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Questions and Answers
What is the Quick Ratio based on the information provided?
What is the Quick Ratio based on the information provided?
- 0.87:1 (correct)
- 0.865:1
- 2:1
- 1.38:1
What is the Net Cash inflow from Operating Activities based on the data in the text?
What is the Net Cash inflow from Operating Activities based on the data in the text?
- $670,000 (correct)
- $600,000
- $400,000
- $540,000
How much is the Depreciation on Sports materials in the Income & Expenditure Account?
How much is the Depreciation on Sports materials in the Income & Expenditure Account?
- $6,000
- $4,100
- $1,000 (correct)
- $2,500
What is the Current Ratio indicated in the text?
What is the Current Ratio indicated in the text?
What is the total amount of General Reserves based on the Notes to Accounts provided?
What is the total amount of General Reserves based on the Notes to Accounts provided?
What is the Closing Balance of Capital fund shown in the Balance Sheet?
What is the Closing Balance of Capital fund shown in the Balance Sheet?
What is the total amount realized from the assets in the given transaction?
What is the total amount realized from the assets in the given transaction?
In the Journal entry provided, what does the credit to 'Bank A/c' signify?
In the Journal entry provided, what does the credit to 'Bank A/c' signify?
Which partner receives a larger share in the realization of assets, Mohan or Punith?
Which partner receives a larger share in the realization of assets, Mohan or Punith?
What is the purpose of crediting 'P & L A/c' in the Journal entry?
What is the purpose of crediting 'P & L A/c' in the Journal entry?
Which account would be debited when recording the amount realized from creditors in the books?
Which account would be debited when recording the amount realized from creditors in the books?
What does the entry 'To Balance b/d' represent in the Bank Account?
What does the entry 'To Balance b/d' represent in the Bank Account?
What is the net profit ratio for the year ending 31.03.2021?
What is the net profit ratio for the year ending 31.03.2021?
What is the total revenue from operations for the year ended 31.03.2021 for Lakshmi Company Limited?
What is the total revenue from operations for the year ended 31.03.2021 for Lakshmi Company Limited?
How much is the Interest on capital for Y for the year ending 31.03.2021?
How much is the Interest on capital for Y for the year ending 31.03.2021?
What is the Profit after tax for Lakshmi Company Limited for the year ended 31.03.2021?
What is the Profit after tax for Lakshmi Company Limited for the year ended 31.03.2021?
What is the comparative statement of Profit & Loss used to analyze?
What is the comparative statement of Profit & Loss used to analyze?
What does the net profit ratio of 10% indicate?
What does the net profit ratio of 10% indicate?
What was the amount received as application money on the 5% Debentures at 15 per debenture?
What was the amount received as application money on the 5% Debentures at 15 per debenture?
How much money was due on allotment of 20,000 Debentures at ₹40 per debenture?
How much money was due on allotment of 20,000 Debentures at ₹40 per debenture?
What was the amount due on the first and final call for 20,000 Debentures at ₹45 per debenture?
What was the amount due on the first and final call for 20,000 Debentures at ₹45 per debenture?
Which account was credited when transferring Application money to Debenture Account?
Which account was credited when transferring Application money to Debenture Account?
Where would the 'Reserves and surplus' be classified in the Balance Sheet of Lakshmi Company Limited?
Where would the 'Reserves and surplus' be classified in the Balance Sheet of Lakshmi Company Limited?
What does the entry '5% Debenture First & Final call A/c Dr 900,000 To 5% Debenture A/c' represent in accounting terms?
What does the entry '5% Debenture First & Final call A/c Dr 900,000 To 5% Debenture A/c' represent in accounting terms?
What is the percentage increase in Share Capital from 31-03-2020 to 31-03-2021?
What is the percentage increase in Share Capital from 31-03-2020 to 31-03-2021?
Which item saw the highest percentage decrease in its share to total from 31-03-2020 to 31-03-2021?
Which item saw the highest percentage decrease in its share to total from 31-03-2020 to 31-03-2021?
What is the Inventory Turnover Ratio for the year ending on 31-03-2021?
What is the Inventory Turnover Ratio for the year ending on 31-03-2021?
Which ratio helps in measuring how quickly a company collects cash from its credit sales?
Which ratio helps in measuring how quickly a company collects cash from its credit sales?
What is the Gross Profit Ratio for the year ending on 31-03-2021?
What is the Gross Profit Ratio for the year ending on 31-03-2021?
If there was an error in reporting Intangible Assets for the year ending on 31-03-2021 at $700,000 instead of the correct amount of $600,000, what impact would it have on the Non-current Assets percentage?
If there was an error in reporting Intangible Assets for the year ending on 31-03-2021 at $700,000 instead of the correct amount of $600,000, what impact would it have on the Non-current Assets percentage?
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