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Published on: 13/05/2022
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1.
2.
The credit revenue from operations of Velavan Ltd, amounted to Rs. 10,00,000. Its debtors and bills receivables at the end of the accounting period amounted to Rs. 1,10,000 and Rs. 1,40,000 respectively. Calculate trade receivables turnover ratio and also collection period in months.
3.
From the following Balance Sheet of Sundaram Ltd. calculate proprietary ratio:
| Particulars | Amount Rs. |
|---|---|
| I. EQUITY AND LIABILITIES | |
| 1. Shareholders' funds | |
| (a) Share capital | |
| (i) Equity share capital | 2,50,000 |
| (ii) Preference share capital | 1,50,000 |
| (b) Reserves and surplus | 50,000 |
| 2. Non-current liabilities | |
| Long-term borrowings | - |
| 3. Current liabilities | |
| Trade payables | 1,50,000 |
| Total | 6,00,000 |
| II ASSETS | |
| 1. Non-current assets | |
| (a) Fixed assets | 4,60,000 |
| (b) Non-current investments | 1,00,000 |
| 2. Current assets | |
| Cash and Cash equivalents | 40,000 |
| Total | 6,00,000 |
4.
Following is the balance sheet of Lakshmi Ltd. as on 31st March, 2019:
| Particulars | Rs. |
|---|---|
| I EQUITY AND LIABILITIES | |
| 1. Shareholders’ funds | |
| Equity share capital | 4,00,000 |
| 2. Non-current liabilities | 2,00,000 |
| Long term borrowings | |
| 3. Current liabilities | |
| (a) Short-term borrowings | 50,000 |
| (b) Trade payables | 3,10,000 |
| (c) Other current liabilities | |
| Expenses payable | 15,000 |
| (d) Short-term provisions | 25,000 |
| Total | 10,00,000 |
| II ASSETS | |
| 1. Non-current assets | |
| (a) Fixed assets | 4,00,000 |
| Tangible assets | |
| 2. Current assets | |
| (a) Inventories | 1,60,000 |
| (b) Trade debtors | 3,20,000 |
| (c) Cash and cash equivalents | 80,000 |
| (d) Other current assets | |
| Prepaid expenses | 40,000 |
| Total | 10,00,000 |
Calculate:
(i) Current ratio
(ii) Quick ratio
5.
From the following Balance Sheet of James Ltd. as on 31.03.2019 calculate
(i) Debt-equity ratio
(ii) Proprietary ratio
(iii) Capital gearing ratio
| Particulars | Amount Rs. |
|---|---|
| I. EQUITY AND LIABILITIES | |
| 1. Shareholders' funds | |
| (a) Share capital | |
| Equity share capital | 2,50,000 |
| 6% Preference share capital | 2,00,000 |
| (b) Reserves and surplus | 1,50,000 |
| 2. Non-current liabilities | |
| Long-term borrowings (8% Debentures) | 3,00,000 |
| 3. Current liabilities | |
| Short-term borrowings from banks | 2,00,000 |
| Trade payables | 1,00,000 |
| Total | 12,00,000 |
| II ASSETS | |
| 1. Non-current assets | |
| Fixed assets | 8,00,000 |
| 2. Current assets | |
| (a) Inventories | 1,20,000 |
| (b) Trade receivables | 2,65,000 |
| (c) Cash and Cash equivalents | 10,000 |
| (d) Other current assets | |
| Expenses paid in advance | 5,000 |
| Total | 12,00,000 |
1.
2.
Trade receivable turnover ratio = \(\frac { Credit\ revenue\ from\ operations }{ Average\ trade\ receivables } \)
Trade receivables = Debtors + Bills receivable
= Rs.1,10,000 + Rs.1,40,000 = Rs.2,50,000
∴ Trade receivable turnover ratio = \(\frac { 10,00,000 }{ 2,50,000 } \) = 4 times
Debt collection period (in months) = \(\frac { Number\ of\ months\ in\ a\ year }{ Trade\ receivables\ turn\ over\ ratio } \)
= \(\frac { 12 }{ 4 } \) = 3 months.
3.
Proprietary ratio = \(\frac { Shareholder's\ funds }{ Totalassets } \)
Shareholder's funds = Equity share capital + Preference share capital + Reserves and surplus
= Rs.2,50,000 + Rs.1,50,000 + Rs.50,000 = Rs.4,50,000
Total assets = Rs.6,00,000
∴ Proprietary ratio = \(\frac { 4,50,000 }{ 6,00,000 } \) = 0.75 : 1
4.
(i) Current ratio = \(\frac { Current\quad assets }{ Current\quad liabilities } \)
Current assets = Inventories + Trade debtors + Cash and cash equivalents + Prepaid expenses
= Rs.1,60,0,000 + Rs.3,20,000 + Rs.80,000 + Rs.40,000 = Rs.6,00,000
Current liabilities = Short term borrowings + Trade payables + Expenses payable + Short term provisions
= Rs.50,000 + Rs.,10,000 + Rs.15,000 + Rs.25,000 = Rs.4,00,000
Current ratio = \(\frac { 6,00,000 }{ 4,00,000 } \) = 1.5:1
(ii) Quick ratio = \(\frac { Quick\quad assets }{ Current\quad liabilities } \)
Quick assets = Current assets - Inventories - Prepaid expenses
= Rs.6,00,000 - Rs.1,60,000 - Rs.40,000 = Rs.4,00,000
Quick ratio = \(\frac { 4,00,000 }{ 4,00,000 } \) =1:1
5.
(i) Debt equity ratio = \(\frac { Long\quad term\quad debt }{ Shareholders\quad funds } \)
Long term debt = Debentures
= Rs.3,00,000
Shareholder's funds = Equity share capital + Reserves and surplus + Preference share capital
= Rs.2,50,000 + 1,50,000 + Rs.2,00,000 = Rs.6,00,000
∴ Debt equity ratio = \(\frac { 3,00,000 }{ 6,00,000 } \) = 0.5 : 1
(ii) Proprietary ratio = \(\frac { Shareholder's\quad funds }{ Total\quad assets } \)
Shareholder's funds = Rs.6,00,000
Total assets = Rs.12,00,000
∴ Proprietary ratio = \(\frac { 6,00,000 }{ 12,00,000 } \) = 0.5 : 1
(iii) Capital gearing ratio = \(\frac { Funds\quad bearing\quad fixed\quad interest\quad and\quad fixed\quad dividend }{ Equity\quad Shareholder's\quad funds } \)
Funds bearing fixed = 6% Preference capital + 8% Debentures
interest and fixed dividend = Rs.2,00,000 + Rs.3,00,000 = Rs.5,00,000
Equity shareholder's funds = Equity share capital + General reserve and Surplus
= Rs.2,50,000 + Rs.1,50,000 = Rs.4,00,000
∴ Capital gearing ratio = \(\frac { 5,00,000 }{ 4,00,000 } \) = 1.25 : 1
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