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Placement Cell

CONGRATULATIONS TO ALL 53 STUDENTS SELECTED IN HERE Solutions ON 16TH FEBRUARY, 2016

Our Mission

Excellence is not the final destination, it is an ongoing journey of evolution powered by intellectual energies and guided forward by the moral value orientation.

WELCOME TO MODEL COLLEGE

ADMISSIONS OPEN FOR:

• BANKING & INSURANCE

• FINANCIAL MARKET

• B.Sc.COMPUTER SCIENCE

• B.Sc. MICRO BIOLOGY & LIFE SCIENCE


CONTACT - PRINCIPAL

(--03.09.2016)
M.Com-II RATIO ANALYSIS
RATIO ANALYSIS
 
Q.1. Complete the following Balance Sheet from the information given below:
Balance Sheet as on 31st December, 2003
Liabilities Rs. Assets Rs.
Equity Share Capital
(Rs.100 each)
Reserves and Surplus
10% Debentures
Current Liabilities
Sundry Creditors
Other Current Liabilities
?
 
?
4,00,000
 
?
2,00,000
Fixed Assets
Stock
Debtors
Other Current Assets
?
?
?
?
  ?   ?
  1. Sales for the year Rs.48 lakhs
  2. Gross Profit Ratio 25%
  3. Net Profit after tax Rs.2,00,000
  4. Purchases and Sales are on Credit basis
  5. Debtors Turnover Ratio 12 times (Sales/Debtors)
  6. Creditors Turnover Ratio 12 times (Cost of Sales/Creditors)
  7. E.P.S Rs.20 per share
  8. Stock Turnover Ratio 10 times
  9. Debt Equity Ratio 0.25:1
  10. Current Ratio is 1.6:1                                                                               
 Q.2. The final statements of Dadasahib ltd., for the year 2001 reveal the following information:
Current Ratio
Liquid Ratio
Working Capital
Paid Up Share Capital
Fixed Assets as % of Owners Equity
Debtors Turnover
Returns on Equity Capital
Stock Turnover
Gross Profit Ratio
1.75:1
1.25:1
Rs.7,50,000
Rs.10,00,000
60%
7 weeks
15%
4.16 times
25%
On 31.12.2001 there were no current assets other than stock, debtors and bank balance and no liabilities other than share capital and current liabilities. Prepare financial statements.
 
Q.3.     From the following information, prepare a summarized Balance Sheet
Current Ratio
Liquid Ratio
Stock Turnover Ratio (Cost of Sales/Closing Stock)
Gross Profit Ratio
Debt Collection Period
Reserve and Surplus to Capital
Turnover to Fixed Assets (COGS/Fixed Assets)
Capital Gearing Ratio
Fixed Assets to Net Worth
Sales for the year
1.75
1.25
9
0.25
1.5 months
0.2
1.2
0.5
1.25
Rs.12,00,000
 
 Q.4. Exe Ltd is a dealer in automobile components. While preparing the financial statements for the year ended 31/3/2002, it was discovered that a substantial portion of the records were missing. However, the accountant was able to gather the following data
Liabilities Rupees Rupees Assets Rupees Rupees
Paid up Capital:
20,000 equity shares of Rs.10 each
Reserves and Surplus:
Balance on 1/4/01
+Transfer during the year
15% Loan
Current Liabilities:
Proposed Dividend
Provision for Tax
Creditors
 
 
 
 
60,000
40,000
 
 
?
?
?
 
2,00,000
 
 
 
1,00,000
2,00,000
 
 
 
2,00,000
Land
Plant & Machinery:
  Cost
- Depreciation
Current Assets:
Cash and Bank
Debtors
Stock
 
 
3,00,000
1,20,000
 
?
?
?
1,20,000
 
 
1,80,000
 
 
 
?
    ?     ?
  Particulars    
  Current Ratio
Debtors Turnover (Sales/Debtors)
Stock Turnover (Cost of Goods Sold/Stock)
Creditors Turnover (Cost of Goods Sold/Creditors)
Gross Profit/ Sales
Proposed Dividend
Cash and Bank is 30% of Total Current Assets.
2 times
12 times
12 times
12 times
25%
20%
 
                 
You are required to complete the above Balance Sheet with the available information.
 
