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

Profit or loss account can be referred to as the account which shows the profit earned by the…

Answered: 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…

FINANCIAL ACCOUNTING

10th Edition

ISBN: 9781259964947

Author: Libby

Publisher: MCG

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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

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