Question - 06

Following is the balance sheet of Raj Oil Mills Limited as at march 31,2015. Calculate late current ratio :

(I) Equity and liabilities :

(1) Shareholder's funds:

  1. Share capital Rs. 7,90,000
  2. Reserve and surplus Rs. 35,000
(2) Current liabilities:
  1. Trade payable Rs. 72,000
(II) Assets :

(1) Non current Assets :
  1. Fixed assets (tangible assets Rs. 7,53,000)
(2) Current Assets :
  1. Inventories Rs. 55,800
  2. Trade Receivables Rs. 28,800
  3. Cash and cash equvalents Rs. 59,400.
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