SurplusFixed Assets28,00,0002,00,0001,40,000Stock6,20,000Bank OverdraftDebtors3,20,000Creditors6,00,000Bank8,00,00080,00040,20,000Profit for the year:Cash2,80,00040,20,000On the basis of the above data, you are required to calculate thefollowing ratios and interpret them as briefly ås possible:1) Current Ratio.2) Gross Profit Ratio.3) Quick Ratio. Example 9: The following is the trading and profit and loss account ofMercury Ltd. for the year ending on 31" December 2015, followed bythe Balance Sheet of the company:stParticularTo Opening StockTo PurchasesTo Gross Profit c/d: 6,00,000Trading and Profit and Loss AccountParticular5,80,000 By Sales24,40,000 By Closing Stock30,00,0006,20,00036,20,0003,20,000 By Gross profit b/d2,80,0006,00,00036,20,0006,00,000To General ExpensesTo Net Profit6,00,000

Answered: On the basis of the above data, you are…

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...

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On the basis of the above data, you are required tó calculate following ratios and interpret them as briefly 1) Current Ratio. 2) Gross Profit Ratio. 3) Quick Ratio FN ås possible: