Question

B. The following information is available from the books of x Itd:
mark)
equity share captial- 1,00,000
8% preference share captial - 40,000
reserves and surplus - rs 60,000
non current investment- rs 30,000
current asset - rs 70,000
proprietary ratio - 0.8:1
assuming there is no fictitious asset calculate the value of fixed asset of the company

Answer 1

Case 1

Credit Sales = 3,00,000

Cash sales = 25% of Credit Sales

Total Sales = Cash Sales + Credit Sales

= 3,00,000 + 75,000 = 3,75,000

Gross Profit = 20% on Sales

Cost of Goods Sold = Total Sales − Gross Profit

= 3,75,000 − 75,000 = 3,00,000

Case 1

Credit Sales = 3,00,000

Cash sales = 25% of Credit Sales

Total Sales = Cash Sales + Credit Sales

= 3,00,000 + 75,000 = 3,75,000

Gross Profit = 20% on Sales

Cost of Goods Sold = Total Sales − Gross Profit

= 3,75,000 − 75,000 = 3,00,000