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Accountancy · 2024 · 3 marks
CBSE 2024 · Region 1 · Set 3 · Q32
From the given information, calculate: (a) Trade Receivables Turnover Ratio (b) Current Ratio
From the given information, calculate : (a) Trade Receivables Turnover Ratio
(b)
Current Ratio
| Particulars | Amount (₹) |
| Credit Revenue from Operations | $\displaystyle 80,00,000$ |
| Debtors | $\displaystyle 25,00,000$ |
| Bills Receivables | $\displaystyle 15,00,000$ |
| Total Assets | $\displaystyle 50,00,000$ |
| $\displaystyle 10$% Debentures | $\displaystyle 12,00,000$ |
| Creditors | $\displaystyle 13,00,000$ |
| Bills Payable | $\displaystyle 7,00,000$ |
Marking-scheme solution
(a)
Trade Receivables Turnover Ratio = Credit Revenue from Operations
Average Trade Receivables
Average Trade Receivables = Debtors + Bills Receivables
= $\displaystyle 25,00,000$ + $\displaystyle 15,00,000$
= ₹$\displaystyle 40,00,000$
Trade Receivables Turnover Ratio = $\displaystyle 80,00,000$ = $\displaystyle 2$ times
$\displaystyle 40,00,000$
(b)
Current Ratio= Current Assets
Current Liabilities
Current Assets = Debtors + Bills Receivables
= $\displaystyle 25,00,000$ + $\displaystyle 15,00,000$
= ₹$\displaystyle 40,00,000$
Current liabilities = Creditors + Bills Payables
= $\displaystyle 13,00,000$ + $\displaystyle 7,00,000$
= $\displaystyle 20,00,000$
Current Ratio = $\displaystyle 40,00,000$ = $\displaystyle 2$:$\displaystyle 1$
$\displaystyle 20,00,000$
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CBSE Class 12 Accountancy past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.