Q.5. From the following information relating to Wise Limited, you are required to prepare its summarised Balance Sheet:
a) Current Ratio
b) Liquid Ratio
c) Gross Profit/ Sales Ratio
d) Net working capital/Net worth Ratio
e) Sales/Net Fixed Assets Ratio
f) Sales/Net Worth Ratio
g) Sales/Debtors Ratio
h) Reserves/ Capital Ratio
i) Net worth/Long term loan ratio
j) Stock Velocity
k) Paid up Share Capital
2.5
1.5
0.2
0.3
2.0
1.5
6.0
1.0
20.0
2 months
Rs.10 lacs
 
 Q.6. Prepare Profit and Loss Account from following data:
(1) Gross Profit Ratio is 25% and Operating Profit Ratio is 20%.
(2) Stock Turnover Ratio is 10 (w.r.t. to average stock)
(3) Non Operating Income is 20% of the operating profit.
(4) Tax Rate applicable to company is 35%.
(5) Opening Stock was Rs.20,000 whereas closing stock is 5 times the value of opening stock.                                                                                             

Q.7. Financial statements & operating results of Gradpro Ltd. revealed the following position as on 31.3.1997.
  1. Equity Share Capital (Rs.10 fully paid)    10,00,000                                
  2. Working Capital                                      7,80,000
  3. Bank Overdraft                                        1,20,000
  4. Current Ratio                                                  2.5
  5. Quick Ratio                                                    1.5
  6. Proprietory Ratio (Fixed Assets to Prop. Funds) 0.6
  7. Gross Profit Ratio                                            25%
  8. Stock Velocity                                                 5 times
  9. Debtors Credit Period                                  1.5 months       
  10. Net Profit to sales                                       15%
Expenses included depreciation Rs.1,30,000.  Closing stock was 25% higher than the opening stock.  There was also free reserve brought forward from earlier years.  Current Assets included stock, debtors & cash only.  There were no fictitious assets.                                                                                                                               
Q.8. Draw up the Balance Sheet of M/s ABC Ltd. from the following data on 31.3.98
Current Ratio                                                              2.5
Liquidity Ratio                                                             1.5
Net Working Capital                                                    Rs.3,00,000
Stock Turnover Ratio                                                 6 times
(Cost of Sales/Closing Stock)
Gross Profit Ratio                                                       20%
Fixed Assets Turnover Ratio (on cost of sales)         2 times
Average debt collection period                                   2 months
Fixed Assets/Shareholder Net worth                          0.80
Reserves and Surplus/Capital                                    0.50
 
Q.9. From the following figures and ratios of M/s ABC Ltd. draw out Balance Sheet and Trading and Profit and Loss Account as on 31.3.2000
(a) Share Capital  1,80,000  (b) Working Capital    63,000   (c) Bank Overdraft   10,000
            There is no fictitious assets.  In current assets there is no asset other than stock.  Debtors and cash.  Closing stock is 20% higher than the opening stock.
Current Ratio                                                                 2.5
Quick Ratio                                                                   1.5
Proprietory Ratio   (Fixed Assets: Proprietory Fund)         0.7
Gross Profit Ratio                                                        20%
Stock Velocity                                                                4
Debtors Velocity                                                         36.5 days
Net Profit Ratio                                                           10%
                                                 
Q.10. The following ratios & other data pertain to P Ltd. for the year ended 31st Dec ‘00
Working Capital Ratio
Acid Test Ratio
Working Capital
Fixed Assets to shareholders Equity
Inventory Turnover (based on closing inventory)
Gross Profit Ratio
Earnings Per Share
Average age of outstanding accounts receivable
(based on 365 days)
1.75:1
1.27:1
Rs.33,000
0.625:1
4 times
40%
 Re..50
 
 73 days
Share Capital is represented by 20,000 shares.  Earnings for the year as a percentage of share capital are 25%.  There are no prepaid expenses, deferred expenses intangible assets and long-term liabilities. Prepare Profit and Loss Account and Balance Sheet with as much details as possible for the year ended 31st December.                       
 
