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Accounting Ratios — Accountancy STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceAccountancyAccounting Ratios4 Marks
Question
Answer the following question from the above information
1.
After preparing the financial statements for the year 31st March 2021. XYZ Ltd. has provided the following information:
Working Capital Rs.45,000;
Total Debt Rs.1,00,000 and
Long-term Debt Rs. 70,000
Non-current asset 4,25,000
Current asset of the company will be:

(A)90000
(B)85000
(C)70000
(D)75000
2. Capital employed of the company will be:
(A)4,70,000
(B)4,30,000
(C)5,00,000
(D)1,00,000
3. Proprietary ratio of the company will be:
(A)$0.9:1$
(B)$0.8:1$
(C)$0.86:1$
(D)$0.94:1$
4. Current ratio of the company will be:
(A)$3:1$
(B)$2.5:1$
(C)$2.83:1$
(D)$2:1$

✓

Answer

1- 75,000
2- 4,70,000
3- $0.8:1$
4- $2.5:1$

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You are required to answer the following questions from the above information . From is the information of ''GAGAN LTD''.
Particulars20192020
Working capital Turnover ratio4 times6 times
Trade payables30,00050,000
Bank overdraft40,00025,000
Outstanding Expenses10,00025,000
Revenue From operations16.00.00018.00,000
Gross Profit %25% on cost20% on sales
Credit Purchases1,00,0001,20,000
Cash Purchases45,00055,000

1. Calculate amount of working Capital of the 2019?
(A)Rs.4,00,000
(B)Rs.3,00,000
(C)Rs.2,45,000
(D)Rs.1,00,000
2. Calculate Current Ratio of the 2020?
(A)$2.67:1$
(B)$4:1$
(C)$1:1$
(D)$2:1$
3. Calculate Trade payable turnover ratio of 2020?
(A)2.5 times
(B)2.75 times
(C)3 times
(D)2.4 times
4. Calculate Cost of Revenue from operations for the year 2019 and 2020?
(A)2019 Rs.12,00,000 and 2020 Rs.14,40,000
(B)2019 Rs.12,40,000 and 2020 Rs.14,40,000
(C)2019 Rs.12,80,000 and 2020 Rs.14,40,000
(D)2019 Rs.14,40,000 and 2020 Rs.12,80,000

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Answer the following questions after reading this case on $1^{st} $ April $2022.$
$X$ ltd. purchased assets worth $₹30,00,000$ and also took over liabilities of $2,50,000$ from $Y$ ltd for a purchase consideration of $₹26,00,000.$
$X$ ltd. paid the purchase consideration by$-$
$(i)$ Issuing $10,000, 9\%$ debentures of $₹100$ each at a premium of $20\%.$
$(ii)$ Issuing $14,000, 12\%$ debentures of $₹100$ each at par.
On the same date, it took a loan of $₹6,00,000$ from State Bank of India for which the company placed $10\%$ debentures for ₹8,00,000 as collateral security with the bank.
Following is the extract of Balance sheet as at $31^{st} $ Mar $2023.$​​​​​​​
I. Equity and Liabilities: Note No. $(₹)$
Non-current liabilities    
Long-term Borrowing $1$ $4$
Notes to Accounts:    
 
Particulars $(₹)$ $(₹)$
$1.$ Long-term Borrowing:    
$10,000, 9\%$ Debentures $1$  
$14,000, 27\%$ Debentures $14,00,000$  
$10\%$ Debentures $-$  
Less Debentures suspense A/c $2$ $3$
Bank loan $($on collateral security$)$   $-$
    $-$
$1.$ The amount to be reflected in blank $(1)$ will be-
$A)\ ₹10,00,000$
$B)\ ₹10,90,000$
$C)\ ₹12,90,000$
$D) \ 12,00,000$
$2.$ The amount to be reflected in blank $(2)$ will be-
$A)\ ₹6,80,000$
$B)\ ₹8,00,000$
$C)\ ₹6,00,000$
$D)\ ₹8,60,000$
$3.$ The amount to be reflected in blank $(3)$ will be-
$A)\ ₹22,00,000$
$B)\ ₹28,00,000$
$C)\ ₹26,00,000$
$D)\ ₹24,00,000$
$4.$ The amount to be reflected in blank $(4)$ will be-
$A)\ ₹32,00,000$
$B)\ ₹30,00,000$
$C)\ ₹34,00,000$
$D)\ ₹36,00,000$
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1. Following information is provided by Gagan Ltd. on 31st March 2021

