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

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 4CE

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