Principles and Practice of Accounting - May 2019

30% June 2018 from the particulars given below : G) The Bank Pass Book had a debit balance of = 25,000 on 30% June, 2018- ’ Gi) - A cheque worth % 400 directly deposited into Bank by a customer but no entry was made in the Cash Book. (iii) Out of cheques issued worth & 34,000, cheques amounting to % 20,000. only were presented for payment till 30% June, 2018. (iv) A cheque for © 4,000 received and entered…

Monika, Yedhant and Zoya are in partnership, sharing profits and losses equally. Zoya died on 30% June 2018. The Balance Sheet of Firm as at 31* March 2018 stood as. Liabilities Amount Assets Amount = g Creditors 20,000 Land and Building 1,50,000 General Reserve 12,000 -~Investments 65,000 Capital Accounts : Stock in trade 15,000 Monika ' 1,00,000 ‘Trade receivables 35,000 Yedhant 75,000 Less : Provision for doubtful debt - 2,000 33,000 Zoya "75,000 Cash in hand 7,000 Cash at bank…

(a)_ - What do you understand by Ratio Analysis? Find out the value of Current Assets of a companiy from the following information: (i) Inventory Turnover Ratio : 4 Times. {ii) Inventory at the end is $20,000 more than inventory in the beginning. (ii) Revenue from Operations i.e., Net Sales €3,00,000. Gv) Gross Profit Ratio 25%. (v) Current Liabilities = 40,000. (vi) Quick Ratio 0.75. (10 Marks) HAF2 P.T.O. (12) (6) From the following information supplied by M.B.S. Club prepare…