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Accountancy · 2025 · 4 marks
CBSE 2025 · Region 5 · Set 2 · Q33
The current ratio of Jack Ltd. is $\displaystyle 3$·$\displaystyle 2$ : $\displaystyle 1$ and the quick ratio is $\displaystyle 1$·$\displaystyle 5$ : 1. The excess of current assets over quick assets was represented by inventories which were ₹ $\displaystyle 68$,000. Calculate : (i) Current Assets (ii) Quick Assets (iii) Current LiabilitiesORFrom the following information obtained from the books of KVK Ltd., calculate 'Net Assets Turnover Ratio' and 'Debt Equity Ratio' : Amount Information () Preference Share Capital $\displaystyle 8,00,000$ Equity Share Capital $\displaystyle 12,00,000$ General Reserve $\displaystyle 2,00,000$ Balance in the Statement of Profit and Loss $\displaystyle 6,00,000$ $\displaystyle 15$% Debentures $\displaystyle 4,00,000$ $\displaystyle 12$% Loan $\displaystyle 4,00,000$ Revenue from Operations for the year $\displaystyle 2023$ $\displaystyle 24$ $\displaystyle 72,00,000$
OR
From the following information obtained from the books of KVK Ltd., calculate 'Net Assets Turnover Ratio' and 'Debt Equity Ratio' : Amount Information () Preference Share Capital $\displaystyle 8,00,000$ Equity Share Capital $\displaystyle 12,00,000$ General Reserve $\displaystyle 2,00,000$ Balance in the Statement of Profit and Loss $\displaystyle 6,00,000$ $\displaystyle 15$% Debentures $\displaystyle 4,00,000$ $\displaystyle 12$% Loan $\displaystyle 4,00,000$ Revenue from Operations for the year $\displaystyle 2023$ $\displaystyle 24$ $\displaystyle 72,00,000$Marking-scheme solution
Current Ratio= Current Assets
Current Liabilities (½)
3.$\displaystyle 2$= Current Assets
Current Liabilities
Current Assets=$\displaystyle 3.2$ Current Liabilities
Quick Ratio= Quick Assets
Current Liabilities (½)
1.$\displaystyle 5$= Quick Assets
Current Liabilities
Quick Assets =$\displaystyle 1.5$ Current Liabilities
Current Assets- Quick Assets = Inventory
3.$\displaystyle 2$ Current Liabilities– $\displaystyle 1.5$ Current Liabilities= $\displaystyle 68,000$
1.$\displaystyle 7$ Current Liabilities = $\displaystyle 68,000$
Current Liabilities= $\displaystyle 40,000$
(i)
Current Assets= $\displaystyle 40,000$ x $\displaystyle 3.2$= ₹$\displaystyle 1,28,000$ ($\displaystyle 1$)
(ii)
Quick Assets= $\displaystyle 40,000$ x $\displaystyle 1.5$= ₹$\displaystyle 60,000$ ($\displaystyle 1$)
(iii)
Current Liabilities= ₹$\displaystyle 40,000$ ($\displaystyle 1$)
Q.(b) From the following information………………
Ans. (i)Net Assets Turnover Ratio= Revenue From Operations (½)
Net Assets or Capital Employed
Net Assets or Capital Employed= Debt + Equity= $\displaystyle 8,00,000$+ $\displaystyle 28,00,000$= ₹$\displaystyle 36,00,000$ ($\displaystyle 1$)
Net Assets Turnover Ratio= $\displaystyle 72,00,000$ = $\displaystyle 2$ times (½)
$\displaystyle 36,00,000$
(ii)
Debt Equity Ratio= Long Term Debt (½)
Equity or Shareholder’s Funds
Debt= Debentures + Loan= $\displaystyle 4,00,000$+ $\displaystyle 4,00,000$= ₹$\displaystyle 8,00,000$ (½)
Equity or Shareholder’s Funds= Preference Share Capital + Equity share Capital + General Reserve
+ Balance in Statement of P&L
= $\displaystyle 8,00,000$+$\displaystyle 12,00,000$+ $\displaystyle 2,00,000$+ $\displaystyle 6,00,000$= ₹$\displaystyle 28,00,000$ (½)
Debt Equity Ratio= $\displaystyle 8,00,000$ = $\displaystyle 2$:$\displaystyle 7$= $\displaystyle 0.28$:$\displaystyle 1$ (½)
$\displaystyle 28,00,000$
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CBSE Class 12 Accountancy past-paper question from the 2025board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.