PROBLEM 2.48. Prepare balance sheet from the following particulars : Current ratio 2.5, Acid test ratio 1.5, Working capital ₹3,00,000, Cash is equal to 50% of Bills receivable, Bills receivable amount is equal to the amount of Debtors. Current assets include stock, debtors, bills receivable and cash only. Current liabilities include creditors and bills payable only, in the ratio of 3:2. Fixed assets are 60% of Shareholders' funds. Reserves and surplus are ₹50,000. The are no long-term loans or investments.
PROBLEM 2.48. Prepare balance sheet from the following particulars : Current ratio 2.5, Acid test ratio 1.5, Working capital ₹3,00,000, Cash is equal to 50% of Bills receivable, Bills receivable amount is equal to the amount of Debtors. Current assets include stock, debtors, bills receivable and cash only. Current liabilities include creditors and bills payable only, in the ratio of 3:2. Fixed assets are 60% of Shareholders' funds. Reserves and surplus are ₹50,000. The are no long-term loans or investments.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter14: Statement Of Cash Flows
Section: Chapter Questions
Problem 35E: Jarem Company showed 189,000 in prepaid rent on December 31, 20X1. On December 31, 20X2, the balance...
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PROBLEM 2.48. Prepare balance sheet from the following particulars : Current ratio 2.5, Acid test ratio 1.5,
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