Current Assets Turnover ratio = Net Sales/ Net Current assets
Net sales = Cost of sales + Gross Profit
= 7,50,000 + 2,10,000
= 9,60,000
Capital Employed = Net Fixed +Net Working Capital
Net Fixed Assets = Capital employed – Net working Capital
= 3,00,000 - 60,000
= 2,40,000
Total Assets = Rs. 3,00,000
Current Assets turnover ratio = Net Sales/Net current Assets
=9,60,000/60,000 = 16 times.

Inventory Turnover ratio = Cost of sales/Average stock
= 4,40,000/55,000 = 8 times

Credit sales per day = 7,20,000/360 = Rs.2000 per day
Average Debtors = 2000 X 50 days = Rs 1,00,000
Debtors Turnover ratio = Net credit sales/Average Debtors
= 7,20,000/1,00,000 = 7.2 times.
Let the Opening Debtors be "x"
Closing Debtors = "x + 10,000"
Total Debtors = x + x + 10,000 = 2,00,000
= 2x + 10,000 = 2,00,000
= 2x = 1,90,000
x = 95,000 ( Opening Debtors = 95000)
Closing Debtors = 95000 + 10000 = Rs 1,05,000

Current ratio ---4:1
Quick ratio ---2.5:1
Inventory =4-2.5=1.5
If inventory is 1.5, then Current assets =4
If inventory = 22500, then current assets = 4X 22500/1.5 =60,000
Current Liabilities = 60,000/4 = Rs 15000.

(i) For company's Balance Sheet there are two standard forms prescribed under the companies Act.1959. Whereas, there is no standard from prescribed under the Indian partnership Act, 1932 for a partnership Firms balance sheet.
(ii) In case of company's Balance sheet previous year's figures are required to be given whereas it is not so in the case of a partnership firms balance sheet.

(i) Claims against the Company not acknowledged as debts.
(ii) Uncalled Liability on partly paid shares.
(iii) Arrears of Dividend on Cumulative preference shares.

Assets
(1) Non-Currecnt Assets
(a) Fixed Assets
i. Tangible Assets
ii. Inrangible assets
iii. Capital work-in progress
iv. Intagible assets under development
(b) Non-current investments
(c) Deferred tax assets(net)
(d) Other non-current asstes
(2) Current Assets
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and cash equivalents
(f) Other current assets

It will increase by 100%

The main objective of preparing comparative balance sheet is to analyse the changing in the financial position of an enterprise

Comparative financial statements are prepared for inter-firm comparaison

Percentage change :Revenue from operations 80%, Cost of Materrial Consumed 20%, Others 140% each.

Percentage change : Revenue from Operations 25%, Other income 50% , Cost of Material Consumed 16.67% , Other Expenses 20% , Others 57.89% each

The recording in financial statements is on the basis of actual cost, whereas the value of money goes on changing.As such, the comparison of previous year figures with current year figures may lead to misleading conclusions. For example, sale of fixed assets in 2012 would be much higher than in 2008 due to rising prices because fixed assets are still being expressed on the basis of cost incurred in a number of years ago while sales (revenue from operations) are being expressed at their current prices. As such, sufficient adjustment must be made for changes in price level while making the analysis.