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Q5
Prepare a Balance sheet from the following particulars:
Gross profit =Rs.80,000
Gross profit to cost of goods sold =1/3
Stock velocity =6 times
Opening stock =Rs.36,000
Accounts receivable velocity =72 days (year=360 days)
Current assets=Rs.1,50,000
Account payable velocity=90 days
Bills receivable =Rs.20,000
Bills payable=Rs.5,000
Fixed assets turnover ratio (on cost of goods sod)=8 times
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