State two basis lor determination of Profits from the date oflast Balance Sheet to the date of death/retirement. Post category:Accountancy Reading time:1 mins read SOLUTION (i) On Time Basis (ii) On Sales Basis. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhat journal entry will be recorded for writing off the goodwill already existing in Balance Sheet at the time of retirement of a partner? Next PostWhy is Gaining Ratio calculated? You Might Also Like What do you mean by Non-Redeemable Preference Shares? September 28, 2022 Gross Profit Ratio of a company is 25%. State giving reason, which of the following transactions will (a) increase or (b) decrease or (c) not alter the Gross Profit Ratio. (i) Purchases of Stock-in-Trade Rs. 50,000. (ii) Purchases Return Rs. 15,000. (iii) Cash Sale of Stock-in-Trade Rs. 40,000. (iv) Stock-in-Trade costing Rs. 20,000 withdrawn for personal use. (v) Stock-in-Trade costing Rs. 15,000 distributed as free sample. August 17, 2022 X Ltd. has a Current Ratio of 3.5: 1 and Quick Ratio of 2: 1. If the Inventories is Rs. 24,000; calculate total Current Liabilities and Current Assets. August 12, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Gross Profit Ratio of a company is 25%. State giving reason, which of the following transactions will (a) increase or (b) decrease or (c) not alter the Gross Profit Ratio. (i) Purchases of Stock-in-Trade Rs. 50,000. (ii) Purchases Return Rs. 15,000. (iii) Cash Sale of Stock-in-Trade Rs. 40,000. (iv) Stock-in-Trade costing Rs. 20,000 withdrawn for personal use. (v) Stock-in-Trade costing Rs. 15,000 distributed as free sample. August 17, 2022
X Ltd. has a Current Ratio of 3.5: 1 and Quick Ratio of 2: 1. If the Inventories is Rs. 24,000; calculate total Current Liabilities and Current Assets. August 12, 2022