commercemine

12th | Accounting Ratio | Question No. 96 To 100 | Ts Grewal Solution 2023-2024

Question 96:

` 3,00,000 is the Cost of Revenue from Operations (Cost of Goods Sold).
Inventory Turnover Ratio 8 times; Inventory in the beginning is 2 times more than the inventory at the end. Calculate value of Opening and Closing Inventories

Answer:

Inventory tunover ratio= Cost of goods sold / Average Inventory

8=3,00,000/Average Inventory

Average Inventory=37,500

Let Closing Inventory = x

Opening Inventory = 2x + x = 3x

Average Inventory = Opening Inventory + Closing Inventory /2

37,500=3.5X+X/2

Or, 4X =75,000

Or,  X =18,750

Closing Inventory = x =  ` 18,750

Opening Inventory = 3x = 3 ×18,750 =  ` 56,250

Trade Receivable Turnover Ratio

Question 97:

Credit Revenue from Operations, i.e., Net Credit Sales for the year

1,20,000

Debtors

12,000

Billls Receivable

8,000

Calculate Trade Receivables Turnover Ratio.

Answer:

Trade receivable turnover ratio= Net sales/ Debtors+Bills receivable

Trade receivable turnover ratio= 1,20,000/12000+8,000=6 Times

 

Question 98:

Calculate Trade Receivables Turnover Ratio from the following information:
 

 

Opening Balance ( `)

Closing Balance ( `)

Sundry Debtors

28,000 

25,000

Bills Receivable

7,000

15,000

Provision for Doubtful Debts

2,800

2,500


Total Sales  ` 1,00,000; Sales Return  ` 1,500; Cash Sales  ` 23,500.

Answer:

Net Credit Sales = Total Sales − Sales Return − Cash Sales

= 1,00,000 − 1,500 − 23,500 = 75,000

Average receivables= Opening Receivables +Closing Receivables/2

Average receivables= 28,000+7,000+25,000+15,000/2=37,500

Trade receivable turnover ratio= Net sales/ Average receivables

Trade receivable turnover ratio= 75,000/37,500 = 2 Times

Question 99:

Closing trade receivables `90,000, Revenue from operation `7,20,000, Cash Revenue from operation `1,80,000, Provision for Doubtful debts `8,000. Calculate Trade receivable turnover ratio.

Answers;

Trade receivable turnover ratio = Credit revenue from operation/ Average trade receivable

Trade receivable turnover ratio = 5,40,000/90,000 = 6 Times

Credit revenue from operations= Revenue from operations - Cash revenue from operation

5,40,000 = 7,20,000 – 1,80,000

Question 100:

Closing Trade Receivables  ` 1,00,000; Cash Sales being 25% of Credit Sales; Excess of Closing Trade Receivables over Opening Trade Receivables  ` 40,000; Revenue from Operations, i.e., Net Sales  ` 6,00,000. Calculate Trade Receivables Turnover Ratio.

Answer:

Let Credit Sales be = x

Cash Sales=x+25/100=25x/100

Total Sales = Cash Sales + Credit Sales

6,00,000=25x/100

Or, 125x/100=6,00,000

Or , x×6,00,000×100/125=4,80,000

Credit Sales = 4,80,000

Closing Trade Receivables = Opening Trade Receivables + 40,000

1,00,000 = Opening Trade Receivables + 40,000

Opening Trade Receivables =  ` 60,000

Average receivables= Opening Receivables +Closing Receivables/2

Average receivables= 1,00,000+60,000/2=80,000

Trade receivable turnover ratio= Net sales/ Average receivables

Trade receivable turnover ratio= 4,80,000/80,000= 6 Times

 

Ts Grewal Solution 2023-2024

Click below for more Questions

Class 12 / Volume – I

Chapter 3 – Accounting Ratio

Question No. 1 To 5

Question No. 6 To 10

Question No. 11 To 15

Question No. 16 To 20

Question No. 21 To 25

Question No. 26 To 30

Question No. 31 To 35

Question No. 36 To 40

Question No. 41 To 45

Question No. 46 To 50

Question No. 51 To 55

Question No. 56 To 60

Question No. 61 To 65

Question No. 66 To 70

Question No. 71 To 75

Question No. 76 To 80

Question No. 81 To 85

Question No. 86 To 90

Question No. 91 To 95

Question No. 96 To 100

Question No. 101 To 105

Question No. 106 To 110

Question No. 111 To 115

Question No. 116 To 120

Question No. 121 To 125

Question No. 126 To 130

Question No. 131 To 135

Question No. 136 To 140

Question No. 141 To 145

Question No. 146 To 150

Question No. 151 To 155

Question No. 156 To 160

Question No. 161 To 165

Question No. 166 To 170

Question No. 171 To 175

Question No. 176 To 180

Question No. 181 And 182