Question

From the following information presented by ABC company Ltd for the year ended 31.12.20, prepare the balance sheet.
Sales to net worth - 8 times
Current liabilities to net worth -60%
Total long-term debt to net worth - 70% Fixed assets to net worth - 60%
Current ratio - 2.5:1
Sales to stock - 12 times
Debtors' turnover ratio - 9 times
Annual sales - Rs. 50,00,000 (25% of sales were made for cash).​

Answer 1

Answer:

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Explanation:

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