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3/2 R With the following ratios and further information given below, complete the Trading Account, Profit and Loss Account and Balance Sheet of Mr. X: Gross profit ratio = 25% Net profit ratio = 20% Sales / Inventory ratio = 8 TA Fixed Assets /Total current assets 4. Fixed Assets /Total capital %3D Capital / Total outside liabilities Fixed Assets =R 15,00,000 Closing Stock = 2,00,000

3/2 R With the following ratios and further information given below, complete the Trading Account, Profit and Loss Account and Balance Sheet of Mr. X: Gross profit ratio = 25% Net profit ratio = 20% Sales / Inventory ratio = 8 TA Fixed Assets /Total current assets 4. Fixed Assets /Total capital %3D Capital / Total outside liabilities Fixed Assets =R 15,00,000 Closing Stock = 2,00,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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5 38. With the following ratios and further information given below, complete the Trading Account, Profit and Loss Account and Balance Sheet of Mr. X: Gross profit ratio = 25% Net profit ratio = 20% Sales / Inventory ratio = 8 S2 1, 8 TA Fixed Assets / Total current assets 4 Fixed Assets / Total capital %3D Capital / Total outside liabilities Fixed Assets = 15,00,000 Closing Stock = 2,00,000
Transcribed Image Text:5 38. With the following ratios and further information given below, complete the Trading Account, Profit and Loss Account and Balance Sheet of Mr. X: Gross profit ratio = 25% Net profit ratio = 20% Sales / Inventory ratio = 8 S2 1, 8 TA Fixed Assets / Total current assets 4 Fixed Assets / Total capital %3D Capital / Total outside liabilities Fixed Assets = 15,00,000 Closing Stock = 2,00,000
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