 ParticularsNote No.2021
I.Equity and Liabilities  
1Shareholders' Funds  
 (a) Share Capital 25,00,000
 (b) Reserves and Surplus110,00,000
2Non-current Liabilities  
 Long term Borrowings217,50,000
3Current Liabilities  
 (a) Short-term Borrowings37,50,000
 (b) Other Current Liabilities43,50,000
 Total 63,50,000
II.ASSETS  
1Non-current Assets  
 Property, Plant & Equipment (Fixed Assets):  
 (i) Tangible Assets 4,15,000
 (ii) Intangible Assets 1,00,000
 Non-Current Investment55,00,000
2Current Assets:  
 (a) Current Investment 2,50,000
 (b) Inventories65,35,000
 (c) Cash and Cash Equivalents 4,50,000
 Total 63,50,000


Notes to Accounts

Particulars2021
Reserves and Surplus
Surplus i.e. Balance in Statement of P/L		10,00,000
Long-term Borrowings
12% Debentures		17,50,000
Short-term Borrowings
Cash Credit		7,50,000
Other Current Liabilities
12% Debentures: Current Maturities of Long-term Debts		3,50,000
Non-current Investment
Trade Investment		5,00,000
Inventories
Stock
Loose Tools
Storesand spares
4,00,000
35,000
1,00,000

(A)$1:1$
(B)$2.25:1$
(C)$2:5:1$
(D)$2:1$
2. Debt to Equity Ratio of the Company will be:
(A)$2:1$
(B)$1:1$
(C)$0.5:1$
(D)$0.75:1$
3. Total Assets to Debt Ratio will be:
(A)$0.28:1$
(B)$2.5:1$
(C)$2.25:1$
(D)$3.6:1$
4. Proprietary Ratio of the Company will be:
(A)$1:1$
(B)$0.55:1$
(C)$0.75:1$
(D)$1.5:1$
5. Capital Employed of the Company will be:
(A)52,00,000
(B)52,50,000
(C)53,00,000
(D)53,50,000
6. If the interest coverage ratio of the company is 6 Times, find Net Profit before Interest and Tax:
(A)10,50,000
(B)12,60,000
(C)12,00,000
(D)15,12,000

