Question

A company having a net working capital of Rs 2.8 Lakhs as on 30-6-2018 indicates the

following financial ratios and performances figures:

Current ratio 2.4

Liquidity ratio 1.6

Inventory turnover (on cost of sales) 8

Gross profit on sales 20%

Credit allowed (months) 1.5

The company‟s fixed assets is equivalent to 90% of its net-worth (share capital plus reserve)

while reserves amounted to 40% of share capital.

Prepare the balance sheet of the company as on 30-6-2018 showing step by step calculations.​

Answer 1

Answer:

30-6-2018 showing step