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Model Test Papers M.209

22. Current Ratio 2.5, Quick Ratio 1.5, Working Capital ` 1,20,000, Gross Profit @ 25% on
Revenue from Operations was ` 1,00,000, Inventory Turnover Ratio 3 Times. Calculate
Opening Inventory, Current Liabilities, Current Assets and Quick Assets.
Or
On the basis of the following information, calculate:
(i) Debt to Equity Ratio; and (ii) Working Capital Turnover Ratio.
Information: ` `
Revenue from Operations: (a) Cash Sales 40,00,000 Paid-up Share Capital 17,00,000
(b) Credit Sales 20,00,000 6% Debentures 3,00,000
Cost of Revenue from Operations 35,00,000 9% Bank Loan 7,00,000
Other Current Assets 8,00,000 Debentures Redemption Reserve 3,00,000
Current Liabilities 4,00,000 Closing Inventory 1,00,000
(4)
23. Following is the Balance Sheet of GEC Ltd. as at 31st March, 2018, prepare Cash Flow
Statement:
Particulars Note No. 31st March, 31st March,
2018 (`) 2017 (`)

I. EQUITY AND LIABILITIES
1. Shareholders’ Funds
(a) Share Capital 8,00,000 6,00,000
(b) Reserves and Surplus 1 3,30,000 2,20,000
2. Non-Current Liabilities
Long-term Borrowings 2 1,60,000 1,00,000
3. Current Liabilities
(a) Trade Payables 1,25,000 1,40,000
(b) Short-term Provisions (Provision for Tax) 40,000 55,000
Total 14,55,000 11,15,000
II. ASSETS
1. Non-Current Assets
(a) Fixed Assets—Tangible 3 9,50,000 6,05,000
(b) Non-current Investments 1,35,000 1,00,000
2. Current Assets
(a) Current Investments—Marketable Securities 80,000 40,000
(b) Trade Receivables 90,000 2,00,000
(c) Cash and Cash Equivalents 4 2,00,000 1,70,000
Total 14,55,000 11,15,000

Notes to Accounts
Particulars 31st March, 31st March,
2018 (`) 2017 (`)

1. Reserves and Surplus
Securities Premium Reserve 10,000 ...
General Reserve 1,50,000 1,20,000
Surplus, i.e., Balance in Statement of Profit and Loss 1,70,000 1,00,000
3,30,000 2,20,000