Q.11. The following incomplete Balance Sheet of M/s Rashmi and Company is furnished together with certain additional information. You are required to complete the missing figure in the Balance sheet using ratio analysis. Balance Sheet as on 31.3.2002
Liabilities Rs. Assets Rs.
Equity Share Capital of Rs.10 each
General Reserve
Long Term Loan
Sundry Creditors
2,00,000
 
1,00,000
?
1,00,000
Fixed Assets
Inventory
Sundry Debtors
Cash/Bank Balance
?
?
?
?
  ?   ?
  1. Credit sales 50%
  2. Acid test ratio 1 :1
  3. Gross Profit Margin 10% on cost of goods sold.
  4. Inventory turnover is 10 times.
  5. Average Collection period is 36 days.
  6. Assets turnover is 2 times.
  7. Ratio of long term loan to net worth 1:2
  8. Working days in a year is 360 days.
  9. Administration expenses Rs.50,000.
  10. Rate of tax50%.                                                                                       
Q.12. KIMCO Ltd. furnishes following information & requests you to prepare the final accounts:
Working Capital                                                                      7,80,000
Overdraft                                                                                1,20,000
Working Capital as % of Equity Share Capital                             78%
Current Ratio                                                                          2.5
Quick Ratio                                                                             1.5
Gross Profit Ratio                                                                   25%
Net Profit Ratio                                                                       15%
Stock Velocity                                                                         5 times
Debtors Credit Period                                                             1.5 months
Closing stock is 25% higher than opening stock
Expenses (Include depreciation @ 10% Rs.1,30,000)                 ?
Cash on Hand                                                                         ?
Long Term Loans                                                              NIL                        
Q.13. Certain items of the annual accounts of XYZ Co. Ltd are missing as shown below:
Trading and Profit and Loss Account for the year ended on 31.3.2003
Particulars Rs. Particulars Rs.
To Opening stock
To Purchases
To Direct Expenses
To Gross Profit
3,50,000
?
87,500
?
By Sales
By Closing Stock
?
?
  ?   ?
To Administration Exps.
To Debenture Interest
To Provision for Tax
To Net Profit
3,70,000
30,000
?
?
By Gross Profit
By Commission
?
50,000
  ?   ?
To Proposed Dividend
To Trf to gen. reserve
To Balance c/f
?
?
?
By Balance b/f
By Net Profit
70,000
?
  ?   ?
 
Balance sheet as on 31.3.2003
Liabilities Rs. Assets Rs.
Equity Share Capital
General Reserve:
Opening Balance
Proposed Addition
Profit & Loss A/c
10% Debentures
Current Liabilities
5,00,000
 
?
?
?
?
?
Plant and Machinery
Other Fixed Assets
Stock
Sundry Debtors
Bank Balance
7,00,000
?
?
?
62,500
  ?   ?
You are required to calculate the missing figures, with the help of the following information:
  1. Current Ratio is 2:1
  2. Closing stock is 25% of sales
  3. Proposed Dividend is 40% of the paid up capital
  4. Gross Profit Ratio is 60%
  5. Ratio of Current Liabilities to Debentures is 2:1
  6. Transfer to General Reserve is equal to proposed dividend
  7. Profit carried forward is equal to 10% of the proposed dividend.
  8. Provision for tax is made at 50%
General Reserve at the beginning of the year is twice the amount transferred to that account from the current profits