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Sita Travels ltd. purchased Plant and Machinery of $₹10,00,000$ at $₹8,00,000$ and Land $\ $ Building of $₹58,00,000$ at $₹72,00,000$ from Batra. Travels Ltd. It Paid $₹20,00,000$ in cash and for the balance issued $10\%$ debentures of $₹10$ each at a premium of $20\%,$ redeemable at a premium of $10\%$ after $4$ years.
Following is an extract of their Journal-
Date Particulars LF Dr. Amt $(₹)$ Cr. Amt $(₹)$
$31^{th} $ Mar $2023$ Batra travels Ltd.   __________  
  Loss on issue of Debentures A/c   ____$3$_____  
  To Bank A/c     $20,00,000$
  To $10\%$ Debentures A/c     ___$1$_____
  To Securities Premium A/c     ___$2$_____
  To Premium on Redemption of Debentures A/c     ___$-$_____
  $($For payment of purchase consideration$)$      
$1.$ The amount to be reflected in blank $(1)$ will be-
$A) ₹40,00,000$
$B) ₹48,00,000$
$C) ₹50,00,000$
$D) ₹60,00,000$
$2.$ The amount to be reflected in blank $(2)$ will be-
$A) ₹10,00,000$
$B) 12,00,000$
$C) ₹8,00,000$
$D) ₹8,60,000$
$3.$ The amount to be reflected in blank $(3)$ will be
$A) ₹4,00,000$
$B) ₹5,00,000$
$C) ₹15,00,000$
$D) ₹13,40,000$
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Read the following information carefully and answer the questions 1 to 5 that follow:
X and Y are partners in the ratio of 3: 2. Their capital balances as on 1st April 2020 amounting to ₹2,00,000 each. On 1st February, 2021, X contributed an additional capital of 1,00,000. Following are the terms of deed:
(a) Interest on capital @6% per annum
(b) Interest on drawings @ 8% per annum.
(c) Salary to X 1500 per month
(d) Commission to Y @10% on net profit after charging interest on capital, salary and his commission.
Drawings of the partners were 20,000 and 30,000 respectively during the year
Net profit earned by the firm was 2,08,000
Choose the correct option based on the above information:
1. What is the amount of Interest on capitals of X and Y?
(a) ₹12,000 each
(b) ₹12,000 to X and ₹13,000 to Y
(c) ₹13,000 to X and ₹12,000 to Y
(d) None of the above
2. What is the amount of interest on drawings of X and Y?
(a) ₹1200 and ₹1800 respectively
(b) ₹800 and ₹1200 respectively
(c) ₹1200 and ₹800 respectively
(d) ₹1600 ₹2400 respectively
3. What is the amount of commission payable to Y?
(a) ₹ 15000
(b) ₹ 16500
(c) ₹ 20800
(d) None of these
4. What is X's share in the net divisible profit?
(a) ₹ 124400
(b) ₹ 83600
(c) ₹ 91200
(d) ₹ 60800
5. What will be the closing capital of X after all adjustments?
(a) 422200
(b) ₹401400
(c) ₹300000
(d) ₹423000
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You are required to find out :
1.
On 1.1.2015, Uday and Kaushal entered into partnership with fixed capitals of Rs.7,00,000 and Rs.3,00,000 respectively. They were doing good business and were interested in its expansion but could not do the same because lack of capital. Therefore, to have more capital, they admitted Govind as a new partner on 1.1.2017. Govind brought Rs.10,00,000 as capital and the new profit sharing ratio decided was 3:2: 5. On 1.1.2019, another new partner Hari was admitted with a capital of Rs.8,00,000 for 1/10th share in the profits, which he acquired equally from Uday, Kaushal and Govind. On 1.4.2021 Govind died and his share was taken over by Uday and Hari equally. The sacrificing ratio of Uday and Kaushal on Govind's admission:
(A) $3:2$
(B) $2:3$
(C) $3:1$
(D) $2:1$
2. New profit sharing ratio of Uday, Kaushal, Govind and Hari on Hari's admission:
(A) $8 : 5 : 14 : 3$
(B) $14 : 8 : 5 : 3$
(C) $5 : 8 :14 : 3$
(D) $3 :5: 8 : 14$
3. New profit sharing ratio of Uday, Kaushal and Hari on Govind's death:
(A) $3:2:1$
(B) $1:2:3$
(C) $3:2:2$
(D) $3:1:2$
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You are required to Answer the following question
1.

Vinod Ltd. issued 10,000 Equity Shares of Rs.10 each at a premium of Rs.3 per share payable as:
On Application.........................................................Rs.4
On Allotment............................................................Rs.5 (including premium)
On First Call.............................................................Rs.2
Balance................................................................... as and when required.
The public applied for 12,000 shares. The company made pro-rata allotment to all the applicants. One shareholder who was allotted 900 shares paid the entire amount with allotment while another shareholder who had applied for.
1200 shares, failed to pay the allotment money and on his subsequent failure to pay the first call his shares were forfeited.
Of the forfeited shares, 800 were reissued at Rs.7 per share.
Balance of Share Allotment Account will be:

(A) 39,600
(B) 50,000
(C) 12,200
(D) Nil
2. Balance of Securities Premium Reserve Account will be:
(A) 27,000
(B) 28,000
(C) 30,000
(D) 29,000
3. Balance of Share Forfeiture Account will be:
(A) 3,800
(B) 960
(C) 3,000
(D) 800
4. Balance of Calls-in-Arrears Account:
(A) 6,200
(B) Nil
(C) 4,200
(D) 2,000

