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Rs. 75 lakhs 1.25 Net worth Net worth = Rs. 60 lakhs 7 Calculation of...

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Accounting

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Rs. 75 lakhs 1.25 Net worth Net worth = Rs. 60 lakhs 7 Calculation of Equity share capital Reserves = 0.2 (given) Capital Fixed assets = 1.25 Capital + Reserves 75 1.25 Capital + 0.2 capital 1.25 x 12 capital - 75 1.5 capital = 75 Capital = 75/1.550 Capital = Rs. 50 lakhs 8 Calculation of Debt Debt - 0.6 (given) Equity Debt = 0.6 50 Debt = 0.6 x 50 Rs. 30 lakhs 9 Calculation of Reserves Reserves = 0.2 Equity -0.2 x 50 Rs. 10 lakhs Globe Traders Balance Sheet as 31/3/2009 (Rs. lakhs) 75 Liabilities Rs. lakhs Equity capital 50 Reserves and surplus 10 Debt 30 Current liabilities 20 Assets Fixed assets Current assets : Stock Debtors 10 15 Cash and Bank 10 (bal, figure) 110 110 Problem 5 With the following ratios and other information, prepare Trading Account, Profit and Loss Account and Balance sheet of Anand Gross profit ratio 25% Net profit / Sales ratio 20% Fixed assets 15/4 Capital Fixed assets / Total 5/7 current assets Fixed assets Rs. 10 lakh Closing stock Rs. 1 lakh 1 Sales / Inventory ratio 10 times Net profit / Capital 1/4

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