From the following information of X Engineering Co., computethe proforma Balance Sheet if its sales are
Question:
From the following information of X Engineering Co., computethe proforma Balance Sheet if its sales are ₹ 16,00,000.
Transcribed Image Text:
Sales to Networth 2.3 times Current Liabilities to networth 42% Total Liabilities to networth 75% Networth Long-term Liabilities Current Liabilities Liabilities Calculations are to be the nearest rupee. Proforma Balance Sheet ₹ ? Current Ratio 2.9 times Sales to closing inventory 4.5 times Average collection period 64 days ? ? Fixed Assets Cash Inventories Sundry Debtors Assets ₹ IV.7.2 ? ? ? ?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (6 reviews)
To prepare the proforma Balance Sheet for X Engineering Co well use the provided ratios and informat...View the full answer
Answered By
Faith Chebet
In the past two years many of my students have excell with the knowledge I taught them.
0.00
0 Reviews
10+ Question Solved
Related Book For
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
Question Posted:
Students also viewed these Business questions
-
Prepare a worksheet for Michaud Co. from the following information using Figure 11.10: a./b. Merchandise Inventory, ending..................13 c. Store Supplies on...
-
TO: FROM: RE: Peter George Janine Martins Accounting Procedures Please prepare from the following information (attached). (1) A worksheet, along with (2) Journalized adjusting and closing entries for...
-
Prepare a worksheet for Mannon Co. from the following information using Figure 11.9: a./b.Merchandise Inventory, ending.............15 Store Supplies on hand.............................4...
-
1. What is Anthropology, Sociology, and Political Science in your own understanding? 2. What is the nature of Anthropology, Sociology, and Political Science? 3. How are they similar with one another?
-
The information that follows pertains to Esther Food Products: a. At December 31, 2011, temporary differences were associated with the following future taxable (deductible) amounts: Depreciation...
-
Coverage for Damage to Your Auto (Part D) in the PAP provides for two optional coverages: (1) collision coverage, and (2) other-than-collision coverage. a. What is a collision loss? Explain your...
-
A plastic rod is rubbed with wool, producing a distribution of positive and negative surplus charge that is concentrated in two locations on the rod and two on the wool. This distribution can be...
-
Mohan Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next months budget appear below: Selling price . . . . . . . . . . . . . . $25 per unit Variable...
-
6. An annular disk of mass M, inner radius a and outer radius b is placed on a horizontal surface with coefficient of friction , as shown in the figure. At some time, an impulse Jox is applied at a...
-
From the following information, make out a statement of proprietors fund with as many details as possible: (i) Current Ratio 2.5 (ii) Liquid Ratio 1.5 (iii) Proprietory Ratio (fixed...
-
Based on the following information of the financial ratios prepare Balance Sheet of Star Enterprises Ltd as of December 31, 2015. Explain your workings and assumptions: Current Ratio 2.5 Liquidity...
-
Revenue and expense data for Tribal Technologies Co. are as follows: a. Prepare an income statement in comparative form, stating each item for both 20Y8 and 20Y7 as a percent of sales. Round to one...
-
Implement a function to find the length of the longest common subsequence between two strings using dynamic programming.
-
So far as CGO of a Fortune 100 company, you have developed a position paper which explained your top three ethical dilemmas associated with globalization, and you have built a comprehensive outline...
-
a is inversely proportional to the square of b, and a 13 when b 4. What is the value of a when b = 6.5? Enter your answer as a decimal correct to three significant figures. Your answer Type here
-
Some people think rich countries take advantage from trading natural resources with developing countries because, often, countries selling their natural resources become poorer, while rich countries...
-
When people talk about the price of money, they may be talking about three different macroeconomic variables: interest rates, exchange rates or inflation. Discuss whether you think it is correct to...
-
Outline the key points of the 12 ratios.
-
l ask this second time correnct answer is 38,01 can we look pls Consider a non-conducting rod of length 8.8 m having a uniform charge density 4.5 nC/m. Find the electric potential at P, a...
-
What are the rules dealing with the deductibility of the cost of meals and lodging incurred while away from home in order to receive medical treatment as an outpatient?
-
a. Which types of capital expenditures incurred specifically for medical purposes are deductible? b. What limitations, if any, are imposed on the deductibility of these expenditures?
-
Bill, a plant manager, is suffering from a serious ulcer. Bills doctor recommends that he spend three weeks fishing and hunting in the Colorado Rockies. Can Bill deduct the costs of the trip as a...
-
On January 1, 2024, Blossom Software Company's general ledger contained these liability accounts Accounts payable $41,000 Unearned revenue-loyalty program 3,900 CPP payable 1330 payable 700 HST...
-
A company uses an item of inventory as follows Purchase price Annual demand Ordering cost Annual holding cost $96 per unit 4,000 units $300 10% of purchase price Economic order quality 500 units...
-
How do social norms contribute to the maintenance of social order and stability, while also serving as mechanisms for social control and the enforcement of conformity?
Study smarter with the SolutionInn App