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You are required to answer the following questions:
1.
Gagan and Megha are partners, sharing profits in the ratio of 2:1. To meet the requirement of capital they decided to admit a new partner Nishant for 1/3rd share in profit.
At the time of admission, the Balance Sheet stood as follows:
LiabilitiesAmountAssetsAmount
Capital A/cs: Freehold Property2,40,000
Gagan2,10,000 Plant and Machinery1,60,000
Megha3,90,0006,00,000Building1,00,000
Investment Fluctuation Reserve18,000Furniture80,000
Creditors25,000Debtors55,000 
Bills Payable42,000Less: Provision for5,000 
Outstanding Salaries15,000Doubtful debts50,000
  Current investment45,000
  Cash in hand25,000
 7,00,000 7,00,000
Nishant brings Rs.2,30,000 as his capital and Rs.70,000 for premium for goodwill. Following adjustments to be considered:
(i) Freehold property to be appreciated by Rs.30,000. Plant and Machinery reduced to 1,20,000. Building is appreciated to 130%. Insurance premium paid during the year included Rs.2,000 unexpired insurance.
(ii) A debtor whose account was written off as bad debts for Rs.8,400 before two years, now paid 50% amount in cash.
(iii) A creditor to whom 9,000 was payable, draw a bill of exchange for 3 months, which was duly accepted.
(iv) Megha took investment costing Rs.12,000 and remaining investment valued at Rs.38,000.
(v) A claim received and accepted by the firm for workmen, compensation Rs.75,000.
New Ratio among the partners:

(A) $4:2:3$
(B) $2:1:1$
(C) $3:2:1$
(D) $5:3:2$
2. Value of Fixed Assets to be shown in the credit side of Revaluation Account:
(A) 60,000
(B) 30,000
(C) 1,60,000
(D) 1,00,000
3. Investment to be shown in Revaluation Account:
(A) 12,000 Debit Side
(B) 38,000 Credit side
(C) 26,000 Credit side
(D) 5,000 Credit side
4. Final value of creditors to be shown in Balance Sheet:
(A) 25,000
(B) 16,000
(C) 34,000
(D) 9,000

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Answer the following question from the above information
1.
RVP Ltd. has provided the following information on 31st March 2021:
Net profit before tax: 6,00,000
Salary: 50,000
Loss by fire: 15,000
Printing & Stationery: 10,000
Interest on debenture 40,000
Depreciation: 20,000
Gain on sale of fixed asset: 15,000
Tax rate 20%
Revenue from operation: 20,00,000
Gross Profit ratio will be

(A)0.64
(B)0.2
(C)0.36
(D)0.4
2. Operating Profit ratio will be
(A)0.65
(B)0.68
(C)0.32
(D)0.35
3. Operating ratio will be
(A)0.65
(B)0.35
(C)0.23
(D)0.68
4. Net profit ratio will be
(A)0.2
(B)0.25
(C)0.3
(D)0.24

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Answer the following question from the above information
1.
Ridhi Ltd. has provided the following information:
Credit Revenue from operation: 3,00,000.
Cash Revenue from operation: 25% of total revenue from operation
Total purchases during the year: 2,40,000
Cash purchase: 20% of Credit purchase
Excess of closing inventory over opening inventory: 10,000
Carriage Inward: 20,000
Trade receivable turnover ratio: 15 times
Opening debtor was 1/3rd of closing debtor
Average trade payable: 50,000
Cash Revenue of the company will be

(A)3,00,000
(B)4,00,000
(C)2,00,000
(D)1,00,000
2. Credit Purchase of the company will be
(A)40,000
(B)2,00,000
(C)1,60,000
(D)2,40,000
3. Cost of revenue from operation of the company will be
(A)2,00,000
(B)2,50,000
(C)2,40,000
(D)1,60,000
4. Closing trade receivable will be
(A)90000
(B)10000
(C)30000
(D)45000
5. Trade Payable turnover ratio will be
(A)4 Times
(B)3 Times
(C)5 Times
(D)2 Times

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