give answer of this qus....
This query is : Resolved
29 June 2010
STOCK TURNOVER 5 TIMES
sales RS. 720000
GP ratio 25%
Current Liablities RS. 240000
Liquid Ratio 1.25
closing stock RS. 30000 more than opening stock
CALCULATE TOTAL CURRENT Assets????????
sales RS. 720000
GP ratio 25%
Current Liablities RS. 240000
Liquid Ratio 1.25
closing stock RS. 30000 more than opening stock
CALCULATE TOTAL CURRENT Assets????????
29 June 2010
stock turnover 5 times means average stock is 1/5 the sales
So avg st = 720000 / 5 = 144,000
Increase in cl stock by Rs. 30,000/-
So op st = 129,000, cl st = 159,000/-
Liquid ratio = 1.25
so liquid current assets = 240,000 * 1.25 = 300000
current assets = 300000 + 159000 stock
= 459000
So avg st = 720000 / 5 = 144,000
Increase in cl stock by Rs. 30,000/-
So op st = 129,000, cl st = 159,000/-
Liquid ratio = 1.25
so liquid current assets = 240,000 * 1.25 = 300000
current assets = 300000 + 159000 stock
= 459000
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- TDS ON CASH WITHDRAWALS...
- Article ship defecit
- Query regarding TDS on EPFO Higher Pension Arrears*
- Form 10BD Filling
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Delisted shares sold in off market/ Rebate u/s87A
- Error whiling application of GST REFUND (ANNEXURE B)
- While filing GSTR9 accountant couldn't entered the ITC values in Table 6, in 9C it is not accepting
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
