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प्रश्न
Current Liabilities of a company are ₹ 6,00,000. Its Current Ratio is 3 : 1 and Liquid Ratio is 1 : 1. Calculate value of Inventory.
उत्तर
`"Current Ratio" = "Current Assets"/ "Current liability" = 3/1`
`"Acid Test Ratio" = "Liquid Assets"/"Current Liabilities" = 1/1`
Current Liabilities = 6,00,000
Current Assets = 3 × Current Liabilities
= 3 × 6,00,000 = 18,00,000
Liquid Assets = 1 × 6,00,000 = 6,00,000
Inventory = Current Assets − Liquid Assets
= 18,00,000 − 6,00,000 = 12,00,000
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संबंधित प्रश्न
Calculate Current Ratio if:
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Xolo Ltd.'s Liquidity Ratio is 2.5 : 1. Inventory is ₹ 6,00,000. Current Ratio is 4 : 1. Find out the Current Liabilities.
The Quick Ratio of a company is 0.8:1. State with reason, whether the following transactions will increase, decrease or not change the Quick Ratio:
(i) Purchase of loose tools for ₹2,000; (ii) Insurance premium paid in advance ₹500; (iii) Sale of goods on credit ₹3,000; (iv) Honoured a bills payable of ₹5,000 on maturity.
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Inventory Turnover Ratio 5 times; Cost of Revenue from Operations (Cost of Goods Sold) ₹ 18,90,000. Calculate Opening Inventory and Closing Inventory if Inventory at the end is 2.5 times more than that in the beginning.
From the following Statement of Profit and Loss for the year ended 31st March, 2019 of Rex Ltd., calculate Inventory Turnover Ratio:
STATEMENT OF PROFIT AND LOSS
for the year ended 31st March, 2019
|
Particulars |
Note No. |
Amount (₹) |
| I. Revenue from Operations (Net Sales) |
6,00,000 |
|
| II. Expenses: | ||
|
(a) Purchases of Stock-in-Trade |
3,00,000 |
|
|
(b) Change in Inventory of Stock-in-Trade |
1 |
50,000 |
|
(c) Employees Benefit Expenses |
60,000 |
|
|
(d) Other Expenses |
2 |
45,000 |
| Total Expenses |
4,55,000 |
|
| III. Profit before Tax (I-II) |
1,45,000 |
|
| IV. Less: Tax |
45,000 |
|
| V. Profit after Tax (III-IV) |
1,00,000 |
Notes to Accounts
|
Particulars |
Amount (₹) |
| I. Change in Inventory of stock-in-Trade | |
|
Opening Inventory |
1,25,000 |
|
Less: Closing Inventory |
75,000 |
|
50,000 |
|
| 2. Other Expenses | |
|
Carriage Inwards |
15,000 |
|
Miscellaneous Expenses |
30,000 |
|
45,000 |
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| ₹ | ₹ | |||
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| Purchases | 3,00,000 | Returns Outward | 10,000 | |
| Carriage Inwards | 10,000 | Wages | 50,000 | |
| Rate of Credit Sale to Cash Sale | 4:1 |
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| ₹ | |
| Revenue from Operations (Net Sales) | 5,00,000 |
| Cost of Revenue from Operations (Cost of Goods Sold) | 2,00,000 |
| Wages | 1,00,000 |
| Office and Administrative Expenses | 50,000 |
| Interest on Borrowings | 5,000 |
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(i) Gross Profit Ratio;
(ii) Current Ratio;
(iii) Acid Test Ratio; and
(iv) Inventory Turnover Ratio.
| ₹ | ₹ | |||
| Gross Profit | 50,000 | Revenue from Operations | 1,00,000 | |
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| General Reserve | ₹ 45,000 | Outstanding Expenses | ₹ 10,000 | |
| Balance in Statement of Profit and Loss | ₹ 30,000 |
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Inventory Turnover
