Question

calculate current ratio and net profit ratio... gross sales 3,00,000 sales return 20,000 gross profit 20,000 salaries and other expenses 8000 trade debtors 16,000 trade creditors 28,800 bills receivable 4,000 bills payable 12,800 debenture 5,00,000 long term loans 1,00,000 cash 12,000 building 1,00,000​

Answer 1

Explanation:

Calculate current ratio and quick ratio from the following information.

Stock                                Rs.1,00,000

Debtors                            Rs.    80,000 

Bills receivables              Rs.    20,000

Advance Tax                    Rs.      8,000

Cash                                 Rs.    60,000

Creditors                          Rs.1,20,000

Bills payable                    Rs.    80,000

Bank overdraft                Rs.      8,000