Question
Prepare a Comparative Income Statement from the following information:
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What inference would you draw from the following:
- A low Trade Receivables Turnover Ratio.
- A high Inventory Turnover Ratio.
The ratio of Current Assets (₹ 5,00,000) to Current Liabilities is 2.5 : 1. The accountant of this firm is interested in maintaining a Current Ratio of 2 : 1 by acquiring some Current Assets on Credit. You are required to suggest him the amount of Current Assets which must be acquired for this purpose.
From the following extracts of Balance Sheets of Exe Ltd., calculate Cash Flow from Financing Activities:
Additional information:
Additional information:
- Equity Shares were issued on 31st March, 2018.
- Interim dividend on Equity Shares was paid @ 15%.
- Preference Shares were redeemed on 31st March, 2018 at a premium of 5%. Premium paid was debited to Statement of Profit and Loss.
- 12% Debentures of face value ₹ 1,00,000 were issued on 31st March, 2018.
Calculate Gross Profit Ratio from the following:
Opening Inventory ₹ 30,000; Closing Inventory ₹ 25,000; Purchases ₹ 3,05,000; Return Outwards ₹ 20,000; Wages ₹ 32,000; Cash Revenue from Operations ₹ 1,40,000; Return Inwards ₹ 10,000; Credit Revenue from Operations ₹ 3,30,000.
Opening Inventory ₹ 30,000; Closing Inventory ₹ 25,000; Purchases ₹ 3,05,000; Return Outwards ₹ 20,000; Wages ₹ 32,000; Cash Revenue from Operations ₹ 1,40,000; Return Inwards ₹ 10,000; Credit Revenue from Operations ₹ 3,30,000.
3,000 shares of ₹ 10 each were issued to the Promoters for their services at a premium of ₹ 5 per share. Give Journal entry.
The following balances are supplied, on the basis of which you are required to show the major appropriate heads under which the items given below will appear in the Balance Sheet of Veekay Ltd. as on 31st March 2017 :
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Items
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₹
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|
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(i)
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Plant and Machinery
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5,60,000
|
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(ii)
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Building
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10,00,000
|
|
(iii)
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Equity Share Capital (Authorised)
|
20,00,000
|
|
(iv)
|
Equity Shares of ₹ 100 each ₹ 70 called and paid up
|
14,00,000
|
|
(v)
|
10% Debentures
|
55,000
|
|
(vi)
|
Furniture and Fixtures
|
15,000
|
|
(vii)
|
Long-term Bank Loan (secured)
|
1,25,000
|
The following information has been extracted from the books of Pure Con Company. Using the information, calculate the Cash Flow from Investing Activities.
A company took a loan of ₹ 4,00,000 from Bandhan Bank Ltd. and issued 8% Debentures of ₹ 4,00,000 as a collateral security.
Explain how will the issue of debenture be dealt with in the books of the company.
Explain how will the issue of debenture be dealt with in the books of the company.
While computing cash from operating activities, indicate whether the following items will be added or subtracted from the net profit, if not to be considered write NC.
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Items
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Result
|
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(a)
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Increase in the value of creditors.
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|
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(b)
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Increase in the value of patents.
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|
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(c)
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Decrease in prepaid expenses.
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|
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(d)
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Decrease in income received in advance.
|
|
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(e)
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Decrease in value of inventory.
|
|
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(f)
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Increase in share capital.
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|
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(g)
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Increase in the value of trade receivables.
|
|
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(h)
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Increase in the amount of outstanding expenses.
|
|
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(i)
|
Conversion of debentures into shares.
|
|
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(j)
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Decrease in the value of trade payables.
|
|
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(k)
|
Increase in the value of trade receivables.
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(l)
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Decrease in the amount of accrued income.
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Given the following information:
