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Q1. From the following particulars, prepare the balance sheet of Headache Begins Company Limited as...

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Accounting

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Q1. From the following particulars, prepare the balance sheet of Headache Begins Company Limited as of March 31, current year: Current Ratio Working Capital Capital block/current asset Fixed Asset/Turnover Cash sales/Credit sales Debentures/Share capital Stock velocity Creditor's velocity Debtors' velocity Gross profit/Turnover Reserves /Turnover Net Profit/Turnover Assumptions: 2 INR 400,000 3:2 1:3 1:2 1:2 2 months 2 months 2 months 25% 2.5% 10% Net Profit & Reserve both are included in the capital block Assume opening stock = closing stock Required: Compute the below Balance Sheet from the information above: (30 marks) INR Headache Begins Company Limited : Balance sheet Assets INR Liabilities & Equity Debtors Creditors Stock Other current liability Other current assets Total Current Assets Total Current Liabilities Fixed Assets Equity Net Profit + Reserves Debentures Total Total Show all the workings clearly

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