From the following information you are asked to
prepare a Balance sheet
Current liabilities Rs.1,00,000
Reserves and surplus Rs.50,000
Bills payable Rs.40,000
Debtors Rs.35,000
Current ratio 1.75
Acid test ratio 1.15
Fixed assets to proprietors fund 0.75
Ratio of fixed assets to current assets 3.00
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Answer:
Add total liabilities to total shareholders Equity and compare to asserts , to ensure the balance sheet it balanced it will be necessary to compare total asserts against total liabilities plus equity . To do this you' ll need to add liabilities and shareholders equity together
Explanation:
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Explanation:
prepare a Balance sheet
Current liabilities Rs.1,00,000
Reserves and surplus Rs.50,000
Bills payable Rs.40,000
Debtors Rs.35,000
Current ratio 1.75
Acid test ratio 1.15
Fixed assets to proprietors fund 0.75
Ratio of fixed assets to current assets 3.00
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