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Accountancy 3 Marks Question

Model Paper 2 · CBSE STD 12 Commerce (CBSE - English Medium). 2 questions.

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3 Marks Question

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Question 13 Marks
Working Capital ₹ 9,00,000; Total Debts (Liabilities) ₹ 19,50,000; Long-Term Debts ₹ 15,00,000. Calculate Current Ratio.
Answer
Total Assets = 19,50,000
Current Liabilities = Total Debts - Long term debts
= 19,50,000 - 15,00,000
= 4,50,000
Working capital = Current Assets - Current Liabilities
9,00,000 = Current Assets - 4,50,000
Current Assets = 13,50,000
Current Ratio = $\frac{13,50,000}{4,50,000}$ $= 3 : 1$
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Question 23 Marks
Name any two items that are shown under the head 'other current liabilities and any two items that are shown under the head 'other current assets' in the balance sheet of a company as per Schedule III of the Companies Act, 2013.
Answer
The two items shown under the head 'other current Liabilities are
i. Call in Advance
ii. Outstanding Expense
The two items shown under the head 'other current assets' are
i. Accrued Income
ii. Prepaid expenses
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3 Marks Question - Accountancy STD 12 Commerce Questions - Vidyadip